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Help to Buy Mortgage Advice in Leicester

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Help to Buy Mortgage Advice in Leicester
Across All Schemes

The Help to Buy Schemes has created a positive impact for First Time Buyers looking to get onto the property ladders. At this moment in time, there are numerous options to choose from, depending on if you are eligible.

 

If you are wondering which scheme would be fitting for your circumstances, this is when we, as an open and honest Mortgage Broker in Leicester can help by keeping you up to date on the different eligible schemes for you.

 

As mentioned, not all schemes are available to you because it’s likely you will only qualify for certain ones. With a Mortgage Advisor in Leicester by your side, you can find out which ones is eligible to you before you begin the application process.

 

How does the Help to Buy Equity Loan Scheme work? 

Many First Time Buyers in Leicester wanting to get onto the property ladder have benefitted from the Help to Buy Equity Loan Scheme. This used to be available to homeowners looking to move home, however, as of 2021, this is no longer an option.

 

Check out the facts below to find out how the Help to Buy Scheme works:

 

-A deposit of 5% minimum is required

-A maximum of 20% of the property’s value will act as an equity loan from the Government.

-The balance left over will be covered by a mortgage

How do you qualify for the Help to Buy Scheme?

Our tailored service can help you determine whether or not you qualify for the scheme. Help to Buy Equity Loans apply to new-build properties up to a maximum value, this is dependent on where you are located in England.

 

Help to Buy Shared Ownership

You can buy a share in a property through the Help to Buy Shared Ownership Scheme. The percentage can vary between 25% and 75%. Depending on circumstances, you may the choice to purchase as little as 10%. The remaining percentage will be covered through you paying the rent.

 

Here at Leicestermoneyman, we can provide open and honest Help to Buy Mortgage Advice in Leicester across all schemes. If you are looking to find out more information regarding the Help to Buy Schemes available to you as well as the most common Help to Buy mortgage scenarios look at the information below.

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

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

Our hard working team will always recommend the most suitable option for your financial and personal situation. We strive to provide a service that makes you feel happy, stress-free and well updated. We are always by your side throughout the full Help to Buy mortgage journey.

 

There is a chance you can buy a home with just 5% deposit through the Help to Buy Scheme in Leicester whilst the Help to Buy Shared Ownership deposits are usually much lower than buying traditionally.

 

When it comes to a Help to Buy Equity Loan, the Government lends you up to 20% of the cost of your newly built home, therefore, you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

 

Contact us to get connected to a Mortgage Advisor in Leicester and receive a free mortgage appointment today.

 

Get in touch with a Mortgage Advisor in Leicester 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/

 

How would I know I qualify for any Help to Buy Schemes?

Firstly, we need to know if you are eligible or not for any of the available schemes. If you are qualified for any of the schemes available, we will then proceed with finding the most suitable mortgage.

 

If you are looking for more information on the various schemes available, get in contact to speak to one of our knowledgeable Mortgage Advisors in Leicester today.

 

An example of how the scheme may vary is that the Help to Buy Equity Loan is only available when used for newly built homes by a registered builder.

 

This is only for First Time Buyer in Leicester who match the required criteria depending on your circumstances.

 

As mentioned previously, it’s required that you don’t own any other property when looking to purchase your new home.

 

To find out more information about the Help to Buy Schemes available to you, check out the Government Own Your Home website.

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

As a Mortgage Broker in Leicester, we have rich experience and knowledge in providing Mortgage Advice in Leicester. From the first initial contact to obtaining the keys to their new home, every customer is guided by our dedicated mortgage advice to get them through the full mortgage process.

Get in touch with us to speak to an expert Mortgage Advisor in Leicester today. Through our experience, we have encountered numerous enquiries from other customers looking to start their Help to Buy Scheme journey.

As soon as you have found a new home that you are looking to buy, and it matches the criteria for taking out a mortgage through the Help to Buy Scheme, it’s then time to start looking through the paperwork with you as well as speaking with the home builder or estate agent on your behalf id needed.

Our team love to help customers beyond the mortgage process which is why we are available to you if you are looking into surveyors or solicitors. We can provide the advice you need for this as well as discussing exactly you may require for that.

Your initial free mortgage appointment with involve you meeting your dedicated Mortgage Advisor in Leicester who will guide you through all your documentation in order for you to have an idea of the balance you will be paying monthly for your mortgage deal.

Speak to us today to get yourself booked in for your free mortgage appointment to chat with one of our knowledgeable Mortgage Advisors in Leicester, who will be your helping hand throughout the mortgage journey being their every step of the way.

What our customers say

Common mortgage
questions

You will need to put forward at least 5% of the sale price of your new build property in Leicester. The Government will then loan you an additional 20% of the value of the property to make this up to 25%. You must remember though, that this is absolutely just a loan and you will need to pay this back eventually.

Your free mortgage consultation in Leicester will last for about one hour. Your advisor will then recommend a mortgage for you and you can decide whether or not you wish to go ahead with it.

As your Mortgage Broker in Leicester, we will carry out a Fact Find to determine your needs prior to recommending a mortgage that is the most appropriate. 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.

We recommend that you obtain an Agreement in Principle ahead of viewing properties in Leicester, to avoid any potential disappointment. At the very latest we believe you should obtain one prior to making an offer to help with your bargaining position

An Agreement in Principle will usually last for between 30 and 90 days depending on the Lender. If your Agreement in Principle expires it can always be refreshed with the assistance of your mortgage advisor.

You may possibly be able to get a second mortgage on your home for debt consolidation or Home Improvements. The usage of a second mortgages extends to using it for yourself, a family member, a holiday home or a Buy to Let in Leicester.

If you have had problems with your credit, you can still get a mortgage, however, you may need to put down a higher deposit than usual, often 15% of the purchase price.

You are able to get a mortgage once you have submitted at least one year’s accounts. Most Lenders use your salary plus dividend to calculate the maximum mortgage amount you can borrow, whereas others go off your net profit.

To prove your income amount, it’s usually the latest three payslips for an employee and the latest 2 years’ accounts for self-employed. On top of this, you will need to produce proof of ID, address and 3 months’ bank statements.

Our free consultation will usually lasts up to an hour or so. Your mortgage advisor can turn around an agreement in principle within 24 hours of this consultation and a formal mortgage offer takes about three weeks on average in Leicester.

We make it so easy!
Our 4 step process

Step 1

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

Step 2

Enjoy finding your dream home in Leicester

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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Leicestermoneyman.com & Leicestermoneyman 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 Leicestermoneyman

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