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First Time Buyer
Mortgages in Manchester

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First Time Buyer
Mortgages in Manchester

Are you a first time buyer in Manchester? Discover your borrowing potential and move closer to securing your dream home. Start your mortgage journey with an expert today.

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Finding out How Much You Can Borrow for a Mortgage in Manchester

If you’re a first time buyer in Manchester looking to get on the property ladder, a good starting point is to speak with a mortgage broker in Manchester, such as ourselves, to dertermine the maximum amount you can borrow for a mortgage.

As a first time buyer, your mortgage broker in Manchester will carefully assess factors such as your sole or joint income, expenses and deposit to determine the mortgage amount suitable for you, along with it’s corresponding monthly costs.

Whether you are employed, self employed, a mixture of the two, own your own company or have a complicated income mix – our expertise extends to tailoring first time buyer mortgage options to suit your needs.

The minimum deposit you will need to put down on your first mortgage is 5% of the property value, resulting in a 95% mortgage. This can be sourced from savings, family gifts, government schemes or a combination of these etc.

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First Time Buyer<br>Mortgages in Manchester

Getting a mortgage Agreement / Decision in Principle in Manchester

For a first time buyer in Manchester, once you have worked out the maximum amount you can borrow and are ready to view properties, the next step is to get a mortgage agreement in principle, also know as a decision in principle.

This will give you the confidence and reassurance you need to start making offers on properties you’re interested in buying.

When you’re ready, an agreement in principle is a certificate that ours mortgage advisors in Manchester can turn around within 24 hours of your free mortgage appointment. Armed with an AIP, it confirms the maximum amount you can borrow on your first mortgage. This also confirms to the estate agent that you’ve been verified by us and that you are eligible for a mortgage to cover the purchase price of the property.

As a first time buyer in Manchester, an agreement in principle will give both the vendor and estate agent peace of mind and will help any offers that you make get accepted and the property taken off the market.

Our First Time Buyer Mortgage Advice Service in Manchester

Being a mortgage broker in Manchester you can trust, we have zero ties to any bank or estate agent, we’ll search 1000’s of first time buyer mortgage products on your behalf to find you the best deal.

Your free, no-obligation first time buyer mortgage consultation will take no longer than 30 mins and is available 7 days a week. We’ll answer all your mortgage related questions and guide you through the whole process, you can book this online, or give us a call.

Our aim is to make the process of transitioning into a first time homeowner as smooth and hassle-free as possible, so that you can achieve your goals with expert mortgage advice in Manchester without unnecessary stress.

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FAQ's From First Time Buyers in Manchester

We will be With you Throughout theWhole Process!

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In the case that you are unsure of your eligibility and are looking to take out a mortgage to purchase your first home, get in touch with one of our mortgage advisors in Manchester.

In the mortgage application process, the lender will look at your affordability. Factors such as your annual salary and additional income you have will play a part as well as outgoings and credit history. All of these are taken into account when it comes to the amount you can borrow for a mortgage. Lenders carry this out to build up a financial background of you and establish whether you will manage your finances responsibly.

The amount of deposit you have will further affect on the mortgages available to you.

Utilising our extensive experience and vast knowledge, we will recommend the most appropriate mortgage for you.

The process can sometimes come with its mortgage hurdles. Our mortgage advice team will work hard in helping you overcome these.

It’s always best to get a Mortgage Agreement in Principle to hand ahead of time, as this is a very handy tool when you are ready to make an offer. Here at Manchestermoneyman, we can usually sort this out for you within 24 hours of attending your free mortgage appointment.

How muchdeposit do I need for a mortgage in Manchester?

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The amount of deposit you’ll need for a mortgage in Manchester can vary depending on the lender and the type of mortgage you choose. Generally, first time buyers in Manchester typically aim for a deposit of at least 5% to 20% of the property’s purchase price. However, keep in mind that a larger deposit can lead to more favorable mortgage rates and lower monthly payments.

It’s advisable to consult with a mortgage advisor in Manchester who can assess your financial situation and help you determine the right deposit amount for your specific circumstances.

Looking at Getting a First Time Buyer Mortgage in Manchester?

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The home buying process can be exciting, however, as a first time buyer in Manchester, this unfamiliar experience can be daunting. Here at Manchestermoneyman, this is something we understand. This is why we have a fantastic mortgage advice team who strive in providing a supportive and stress-free service.

Through our experience as a mortgage broker in Manchester, we have a brilliant reputation helping many first time buyers in Manchester fulfil their mortgage dreams. We have a team of skilled mortgage advisors and administrators in Manchester who are dedicated to working with you patiently and efficiently, striving to achieve the best possible results.

Our aim is to make the process of transitioning into a first-time homeowner as smooth and hassle-free as possible, so that you can achieve your goals without unnecessary stress. Our team is dedicated to providing comprehensive support throughout the journey, and we’re always available to address any questions or concerns that may arise along the way. You can count on us to guide you through every step of the process and help you achieve your dream of owning your first home.

Are there ways to help me get onto the property ladder in Manchester?

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Presently, the government has implemented several initiatives to assist individuals in becoming First Time Buyers in Manchester and owning property. These initiatives comprise of Help to Buy schemes, Lifetime ISAs, and the Right to Buy Scheme. For additional details on these initiatives, kindly visit the guides section on our website.

Our mortgage advisors in Manchester possess knowledge about all the latest government initiatives and will be able to provide you with answers to any inquiries you may have concerning them.

What type of first time buyer mortgages can I get in Manchester?

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As a first time buyer in Manchester, you have access to various mortgage options tailored to your needs. These include:

Fixed-Rate Mortgages: These mortgages offer a fixed interest rate for a set period, typically 2, 3, 5, or 10 years. They provide stability in your monthly repayments.

Tracker Mortgages: Tracker mortgages have an interest rate that moves in line with the Bank of England base rate. Your repayments can go up or down based on this rate.

Repayment and Interest-Only Mortgages: You can choose between repayment mortgages, where you pay back both the principal and interest, or interest-only mortgages, where you only pay the interest during the term.

It’s crucial to consult with a mortgage broker in Manchester who can assess your financial situation and help you select the most suitable first time buyer mortgage option. They can also assist you in finding suitable mortgage deals available in the market.

Remember that mortgage availability and terms can change, so it’s essential to stay updated and seek mortgage advice in Manchester when making important financial decisions.

Why should I speak with a Mortgage Broker in Manchester?

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At Manchestermoneyman, we take into account various mortgage scenarios and strive to overcome any obstacles so that you can obtain the most suitable and advantageous mortgage deal for your specific circumstances.

Moreover, we provide a free initial mortgage consultation option for all our clients. Contact us today to talk about your mortgage possibilities with one of our quick and amicable mortgage advisors in Manchester.

Throughout our many years of service, our team at Manchestermoneyman has had the privilege of helping many First Time Buyers in Manchester achieve their dream of becoming homeowners. Our extensive experience in providing open and honest mortgage advice in Manchester and surrounding areas has been invaluable in guiding our clients through the complexities of the mortgage process and helping them find the best mortgage deals to suit their specific circumstances.

As a reputable mortgage broker in Manchester, we take pride in our expertise in assisting First Time Buyers in Manchester and regularly face various scenarios when interacting with them. We have gathered a list of popular First Time Buyer scenarios to help us better understand their needs and requirements.

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Our Simple Mortgage Process

Free 30-Minute Mortgage Appointment

Step 1

During your free mortgage appointment, you will get chance to speak with our expert mortgage advisor in Manchester, they will conduct a thorough assessment of your income and expenses.

We Can Search 1000s of Mortgage Deals

Step 2

Our team of experts can search 1000's of deals tailored for first time buyers in Manchester. This will set you on the right path towards becoming a homeowner. Following your consultation, we will promptly secure your mortgage agreement in principle (AIP), usually within 24 hours, a handy tool to have when making any offers on a property.

Submit Your Mortgage Application

Step 3

Once your offer on a property is accepted, our dedicated mortgage advisor in Manchester will take care of submitting your mortgage application and forward any additional documentation required by the lender.

Protecting You and Your Mortgage

Step 4

In addition to finding the most suitable mortgage deal for first time buyers in Manchester, our team is devoted to helping you obtain comprehensive insurance coverage to safeguard you and your loved ones financially.

Reasons to Choose us

Free Mortgage Appointment

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Get in touch, and we’ll get you booked in for your free mortgage appointment with one of our incredible advisors today. All our customers are offered a free mortgage appointment that will take place via telephone or through a Microsoft Teams call.

1000s of Deals

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In order to find you the perfect deal, we will search through 1000’s of mortgage deals. Being a first time buyer in Manchester, our goal is to ensure you are on the most appropriate deal for your circumstance. It’s not about finding you the perfect mortgage, our team are here to support you throughout the full process. As well as, we offer additional insurance products to make sure you are financially protected in an unexpected event.

Our Service

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We have a fantastic team of mortgage advisors in Manchester who have years of experience and knowledge from helping a plethora of first time buyers in Manchester on their journey to homeownership by providing them with a supportive and tailored service.

7 days a Week

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Every day of the week from early until late at night, our advisors provide the trusted mortgage advice you need and are just a phone call away at a time that is convenient for you. We treat every case as an isolated one making sure you are provided with the most fitting advice for your situation. As well as this, we strive in making the service as stress free as possible.

Malcolm and Amy Davidson - Mortgage Advice in Manchester

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Common First Time Buyer Mortgage Scenarios

How much can I borrow?

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It is understandable that many first-time buyers want to know the maximum amount they can borrow for a mortgage, as it can give them a better idea of their budget and the properties they can afford.

While a mortgage calculator can provide a rough estimate of how much you could borrow based on your financial situation, it is important to keep in mind that this may not be an accurate reflection of your personal situation. The amount you can actually borrow may depend on a range of factors, including your credit score, income, and expenses, as well as the specific lender’s criteria and the type of mortgage you’re applying for.

Therefore, it’s always a good idea to speak with a qualified Mortgage Advisor in Manchester to get a better understanding of how much you can borrow based on your personal situation. They can assess your individual circumstances and provide you with a more accurate estimate of how much you can borrow, as well as help you to find the best mortgage deal for your needs.

Ready to Make an Offer

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One of the advantages of utilizing our services as a Mortgage Broker in Manchester is that our team of mortgage advisors will provide you with ongoing support and guidance throughout the entire process, which can be highly beneficial.

Here at Manchestermoneyman, our expert team can help you obtain your mortgage agreement in principle on your behalf. Generally, we can get this sorted for you within 24 hours of your initial appointment. Keep in mind, that having an agreement in principle doesn’t automatically guarantee you a mortgage. It does, however, show the seller that you are ready and can proceed.

In summary, by using our services for Mortgage Advice in Manchester, you can benefit from our team’s expertise and guidance, which includes helping you obtain an AIP that can put you in a stronger position when making an offer on a property as a first-time buyer.

You’ve Had an Offer Accepted

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Prior to starting to make offers, we do strongly recommend getting in touch with an expert mortgage advisor in Manchester initially. When you get an offer accepted on the home, we can proceed with your mortgage application.

With the assistance of a mortgage advisor in Manchester, you will be able to find out if you are eligible for a mortgage, and get your AIP sorted so that you, the homebuyer, can back up any offers you put down.

Need an Agreement in Principle (AIP)

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As mentioned previously, making an offer with an agreement in principle on hand is very beneficial in the homebuying journey. Here at Manchestermoneyman, our team can generally get your mortgage agreement in principle sorted within 24 hours of your mortgage appointment.

Declined By Your Bank or Building Society

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Through our experience, we find that many people seek open and honest mortgage advice in Manchester after approaching a bank and being declined for a mortgage. There can be a variety of reasons why a bank may decline your mortgage application and it’s our job to find this out for you.

Our goal as an expert mortgage broker in Manchester is to explore a range of options in the hopes of finding you the one that is fitting for your personal and financial situation. As well as this, we have access to a large panel of lenders who offer specialist products.

Here at Manchestermoneyman, our team are available 7 days a week to provide updates on your process as well as answer any of your mortgage questions, which can be a massive benefit for first time buyer in Manchester. Contact us today and take advantage of the free mortgage appointment we offer to all our customers.

Mortgage Guides & 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

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