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Mortgage Guarantee Scheme in Essex

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Mortgage Guarantee Scheme in Essex

The Mortgage Guarantee Scheme in Essex can help you get on the property ladder with just a 5% deposit!

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What is the Mortgage Guarantee Scheme in Essex?

The Mortgage Guarantee Scheme in Essex is a government-backed initiative aimed at helping buyers secure mortgages with just a 5% deposit.

This is particularly beneficial for those who are struggling to save a larger deposit. By offering a guarantee to lenders, the scheme encourages them to provide more 95% loan-to-value mortgages.

For expert guidance, it’s best to speak with a mortgage broker in Essex.

 

Mortgage Guarantee Scheme in Essex

How does the Mortgage Guarantee Scheme work in Essex?

The Mortgage Guarantee Scheme in Essex works by offering lenders a government guarantee on mortgages with a 5% deposit.

This support helps lenders provide more 95% mortgages to home buyers.

If you’re considering applying, mortgage advisors in Essex can provide tailored mortgage advice in Essex, ensuring you understand the process and find the most suitable deal.

The scheme has helped 1000s of people become homeowners after being launched in January 2021.

What is the criteria for the Mortgage Guarantee Scheme in Essex?

  • The scheme is open to both first time buyers and existing homeowners looking to move.
  • The property you intend to purchase must not exceed £600,000. This applies to both new builds and existing properties.
  • You must provide a deposit of at least 5% but less than 20% of the property’s purchase price.
  • The property must be a residential home in the UK. Buy to let properties and second homes are not eligible under this scheme.
  • Only repayment mortgages are eligible.
  • You must pass the lender’s credit check criteria.

For more information on your eligibility, please get in touch with our mortgage advisors in Essex.

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Mortgage Guarantee Scheme FAQs in Essex

What are the benefits of using the Mortgage Guarantee Scheme in Essex?

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The Mortgage Guarantee Scheme in Essex allows buyers to secure a mortgage with just a 5% deposit, making it easier for first time buyers and home movers to get on the property ladder.

By speaking with a mortgage broker in Essex, you can get tailored mortgage advice in Essex to understand the benefits and find the best deal suited to your needs.

Can a mortgage broker in Essex help me with the Mortgage Guarantee Scheme?

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Yes, a mortgage broker in Essex like us can guide you through the Mortgage Guarantee Scheme in Essex.

We have access to various lenders and can provide personalised mortgage advice in Essex, ensuring you meet the scheme’s criteria and secure the right mortgage.

How is my eligibility assessed for the Mortgage Guarantee Scheme in Essex?

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Mortgage advisors in Essex will review your financial situation, including your income, credit score, and deposit size, to assess your eligibility for the Mortgage Guarantee Scheme in Essex.

With their expert mortgage advice in Essex, our team can match you with the most suitable lenders who are part of the scheme.

Do all mortgage lenders in Essex offer the Mortgage Guarantee Scheme?

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Not all lenders offer the Mortgage Guarantee Scheme in Essex.

Working with a mortgage broker in Essex gives you access to lenders that do. With their mortgage advice in Essex, brokers can identify which lenders participate in the scheme and help you find the right one.

Can I access the Mortgage Guarantee Scheme with a low credit score?

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Yes, even if you have a low credit score, mortgage advisors in Essex can still offer mortgage advice in Essex tailored to your situation.

They will review your credit history and explore options within the Mortgage Guarantee Scheme in Essex, guiding you through the available lenders willing to consider your application.

Is the Mortgage Guarantee Scheme in Essex only for first time buyers?

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No, the Mortgage Guarantee Scheme in Essex is available to both first time buyers and home movers.

A mortgage broker in Essex can provide expert mortgage advice in Essex, explaining how the scheme works and whether it suits your circumstances, regardless of whether you’re a first time buyer or an existing homeowner.

Our Simple Mortgage Process

Free Mortgage Appointment

Step 1

Start your journey with the Mortgage Guarantee Scheme in Essex by booking a free appointment with one of our experienced mortgage advisors in Essex.

They will provide tailored mortgage advice in Essex, ensuring you understand every step of the process.

We Can Search 1000s of Mortgage Deals

Step 2

Your dedicated mortgage broker in Essex will search thousands of mortgage deals, including those available through the Mortgage Guarantee Scheme in Essex.

This ensures that you find the most suitable mortgage to fit your circumstances.

Submit Your Mortgage Application

Step 3

Once you’re happy with the mortgage deal, your mortgage broker in Essex will guide you through the application process, ensuring it aligns with the Mortgage Guarantee Scheme in Essex criteria.

We handle everything for you, making it as straightforward as possible.

Protecting You and Your Mortgage

Step 4

Our support doesn’t end there.

Our mortgage advisors in Essex will offer ongoing mortgage advice to protect both you and your mortgage, ensuring you stay on track even after securing your home through the Mortgage Guarantee Scheme in Essex.

Reasons to Choose Us

Free Mortgage Appointment

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We offer a free mortgage appointment with one of our expert mortgage advisors in Essex.

They will provide tailored mortgage advice in Essex, helping you explore all your options under the Mortgage Guarantee Scheme in Essex and guiding you toward the best possible deal.

1000s of Deals

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As a trusted mortgage broker in Essex, we have access to thousands of mortgage deals, including those offered through the Mortgage Guarantee Scheme in Essex.

Our wide network allows us to find the most suitable mortgage tailored to your financial situation.

Our Service

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Our service is built around providing clear and straightforward mortgage advice in Essex.

We handle everything from start to finish, ensuring that your application for the Mortgage Guarantee Scheme in Essex is processed smoothly, making your journey to homeownership hassle-free.

7 days a Week

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We understand that life can be busy, so our mortgage advisors in Essex are available to offer mortgage advice seven days a week.

This flexibility means you can discuss your options for the Mortgage Guarantee Scheme in Essex at a time that suits you.

Malcolm and Amy Davidson - Mortgage Advice in Essex

We Search 1000s of Mortgage Deals in Essex

Fleet Mortgages
Paragon Mortgages
TSB Mortgages
Halifax
Bluestone Mortgage Advice
BM Solutions Mortgages
Chorley Building Society
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HSBC
Nationwide
Skipton
Pepper Money
Mortgage Works
Coventry Building Society
Santander
Natwest Mortgage Advice
Newcastle Building Society
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Accord Mortgages
Aldermore Mortgage Lender
Beverley Building Society
Kent Reliance
Virgin Money & Mortgages
Leeds Building Society
Scottish Widows
Foundation Home Loans

Others Schemes Available in Essex

Shared Ownership in Essex

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Shared Ownership in Essex allows you to buy a portion of a property (typically between 25% and 75%) and pay rent on the remaining share.

Our mortgage advisors in Essex can offer tailored mortgage advice on this scheme, helping you understand how to gradually increase your ownership over time.

Right to Buy in Essex

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If you’re a council tenant, the Right to Buy scheme in Essex gives you the chance to buy your home at a discounted rate.

Our mortgage broker in Essex can guide you through the process, ensuring you find a mortgage deal that suits your situation.

First Homes Scheme in Essex

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The First Homes scheme offers properties to first-time buyers at a significant discount.

We offer expert mortgage advice in Essex to help you navigate this scheme, from checking eligibility to finding the best mortgage deals.

Forces Help to Buy in Essex

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This scheme is designed for members of the armed forces, allowing them to borrow up to 50% of their annual salary (capped at £25,000) to help with buying a home.

As a dedicated mortgage broker in Essex, we assist service personnel in understanding the application process and finding the right mortgage.

Mortgage Guides

Essexmoneyman.com & Essexmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

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