It's Free to Speak to an Advisor, 7 days, 8am - 10pm

First Time Buyer
Mortgages in Rochdale

It's free to speak with a mortgage advisor
7 days a week, 8am - 10pm

0161 7133 215 Speak to an Advisor - It's Free!
Reviews IO Logo

Read our 457 Reviews

Reviews Logo

First Time Buyer
Mortgages in Rochdale

Discover your borrowing potential and move closer to securing your dream home as a first time buyer in Rochdale.

Speak to an Advisor - It's Free!

Can I get a mortgage as a first time buyer in Rochdale?

As a mortgage broker in Rochdale, we’re here to help first time buyers like you take the first step onto the property ladder.

With access to a wide network of lenders, we’ll find the most suitable mortgage for your circumstances.

Whether you’re looking at new builds or older homes, our expertise ensures you’re in safe hands from start to finish.

First Time Buyer <br>Mortgages in Rochdale

How much deposit do I need for a first time buyer mortgage in Rochdale?

In Rochdale, the minimum deposit for first time buyers is typically 5% of the property’s value.

For instance, a home valued at £160,000 would require at least £8,000 as a deposit.

Saving a larger deposit not only improves your chances with lenders but could also unlock better interest rates, giving you lower monthly payments.

How much can I borrow for a first time buyer mortgage in Rochdale?

The amount you can borrow depends on your financial circumstances, including your income and outgoings.

Most lenders in Rochdale will offer loans based on 4 to 4.5 times your annual salary.

If you’re unsure of your affordability, a mortgage advisor in Rochdale can assess your situation and help you find a lender who fits your needs.

Speak to an Advisor - It's Free!

First Time Buyer Mortgage FAQs in Rochdale

What is the process of getting a first time buyer mortgage in Rochdale?

Accordion Arrow

The first step is to work out how much you can afford to borrow and get a mortgage in principle.

Once you’ve found a property and your offer is accepted, we’ll guide you through the full application process.

Our team is here to handle the paperwork, liaise with lenders, and make the journey as smooth as possible.

Are there government schemes for first time buyers in Rochdale?

Accordion Arrow

Yes, there are schemes like Shared Ownership that help reduce the upfront costs of buying a home.

These initiatives can be a great way for first time buyers in Rochdale to secure a property with a smaller deposit.

Getting mortgage advice in Rochdale can help you explore all of the options available.

How can I improve my chances of securing a mortgage in Rochdale?

Accordion Arrow

To strengthen your application, focus on maintaining a good credit score and reducing any outstanding debts.

Having a clear idea of your budget and being prepared with the necessary documents will also help.

We can review your financial situation and suggest ways to make your application as strong as possible.

How long does it take to secure a first time buyer mortgage in Rochdale?

Accordion Arrow

The process typically takes 4 to 6 weeks, but this can vary based on factors like lender response times and legal checks.

With our help, you can stay on top of the timeline and avoid unnecessary delays.

Being well-prepared and organised is key to a smooth experience.

Our Customers Love Us

Reviews Stars4.96 Rating457 Reviews

Our Simple Mortgage Process

Free Mortgage Appointment

Step 1

Get started with a free mortgage appointment, designed to give you expert advice tailored to your needs.

We’ll assess your financial situation and help you take the first step towards buying your first home in Rochdale.

1000s of Mortgages

Step 2

We search through thousands of mortgage products to find the best deal for your circumstances.

Whether you’re looking for a competitive rate or a low deposit option, our wide network of lenders ensures we’ll find the right fit.

Mortgage Application

Step 3

Once you’re happy with your chosen mortgage, we’ll handle the application process for you.

From submitting paperwork to staying in touch with lenders, we’ll ensure everything is completed quickly and accurately.

Completion

Step 4

Completion is the final and most exciting step, where you officially become a homeowner in Rochdale.

We’ll be by your side throughout the process, ensuring everything goes smoothly and you’re ready for your big day.

Reasons to Choose Us

Free Mortgage Appointment

Accorion Arrow

We offer free mortgage appointments to help first time buyers in Rochdale get started with confidence.

Our expert advice is tailored to your circumstances, ensuring you’re fully informed before making any decisions.

1000s of Mortgages

Accorion Arrow

With access to thousands of mortgage products, we can find the one that fits your financial situation.

Our wide range of options means you’re not limited by what’s available on the high street.

Our Service

Accorion Arrow

Our personalised service is designed to take the stress out of the mortgage process.

From your first enquiry to the day you get your keys, we’ll make everything as simple and straightforward as possible.

7 Days a Week

Accorion Arrow

We understand that life is busy, which is why we’re available 7 days a week.

Whether you have questions on a weekday evening or need help over the weekend, we’re here to support you.

Malcolm and Amy Davidson - Mortgage Advice in Manchester

First Time Buyer Mortgage Types in Rochdale

Fixed Rate Mortgages in Rochdale

Accorion Arrow

Fixed rate mortgages provide stability by keeping your interest rate the same for a set period.

This option is popular with first time buyers in Rochdale who prefer predictable payments, making budgeting easier as they settle into their new home.

Tracker Mortgages in Rochdale

Accorion Arrow

A tracker mortgage follows the Bank of England’s base rate, which means your interest rate could increase or decrease.

If you’re comfortable with potential fluctuations, this type of mortgage can offer flexibility and potential savings.

Discounted Variable Rate Mortgages in Rochdale

Accorion Arrow

This type of mortgage offers an initial discount on the lender’s standard variable rate, helping to reduce your early payments.

While rates can vary, it’s a great choice for buyers in Rochdale looking for lower costs at the start.

Variable Rate Mortgages in Rochdale

Accorion Arrow

Variable rate mortgages have interest rates that can change at the lender’s discretion, reflecting market conditions.

For first time buyers in Rochdale, they offer flexibility but require careful budgeting for potential payment changes.

Shared Ownership Mortgages in Rochdale

Accorion Arrow

Shared Ownership allows you to buy a portion of a property while paying rent on the rest.

This scheme is ideal for buyers in Rochdale looking to enter the property market with a smaller initial deposit.

1000s of First Time Buyer Mortgages in Rochdale

Fleet Mortgages
Paragon Mortgages
TSB Mortgages
Halifax
Bluestone Mortgage Advice
BM Solutions Mortgages
Chorley Building Society
Precise Logo
HSBC
Nationwide
Skipton
Pepper Money
Mortgage Works
Coventry Building Society
Santander
Natwest Mortgage Advice
Newcastle Building Society
Kensington Logo
Accord Mortgages
Aldermore Mortgage Lender
Beverley Building Society
Kent Reliance
Virgin Money & Mortgages
Leeds Building Society
Scottish Widows
Foundation Home Loans

Mortgage Guides

Manchestermoneyman.com & Manchestermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Manchester, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

Equity Release Council Logo
Facebook Image X Image Instagram Image YouTube Image LinkedIn Image SpotifyImage TikTok Image

Speak to an Advisor – It’s Free!
7 Days a Week, 8am – 10pm

Speak to an Advisor - It's Free Enquire Online 0161 7133 215
We use cookies to enhance your customer experience. More detailsGot It