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A Guide to the Home Buying and Mortgage Process for First Time Buyers in Manchester

Buying your first home in Manchester is a thrilling milestone, yet it can also be a bit overwhelming. To navigate the home buying and mortgage process with confidence, it’s crucial to comprehend the steps involved.

As a trusted mortgage broker in Manchester, we will offer a detailed breakdown of the journey you might undertake as a first time buyer in Manchester and acquaint you with the invaluable assistance provided by Manchestermoneyman. With our guidance, you’ll be well-prepared to embark on your homeownership journey.

Exploring Your Options

For those embarking on the journey as a first time buyer in Manchester, it commences with in-depth research into the housing market and a careful assessment of affordability.

Manchester features a variety of neighborhoods, each with its unique character and property prices. It becomes crucial to explore different areas, considering aspects such as amenities, transportation links, and proximity to schools.

Exploring your options allows you to make an informed decision regarding the street that aligns with your preferences and fits within your budget.

Saving For a Deposit

For individuals venturing into homeownership for the first time in Manchester, saving for a deposit stands as a crucial milestone in the home buying journey. The percentage of your deposit will influence the mortgage options and interest rates avaliable to you.

At Manchestermoneyman, we provide expert mortgage advice in Manchester, specifically tailored to your needs. Our services include valuable insights on efficient ways to save for a deposit.

We are well-versed in guiding you through government schemes such as Shared Ownership in Manchester, making it more feasible for you to take that pivotal first step onto the property ladder. Our overarching goal is to assist you in achieving your homeownership goals with confidence.

Getting a Mortgage

Securing a mortgage is a significant milestone in the home buying process, and at Manchestermoneyman, we specialise in assisting first time buyers in Manchester in finding the right mortgage deals.

Our team of experienced mortgage advisors in Manchester will carefully assess your financial circumstances and provide guidance on the various mortgage options available to you.

They will take the time to explain the terms, interest rates, and repayment options, ensuring that you have a clear understanding and can make an informed decision that aligns with your budget and long-term goals.

With our expertise and personalised approach, we aim to make the mortgage journey smoother and help you achieve your dream of homeownership in Manchester.

Property Search and Viewing

After obtaining a mortgage agreement in principle, the next step is to begin the exciting search for your dream home in Manchester. Utilise online property portals and local estate agents as valuable resources to explore the available properties in your desired area.

Property viewings become a crucial element in this journey, allowing you to immerse yourself in each potential home. Take the time to envision your life within these spaces, considering vital factors like proximity to amenities, transportation links, and the potential for future growth in the area.

By carefully assessing each property, you can make an informed decision and find a home that meets your needs and goals.

Making an Offer and Conveyancing

After find the perfect property, the next phase involves presenting an offer to the seller. In the event of acceptance, you will progress to the conveyancing process.

Conveyancing is a series of legal procedures and searches designed to confirm the property’s freedom from potential issues or restrictions. If you need any reccomendations, we will be more than happy to suggest reliable solicitors or conveyancers adept at managing the legal intricacies on your behalf.

Their expertise ensures a smooth and thorough conveyancing process, giving you the assurance and peace of mind you need as a first time buyer in Manchester.

Survey and Valuation

First time buyers in Manchester will always need to arrange a property survey and valuation in Manchester for their intended property. Depending which survey you choose, the surveyor will meticulously evaluate the property’s condition, pinpointing any potential issues that may necessitate attention.

The valuation report serves to assess the property’s market value, guaranteeing that the agreed-upon price aligns with its fair market worth. Undertaking these steps is imperative for making an informed decision and ensuring the property’s overall condition before advancing with the purchase.

Mortgage Application and Approval


Upon completion of the survey and valuation process, the next step involves finalising your mortgage application. Manchestermoneyman is committed to assisting you in collecting all necessary documents and submitting them to the mortgage lender on your behalf.

Our dedicated team will accompany you throughout the entire application process, ensuring a comprehensive understanding of each step and addressing any queries or concerns that may arise along the way.

We aim to streamline the application process, making it as smooth and stress-free as possible, and offering the support required for the successful securing of your mortgage.

Exchange and Completion

Once your mortgage application receives approval, the final stages of the home-buying process involve exchanging contracts and completing the purchase.

During the exchange, both the seller and the buyer legally commit to the transaction, and a specific completion date is agreed upon. This marks a significant milestone where all parties involved finalise the details of the sale.

On the completion day, the remaining funds are transferred, officially making you the proud owner of your new home in Manchester. It’s an exhilarating moment as you take possession of the property and embark on your journey as a homeowner.

Book a Free Mortgage Appointment

Starting your journey as a first time buyer in Manchester can be a mix of excitement and nerves. With the help of Manchestermoneyman, you can navigate the home buying and mortgage process confidently and smoothly.

Our team of seasoned mortgage advisors specialise in guiding first time buyers in Manchester like yourself through the entire journey.

We’ll help you with important aspects such as what to do to save up for a deposit, securing a mortgage that suits your needs, and completing the purchase of your dream home.

Don’t hesitate to reach out to Manchestermoneyman today and take the first step towards making your homeownership dreams a reality in Manchester.

Date Last Edited: February 19, 2024

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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

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