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First Time Buyer Mortgage Advice in York

Free First Time Buyer Mortgage Consultation in York

01904 405975

Holding your hand through the whole process

We know that the thought of buying your first home and taking that leap of faith onto the property ladder can be quite daunting, and that’s why we’re here to help.

 

We’ve been helping first time buyers for over 20 years; we have the experience and the knowledge to get you through the mortgage process. Once you get in touch with one of our mortgage advisors in York, we can get your mortgage journey started.

 

Competitive First Time Buyer Products

Our vast catalogue of both high street and specialist lenders will help you find a competitive product.

 

We can search through 1000s of deals, trying to locate one that perfectly matches your personal and financial situation. A mortgage broker in York like us only has your best interest at heart, our aim is to also save you time and money.

 

You can book your own mortgage appointment online! Choose your date and time to speak directly with a mortgage advisor in York.

 

How much deposit do I need for a mortgage in York?

Although depending on various factors such as your credit score, as a first time buyer, you’ll usually require a minimum of 5% of the property purchase price.

 

Unfortunately, if you do have a low credit score, you may have to put down a higher deposit, e.g., 10%-15%.

 

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

If you are struggling to meet the minimum required deposit, you may need to look at other ways of getting onto the property ladder. There are many different types of government-led schemes that can help you out, some may be more suited to your situation than others.

 

For example, if you are looking to buy a new-build property, the Help to Buy Equity Loan scheme could be for you, and if you are looking to purchase your council house, then it’s the Right to Buy scheme that you should look into.

 

If you want to get more information about the different schemes that are available, you should get in touch with our team. We know the ins and outs of every scheme and can check whether you can access any of them or not.

 

How does it work?Book OnlineMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Common mortgage scenarios in York

During our time spent working in the mortgage sector, we’ve built up close relationships with lenders and building societies. This has allowed us to access 1000s of competitive products.

 

Everyone’s mortgage situation is different, and not everyone will be able to access these top-end deals. There are many different situations that we come across, here are some of the most common first time buyer situations that we come across:

Need to find out how much you can borrow?

During the first stage of your mortgage journey, you’ll need to work out how much you can borrow. There are a couple of different ways that you can do this.

 

You can either use our free online mortgage affordability calculator or for an accurate measure, you can get in touch with us. We will look at your income, credit file and expenditures to calculate how much you can borrow for a mortgage.

Ready to make an offer?

Once you’ve found your dream home that you want to make an offer on, firstly, you’ll need to arrange the mortgage part of the process. Once you’re in this position, it may be wise to speak with a mortgage advisor in York.

 

It’s nice and easy to book a mortgage appointment online. We are open 7 days a week, so you can book in with an advisor on a weekend if that works better for you.

Has your offer been accepted?

If your offer has already been accepted, you’re ready to start your mortgage process straight away.

 

Using a mortgage broker in York like us could speed up your mortgage process. We know exactly what we’re doing during every point of the mortgage process.

Need an agreement in principle?

Having an AIP is an essential part of your mortgage journey. You must have one in order to move forward with your mortgage application.

 

We can arrange an AIP for you within 24 hours of your enquiry. So, if you need a quick turnaround to support your offer, feel free to get in touch with our team.

Struggling to get accepted by your lender?

Whatever the reason is for being declined by your lender, we would advise that you don’t keep applying. There may be something on your file that you don’t know about that is harming your application.

 

The more that you apply, the greater the damage on your record. Let us help you if you’re struggling with your mortgage process, we have experience and specialist knowledge in this sector.

Why choose us for First Time Buyer Mortgage Advice in York?

We have been delivering mortgage advice in York for over 20 years now, we know exactly what we’re doing. With the combination of our experience and knowledge, we will try our best to get you a perfect mortgage deal.

Open & honest

Part of our job as a mortgage broker in York is to be completely transparent with you. We will be always open and honest with you.

 

If we cannot find you a better rate than what you’re currently on/have been offered, we will make sure that you’re aware of this.

7 days a week

You can book your own mortgage appointment online through our ‘Get Started’ process. We have availability 7 days a week and are open until late!

 

Book a free mortgage appointment and start your mortgage process today.

Our reviews

Overtime, we’ve collected many customer reviews. Every review shows how invaluable our service is and how much our customers have loved it.

 

Take a look at our outstanding reviews and see them for yourself.

We can search 1000s of deals

Yorkmoneyman can access a wide range of competitive mortgage products. We have both specialist and high street products to hand.

 

We will search the market and try and find you a deal that matches your personal and financial situation perfectly.

What our customers say

Common mortgage
questions

As your Mortgage Broker in York, we will start with a Fact Find. During this stage of the process, we will get a better view of your personal and financial situation which will help us when selecting a mortgage deal.

You will then have a credit check performed on you, this step is essential in order to obtain an Agreement in Principle. Once you’ve handed us all of the relevent documentation and a valutation of the property has been completed, a formal mortgage offer can be offered.

Your initial mortgage consultation will take around an hour, afterwards, we will try and arrange an Agreement in Principle for you within 24-hours of your consultation. The final step is submitting your application and waiting for a formal mortgage – this can take about three weeks.

As a Mortgage Broker in York, we always recommend trying to have an Agreement in Principle in place prior to viewing properties. An Agreement in Principle could put you in a position that would let you negotiate prices.

Your free initial mortgage consultation will approximately last an hour. During the consultation, we will ask you some questions and get a bigger picture of your personal and financial mortgage situation.

After the consultation, your dedicated Mortgage Advisor in York will begin searching for mortgage products, trying to secure you one that’s more competitive than your current rate. Once we find a product for you, it’s up to you whether you want to take the offer or not. If so, we can get the ball rolling and start the mortgage application submission process.

Yes, you can obtain a second mortgage in some cases. Whether it’s for home improvements, debt consolidation, for a Buy to Let or a holiday home, you should know that our Mortgage Advisors in York can help you with this.

When making a deposit on a property, High Street lenders will usually ask for a minimum of a 5% deposit. If you’ve had previous credit problems you may be asked to provide a higher deposit.

You may find it slighter harder to get accepted for a mortgage with previous credit problems, however, it’s not impossible! The difference is that you may be asked to put down a higher deposit than usual, perhaps 10-15% of the property purchase price.

If you manage to submit at least one year’s accounts, you are able to get a mortgage. As a Mortgage Broker in York, we see that a lot of lenders use your salary plus dividend to work out the maximum mortgage amount that you would be able to borrow. We’ve also seen some lenders go off your net profit.

Here are all of the documents that you’ll need to support your mortgage application in York

  • Photographic ID (Driving license, Passport, etc.).
  • Proof of Address (Utility bills, tax bills, credit card statements, etc.).
  • Latest 3 months’ payslips & Latest P60 (employed applicants)
  • Latest 2 years’ tax calculations and corresponding overviews (self-employed applicants)
  • 3 months’ bank statement proving the deposit being built-up with an explanation for any large credits.

Once you obtain an Agreement in Principle, it should last around 30-90 days. This will depend on the lender that you’ve used.

If your Agreement in Principle expires, you can easily renew it by contacting your Mortgage Broker in York or your lender.

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

Enjoy finding a property in York!

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

Yorkmoneyman.com & Yorkmoneyman 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 Yorkmoneyman

Yorkmoneyman, York Hub, Popeshead Court Offices, Peter Lane, York, YO1 8SU.

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