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Help to Buy Mortgage Advice in York

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Help to Buy Mortgage Advice in York
Across All Schemes

The Help to Buy schemes are a great way to get onto the property ladder but they can be incredibly complex. When we work with you, we use our experience to help and try to make sure that there are no unpleasant surprises and that it is not at all intimidating.

 

We will assist you during the whole process, ensuring that you know what is going to happen and when. Always at the end of the phone when you need us, if you need advice or a deeper understanding of the Help to Buy scheme, we are here to support you.

 

Having the Yorkmoneyman.com working on your behalf is incredibly beneficial when you need a Mortgage Broker in York to support you.

How does the Help to Buy Equity Loan Scheme work?

This scheme can only be accessed by First Time Buyers. Here are a few key facts about the scheme:

 

You will require a minimum of 5% deposit

Up to 20% of the property’s value will be treated as an equity loan from the Government

The balance will be covered by a special Help to Buy mortgage.

How do you qualify for the Help to Buy scheme?

 

We will advise you as to whether or not you can qualify for this scheme. It’s all part of our tailor-made service.  Help to Buy Equity loans apply to new-build properties up to a maximum value of £600k. It’s worth mentioning that only First Time Buyers can qualify.

 

Part of the terms and conditions specify that you should not own any other property i.e. you cannot buy a second home with the help of this scheme.  Part-exchange and sub-letting is also not allowed.

 

Help to Buy Shared Ownership

 

With the Help to Buy Shared Ownership scheme, you will usually buy as little as 25% or as much as 75% of a home and pay rent on the rest.  If you can’t quite afford the mortgage on 100% of a home, Help to Buy: Shared Ownership offers you the chance to buy a share of your home (usually between 25% and 75% of the home’s value, although, it can be as low as 10% on some properties) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to.

 

As your expert Mortgage Broker in York, we are able to provide Help to Buy Mortgage Advice across all schemes. Find out more information about Help to Buy schemes available to you and the most common Help to Buy mortgage scenarios below.

 

How does it work?Get a quote nowMeet your advisor

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

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

 

We will always recommend you the best option for your individual circumstances and our Mortgage Advisors in York will make sure that you feel happy and secure throughout the entire 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 York and receive a free mortgage consultation.

Find out more information about the Help to Buy schemes available to you at https://www.ownyourhome.gov.uk/

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

As a Mortgage Broker in York, we assist clients with all types of mortgages, including those under the Help to Buy scheme. Once you get in touch with our Mortgage Broker in York, 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 our Mortgage Advisors in York deal with your mortgage but the team at our Mortgage Broker in York can make sure they will go the extra mile and help you if are seeking certain advice with regard to surveyors or solicitors.

 

As part of your initial free mortgage consultation, our Mortgage Advisors in York will go through all of the figures with you so that you know exactly how much you will be paying each month and it’s affordable in the future.

 

Check out our feedback at Reviews.co.uk and see why so many people choose us when looking for a Help to Buy mortgage.

 

As your mortgage advisor in York, 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

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.

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.

For a Help to Buy mortgage in York, you’ll need a minimum of a 5% deposit. On top of your 5% deposit, the government will loan you an extra percentage to make up a total of a 25% deposit. For example, if you had a 10% deposit, you would receive an extra 15%.

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

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

Step 2

Enjoy finding your dream home in York

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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UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
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