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First Time Buyer Mortgage Advice in Essex

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It’s understandable if you’re nervous as a First Time Buyer and that you may feel a little anxious about the process – The market holds a lot of competition and Estate Agents do tend to apply abit of pressure to First Time Buyers in Essex. Our Mortgage Advisors in Essex will go at the pace you want only to work effectively alongside you in order to ensure your property-owning dreams come to life.

Finding The Right Deal | Mortgage Advisor in Essex

It’s our job as a Mortgage Broker in Essex to search through thousands of mortgage deals, to find the right mortgage based on your circumstances. Whether you’re buying for yourself, with a friend/partner, or are having mortgage problems in Essex, our Mortgage Advisors in Essex can usually help. Having your Agreement in Principle handy at all times is a good idea, especially if you’re ready to make an offer. We are able to help you out with this with impartial Mortgage Advice in Essex.

 

How Much Deposit Will I Need?

The minimum deposit required for a first-time buyer in Essex is 5%. Deposit can come from your own savings or even a gifted deposit from a friend or family member. In some cases, you can have a combination of both gift and savings.

 

Are You Currently Renting?

In many cases, buying a property and taking out a mortgage can be cheaper than privately renting. If you’ve thought about buying the property you’re currently in from your landlord or housing association, it’s worth checking your eligibility for the Right to Buy Scheme. Speaking to your local authority should allow clarification on this.

 

 

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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First Time Buyer Mortgage Advice in Essex

  • Are you trying to get an idea of how much you’re able to borrow ahead of time and how much it may cost before viewing properties?
  • Already seen a property that you want and hope to make an offer?
  • Had your offer already accepted and want to proceed with your mortgage application?
  • After a Mortgage Agreement in Principle Certificate to back-up any offers you are wanting to carry out as soon as possible?
  • Already visited your Bank’s Mortgage Advisor and been declined? i.e. poor credit, income mix, the bank won’t lend enough, not fitting their lending criteria etc
  • Do you have an unusual or complex mortgage situation and need help?

Contact us your Mortgage Broker in Essex to book your free mortgage consultation.

How We May Able to Help

During the time that you’re with us, we make sure only to work with the information that you work with us and the aim that you have in mind for your mortgage. This is why we make sure to stay away from estate agents, banks and building societies. When our Mortgage team in Essex deal with your application, they will make sure to keep the process simplified and as stress-free as possible without industry jargon. We make sure they also go the extra mile to source conveyancing and Solictor quotes for you – We’re with you for the whole journey!

Contact us to book your free mortgage consultation.

What our customers say

Common mortgage
questions

Your free mortgage consultation in Essex will last around 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 Essex, we carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for you. A credit check gets 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 rejection, we recommend you obtain an Agreement in Principle before you begin viewing properties in Essex. At the very latest we also recommend, you should obtain one prior to making an offer to assist your bargaining position.

An Agreement in Principle typically lasts for between 30 and 90 days depending on the Lender used. This can always be refreshed if it happens to expire.

If you’re thinking about the future of your property, whether you’re looking at debt consolidation or home improvements, you may eligible for a second mortgage. This may also be a possible option if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

The minimum deposit you would require when purchasing a house in Essex with High Street Lenders is typically 5%. This can be higher if you have had credit issues in the past.

The good news is 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 can get a mortgage. A large majority of Lenders use your salary plus dividend to calculate the maximum mortgage, whereas others are known to go off your net profit.

For an employee to prove income, It’s usually three payslips and the latest 2 years’ accounts for Self Employed. You will also need to produce proof of ID, address and 3 months’ bank statements.

A standard initial mortgage consultation with one of our Mortgage Advisors in Essex can take around 1 hours. We can normally produce an Agreement in Principle within 24 hours and achieve a formal mortgage offer within 3 weeks.

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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!

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.

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Essexmoneyman.com & Essexemoneyman 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.


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