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Help to Buy Mortgage Advice in Manchester

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Help to Buy Mortgage Advice in Manchester
Across All Schemes

Since the introduction of the Governments Help to Buy schemes back in 2013, the number of First Time Buyers starting to climb the property ladder has increased. We’re very experienced in this area, we have a team of Help to Buy Mortgage Advisors in Manchester who are available from 8am-10pm, 7 days a week, so if you have any questions, don’t hesitate to call.

 

There are quite a few different Help to Buy schemes available, however, some are more popular than others. There is the Help to Buy Equity loan scheme and the Help to Buy Shared Ownership loan scheme:

 

How the Help to Buy Equity Loan Scheme Can Help

With a Help to Buy: Equity Loan, the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. You won’t be charged loan fees on the 20% loan for the first five years of owning your home. You won’t be charged loan fees on the 20% loan for the first five years of owning your home.

 

 

Help to Buy: Equity Loan scheme Example

 

 

If the home in the example above sold for £200,000, you’d get £160,000 (80%, from your mortgage and the cash deposit) and you’d pay back £40,000 on the loan (20%). The mortgage would be paid off with your share of the money.

 

How the Help to Buy Shared Ownership Scheme Can Help

This scheme was brought in by the government to allow homebuyers to purchase a percentage of a mortgage then pay the rest on back with rent. For example, you could buy a share of a home (which has to be between 25% or 75%) and then you will have to pay rent on the percentage of the remaining of the property value that you don’t own. This means that you have a share in the property, and this share percentage can be increased at a later date, people usually do this when they have more money.

 

How does it work?Get a quote nowMeet your advisor

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Your Mortgage Broker in Manchester is here to provide you with expert Help to Buy Mortgage Advice.

We will always recommend the best option for your individual circumstances and make sure that you feel happy and secure through the whole Help to Buy process.

 

Here are some of the most common Help to Buy mortgage situations that we come across:

  • This makes it possible to buy a home with just a 5% deposit whilst Help to Buy Shared Ownership deposits are typically much lower than buying traditionally.
  • With a Help to Buy: Equity Loan, the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

 

Get in touch with a Mortgage Advisor in Manchester and receive a free mortgage consultation.

 

Find out more information about the Help to Buy schemes available to you at Gov.uk

Why should you choose us as your Mortgage Broker in Manchester?

As a Mortgage Broker in Manchester, we assist clients with all types of mortgages, including those under the Help to Buy scheme. Once you make contact with us, we will walk you through the whole process, from start to finish.

 

If you have already found a new home that you want to buy that falls within the remit of the Help to Buy scheme, we will go through the paperwork with you and even liaise with the home builder or estate agent on your behalf.

 

Not only will we deal with your mortgage but we can also help if you need advice with regard to surveyors or solicitors.

 

As part of your initial free mortgage consultation, we will go through all of the figures with you so that you know exactly how much you will be paying each month.

 

As your Mortgage Advisor in Manchester, we are here to help you. Get in touch with us today and make a date for your free mortgage consultation.

What our customers say

Common mortgage
questions

You will need to have at least 5% of the sale price of your new build property in Manchester. The Government will then loan you up to 20% to the properties value.

Your free mortgage consultation in Manchester will last round about 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 Manchester, 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 Manchester. At the very latest you should obtain one prior to making an offer to assist your bargaining position. As your Mortgage Broker in Manchester, we can usually turn round an agreement in principle within 24 hours of your mortgage application.

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 in Manchester 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.

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 in Manchester. 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

Give us a call and a Mortgage Advisor in Manchester will recommend the best Help to Buy scheme based on personal circumstances.

Step 2

Enjoy finding your dream home in Manchester

Step 3

Make an offer on the property and once accepted, we will progress your mortgage application.

Step 4

We will be here to answer all of your mortgage questions right through till you get 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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