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First Time Buyer Mortgage Advice in Scunthorpe

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If you’re buying a home as a First Time Buyer, you may feel a little anxious about the process. It’s understandable – The market has a lot of competition and the Estate Agents can put a lot of pressure on you. Our team of experienced advisors will work patiently and effectively alongside you, to ensure your property-owning dreams come to life

 

Finding The Right Deal | Mortgage Advisor in Scunthorpe

It’s our job to search through thousands of mortgage deals, to find the right mortgage based on your circumstances. Whether you’re buying by yourself, with a friend/partner, or are having mortgage problems, we’re usually able to help. Having your Agreement in Principle handy at all times is a good idea, especially if you’re ready to make an offer. We are able to help you out with this.

 

How Much Deposit Will I Need?

The minimum deposit required for a first-time buyer is 5%. Deposit can come from your own savings or even a gifted deposit from a friend or family member. In some cases, you can have a combination of both gift and savings.

 

Are You Currently Renting?

In many cases, buying a property and taking out a mortgage can be cheaper than privately renting. If you’ve thought about buying the property you’re currently in from your landlord or housing association, it’s worth checking your eligibility for the Right to Buy Scheme. Speaking to your local authority should allow clarification on this.

 

 

How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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First Time Buyer Mortgage Advice in Scunthorpe

  • Wanting to get an idea of how much you can borrow and how much this will cost before you start viewing properties?
  • Seen a property that you’d like to go for and are wanting to make an offer?
  • Already had your offer accepted and want to get going with your mortgage application?
  • Would like a Mortgage Agreement in Principle Certificate to back-up any offers you are ready to make?
  • Already visited your Bank’s Mortgage Advisor and been declined? i.e. poor credit, income mix, the bank won’t lend enough, not fitting their lending criteria etc
  • Do you have an unusual or complex mortgage situation and need help?

Contact us your Mortgage Broker in Scunthorpe to book your free mortgage consultation.

How We May Able to Help

We only work with your best interests at heart, without any ties to estate agents, banks or building societies. Our Mortgage Advice team will do their best to make the process as simplified & stress-less as possible, free of industry jargon. We are also able to look at sourcing conveyancing and solicitors’ quotes for you, as well as speak with an Estate Agent about an offer you wish to make – We’re with you for the whole journey!

Contact us to book your free mortgage consultation.

What our customers say

Common mortgage
questions

Your free mortgage consultation in Scunthorpe will last around one hour. We will then recommend a mortgage for you with no obligation for you to proceed and you can decide whether or not you wish to proceed with the mortgage.

As your mortgage broker in Scunthorpe, we carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for you. A credit check is then required for an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can be issued.

To avoid possible disappointment, we recommend you obtain an Agreement in Principle before you begin viewing properties in Scunthorpe. At the very latest you should obtain one prior to making an offer to assist your bargaining position.

An Agreement in Principle typically lasts for between 30 and 90 days depending on the Lender used. If your Agreement in Principle expires it can always be refreshed.

It may be possible to get a second mortgage on your home for things like debt consolidation or Home Improvements. It may also be possible to take out a mortgage on a second property if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

The minimum deposit when purchasing a house in Scunthorpe with High Street Lenders is typically 5%. This can be higher if you have had previous credit problems.

If you have had credit problems you can still get a mortgage but you may possibly be required to put down a higher deposit than usual, perhaps 15% of the property purchase price.

Once you have submitted at least one year’s accounts, you are able to get a mortgage. Most Lenders use your salary plus dividend to calculate the maximum mortgage, whereas others are known to go off your net profit.

It’s usually three payslips for an employee to prove income and the latest 2 years’ accounts for Self Employed. You will also need to produce proof of ID, address and 3 months’ bank statements.

Our free consultation typically lasts up to an hour or so. We can turn round an agreement in principle within 24 hours. A formal mortgage offer takes about three weeks on average.

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We make it so easy!
Our 4 step process

Step 1

A telephone test call where we can take some initial details and find out about your plan of action.

Step 2

Enjoy finding a property!

Step 3

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Step 4

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

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