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Help to Buy Mortgage Advice in Doncaster

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Help to Buy Mortgage Advice in Doncaster
Across All Schemes

Since the introduction of the Governments Help to Buy scheme back in 2013, the number of First Time Buyers starting to climb the property ladder has increased. We’re very experienced in this area, with experienced Mortgage Advisors in Doncaster who are always happy to answer your questions regarding this scheme.

 

Buying a new home can be full of surprises and at times, quite intimidating, especially if it’s your first time doing so.

 

We will be here to support you, with no vested interest, throughout the whole process. From your initial enquiry to getting the keys to your dream home, we will be by your side.

 

It is also quite important you understand that when buying a new build, things may not go the way you want them to and having an experienced mortgage broker with you on the journey can prove invaluable.

 

How the 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.

 

 

If for example your home 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%). You’d need to pay off your mortgage with your share of the money.

 

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 Doncaster is here to provide you with expert Help to Buy Mortgage Advice

As an experienced Mortgage Broker in Doncaster, we will always recommend the best option for your individual and financial circumstances. We want 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 Doncaster 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 Doncaster?

As a Mortgage Broker in Doncaster, 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 roughly how much you will be paying each month.

 

As your Mortgage Advisor in Doncaster, 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 typically be required to have at least 5% of the sale price of your new build property in Doncaster as a deposit. The Government will then loan you up to 20% to the properties value as an additional amount, bringing your deposit up to 25% and potentially lowering monthly repayments. It’s important to remember though, that this is in fact a loan and will need to be paid back.

Your free initial mortgage consultation in Doncaster will last roughly one hour. We will then be on our way to recommending a mortgage for you, where you have no obligation for you to proceed. If you’d rather not take it and step back for a time, you have every right to do so.

Your mortgage advisor in Doncaster will carry out a Fact Find to establish your personal mortgage needs, before recommending the most suitable mortgage for your situation. A credit check will then be required in order for you to obtain an Agreement in Principle, which we are able to help with. Once you have provided the lener with all the relevant documentation, and you have had a valuation of the property completed, a formal mortgage offer can then be issued.

To avoid finding yourself disappointed when viewing and making offers on properties, we recommend you obtain an Agreement in Principle ahead of time. At the very latest, we recommend that you obtain one prior to making an offer, as this will assist your bargaining position.

An Agreement in Principle will usually last for between 30 and 90 days depending on the Lender that you are with. If your Agreement in Principle expires, you can easily have it refreshed.

You may have the option of taking out a second mortgage on your home for things like debt consolidation or any potential Home Improvements. It may also be possible to take out a mortgage on a second property to use on yourself, for a family member, a holiday home or even a Buy to Let.

If you’ve had credit problems previously, you may still have a chance at getting a mortgage, but you may possibly be required to put down a higher deposit than for the property than you might have if you had with good credit. This can often be 15% of the property purchase price.

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

You’ll generally be required to send three payslips if you are a standard employee to prove income and the latest 2 years’ accounts for self-employed. You will also need to produce proof of ID, proof of address and the previous 3 months’ bank statements.

The free mortgage consultation that you receive when getting in touch, will typically last up to an hour. We can help you obtain an agreement in principle within 24 hours of this consultation, with a formal mortgage offer taking on average about three weeks.

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We make it so easy!
Our 4 step process

Step 1

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

Step 2

Enjoy finding your dream home in Doncaster

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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