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First-Time Buyer Mortgage Advice in Manchester

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If you’re buying a home as a First Time Buyer in Manchester, the process may leave you feelings of anxiety, concern or uncertainty. It’s understandable, as this is something entirely new for you. But, rest assured that our team is here to put your mind at ease and take as much of the stress away as possible.

 

As a Mortgage Broker in Manchester, we have helped many First Time Buyers achieve their mortgage goals. We have a team of experienced mortgage advisors & administrators in Manchester who always do their best to work patiently and effectively alongside you.

 

We aim to ensure that your goals of transitioning into a First Time Homeowner can become a reality with as little issues as possible and be here to answer any questions that you may have along the way.

 

Can I get a First Time Buyer Mortgage in Manchester?

If you are uncertain of your eligibility but looking to take out a mortgage to purchase your first home. Then speaking with one of our Mortgage Advisors in Manchester will be beneficial.

 

While applying for a mortgage, the lender will look at your affordability. Things like your annual salary and any other income you have, along with your outgoings and credit history, all contribute to how much you can borrow for a mortgage. The lender needs to know that you are the person who can manage your finances responsibly.

 

Your deposit will also have an impact on the mortgages that are available to you.

 

As a Mortgage Broker in Manchester, our devoted team will search through 1000’s of deals to find the most suitable mortgage for you based on your circumstances.

 

We have a vase knowledge of the various lender’s criteria. We utilise this knowledge to recommend you the most suitable mortgage.

 

If we encounter any mortgage hurdles that require some attention during the process, our dedicated mortgage advice team will do their best to help.

 

It’s always a good idea to have obtained a Mortgage Agreement in Principle handy ahead of time, as this often becomes very useful for when you are ready to make an offer. Our team can usually help get this turned around and back to you within 24 hours.

 

Are there any schemes to help First Time Buyers in Manchester?

At the moment, there are various government schemes to help First Time Buyers get onto the property ladder. These include Help to Buy Equity Loan, Lifetime ISAs, and the Right to Buy Scheme. For more information on these schemes, please navigate to the guides section of our website.

 

Our Mortgage Advisors are aware of all the current government schemes available and will help answer any questions that you may have regarding these.

 

Open & Honest Mortgage Advice in Manchester

Here at Manchestermoneyman, we will consider all kinds of mortgage situations. We will work hard to get you over any hurdles to ensure you come out with the best deal that’s most suited to your mortgage circumstances.

 

We also offer all of our customers the option to have a Free Initial Mortgage Consultation. Get in touch today to discuss your mortgage options with one of our fast & friendly Mortgage Advisors in Manchester.

 

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Mortgage Advice in Manchester for First Time Buyers

Over the years, our team has helped many First Time Buyers get onto the property ladder, utilising over 20 years of experience with open and honest Mortgage Advice in Manchester and surrounding areas.

 

At Manchestermoneyman, we regularly face various scenarios when speaking to First Time Buyers in Manchester. Below we have collaborated a list of popular First Time Buyer scenarios, just to name a few:

 

How much can I borrow?

We often find when we contact a First Time Buyer who is maybe only just starting in the process that the chances are they will want to find out the maximum amount they can borrow for a mortgage.

 

We offer customers an estimated quote on our mortgage calculator page for how much you could borrow for a mortgage based on your financial position, but not your personal situation. However, this will only be a rough estimate. If you want to know the exact amount, speak with one of our Mortgage Advisors in Manchester today.

 

Ready to Make an Offer

Another perk of using a Mortgage Broker in Manchester like ourselves that will serve you well is that you will receive the support and guidance of our mortgage advisors during the entire process.

 

Our trusted team of mortgage experts can obtain your mortgage agreement in principle on your behalf, which we aim to try and provide you one within 24 hours of your initial appointment. Having an agreement in principle in place doesn’t guarantee you a mortgage. But, it can show the seller that you are ready and can go forward with the process.

 

You Have Had an Offer Accepted

Before you start making any offers, it’s always best to speak with a Mortgage Advisor in Manchester first. As soon as you get your offer accepted on the home, we can progress with your mortgage application.

 

With the help of a Mortgage Advisor in Manchester, they will be able to look and see if you are eligible for a mortgage, following on with obtaining your AIP for you so that you, the homebuyer, can back up any offers you put down.

 

Need an Agreement in Principle (AIP)

As touched upon before, it is always better to have an agreement in principle on hand when making any offers. In most cases, our team can get you a mortgage agreement in principle within 24 hours of your mortgage appointment. An AIP can show the seller that you are ready and can go forward with the process.

 

Declined By Your Bank or Building Society

Sometimes those looking for Mortgage Advice in Manchester have previously approached a bank but declined for a mortgage. There are many reasons why the bank may reject your mortgage application; we help with this.

 

As an open & honest mortgage broker in Manchester, we can help you find the best route based on your personal and financial state of affairs. We also have access to a vast panel of mortgage lenders, including those offering specialist products.

 

We provide mortgage advice 7 days a week, always on hand to answer your mortgage questions, especially for First Time Buyers in Manchester. Get in touch with us and book yourself in for a free mortgage appointment today.

Why choose us to help buy your first home in Manchester?

Our experienced Mortgage Advisors in Manchester has much in-depth knowledge from helping many first time buyers find their footing on the property ladder, kickstarting their mortgage journey.

 

Our dedicated Mortgage Advisors work every day of the week, from early on until late at night, meaning they can work around you and be free to contact you at your convenience.

 

We offer all of our customers a free mortgage appointment that will take place either via the telephone or through a Microsoft Teams video call.

 

You may think that your situation is perhaps too complex, but utilising our over 20 years of working in the industry, we can take on a wide range of mortgage situations. We will likely have come across a case like yours before.

 

Being a Mortgage Broker in Manchester, we have zero ties to any external organisations like Banks, Estate Agents, or Builders. Our hard work is exclusively for you, our loyal customer, and we do everything we can to provide you with personalised and stress-free service.

 

Our advisors can search through 1000’s of mortgage deals. As a First Time Buyer in Manchester, we aim to make sure you are on the most suitable deal for your situation. It’s not just about finding the right mortgage. We are here to support you through the entire process.

 

We will work hard to try and ensure your mortgage experience is as stress-free as possible and kept informed throughout the process.

 

Get in touch, and we’ll get you booked in for your free mortgage appointment with one of our incredible advisors today.

What our customers say

Common mortgage
questions

Your free initial mortgage consultation in Manchester will last roughly one hour. A dedicated advisor will then recommend a mortgage for you, with no obligation to accept and go forward and proceed with the mortgage in question, if you decide that it is not for you.

As trusted Mortgage Advice professionals in Manchester, we will carry out a Fact Find to establish your personal needs before we go ahead with recommending the most suitable mortgage for your situation. From there you will be credit checked, which is a requirement to obtain an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, you can be issued a formal mortgage offer.

We recommend you obtain an Agreement in Principle prior to property viewings in Manchester, in order to avoid potential disappointment. At the very latest we would suggest that you obtain one before you make any offers, to put you in a better bargaining position. As a dedicated Mortgage Broker in Manchester, we are typically able to obtain an agreement in principle within 24 hours.

Generally speaking, an Agreement in Principle will last for between 30 and 90 days, depending on the lender that is used. If your Agreement in Principle expires before you can make use of it, it can be easily refreshed by speaking to your advisor.

If you’re looking to achieve something like debt consolidation or home improvements, you may be able to place a second mortgage on your home. If you’re looking to use it for yourself, a family member, a holiday home or a Buy to Let, a second mortgage on that property may also be an option.

A high street lender will typically require you to put down at least 5% of the property purchase price for your deposit. If you have had credit problems in the past, this may be higher.

If you have struggled with credit problems in the past, you may still be eligible for a mortgage, though a lender may possibly require you to put down a higher deposit than expected. This can be something like 15% of the property purchase price.

Submitting at least one year’s accounts moves you along the process, allowing for you to potentially obtain a mortgage in Manchester. Most lenders will utilise your salary plus dividend to calculate the maximum mortgage amount you are eligible to borrow, whereas some other lenders will go off your net profit.

In order for an employee to prove their income, it’s usually 3 payslips and the last 2 years’ accounts if you are self-employed. You will also need to provide some proof of ID, address and the last 3 months’ bank statements.

The free initial mortgage consultation that we offer generally lasts up to around an hour. We are then able to turn around an agreement in principle within 24 hours of that appointment. A formal mortgage offer takes, on average, somewhere around three weeks.

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

Obtain an Agreement in Principle to support any future offers you wish to make. Now the fun starts, 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.

Handy quick links

Manchestermoneyman.com & Manchestermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

© 2021 Manchestermoneyman

Manchestermoneyman, 3 Piccadilly Place, Manchester, M1 3BN.

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