Help to Buy Mortgage Advice in Essex | Essexmoneyman

Help to Buy Mortgage Advice in Essex

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Help to Buy in Essex – Mortgage Advice Across All Schemes

The Help to Buy Scheme is a popular mortgage scheme that is widely used by first time buyers in Essex. Whilst it may have it’s own challenges from time to time, it’s considered to be a very useful mortgage scheme, propelling many onto the property ladder.

 

By enlisting the help of a trusted and knowledgeable mortgage advisor in Essex, you’ll likely be able to overcome many of the hurdles in your way, as our team of mortgage experts always work hard to ensure our customers receive an easier, free from stress service.

 

A member of our dedicated team will be on hand to make sure you are guided throughout every step of your entire mortgage experience, being kept informed of any updates or changes that take place throughout your process, as well as anything else that you, as our customer, need to be aware of.

 

Our team will always put the customer first, making sure that your best interests are at heart, being supported in any way that we can help.

How does the Help to Buy Equity Loan Scheme work?

The Help to Buy Equity Loan Scheme was created as a way of giving first time buyers the chance to find their footing on the property ladder. Previously, this scheme would also apply to home movers as well, though the scheme was updated back in April 2021, with it now only being accessible by first time buyers.

 

Here are some key details that you should remember about Help to Buy in Essex:

 

– You must make sure you have at least 5% deposit from your own funds.

– The government will allow you to borrow up to 20%, totalling your deposit at 25% overall.

– This is purely a loan, and the money the government gives you, will need to be paid back.

– A Help to Buy in Essex is only available on New Build properties.

– Your overall mortgage amount will be supported by a special Help to Buy mortgage.

How do you qualify for a Help to Buy in Essex?

We will review your circumstances and advise as to whether or not you would be able to qualify to take out a mortgage using a Help to Buy in Essex. This is all a part of our tailored mortgage advice in Essex.

 

Help to Buy Equity Loans will only be usable on New Build purchases from first time buyers, with the maximum amount of mortgage being completely dependant on the area that you are looking to purchase your home in. We would suggest checking the Own Your Home website to learn more about these figures.

 

You are prohibited from part exchange or sub-letting and cannot purchase a second home using this scheme.

Help to Buy Shared Ownership

By making use of the Help to Buy Shared Ownership Scheme, you will have the ability to purchase a share in a property, rather than the full amount.

 

We generally find that the percentage of a property of which someone will buy is around 25% to 75%, though depending on specific circumstances, you may be able to purchase as small as 10% of the property. The percentage that is remaining will be paid back as a monthly fee.

 

If you are finding it particularly difficult to purchase 100% of a home, the government Help to Buy Shared Ownership Scheme is a great way for allowing first time buyers to find their footing on the property with a smaller overall purchase price, possibly having the opportunity to increase their shares at a later date.

 

As a mortgage broker in Essex with a strong reputation and years of experience in the world of mortgages, we have a vast knowledge of all the schemes that are available for Help to Buy in Essex. We are able to use this knowledge in order to help countless first time buyers find their place as homeowners.

 

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Expert Mortgage Advice for Help to Buy in Essex

Our open & honest, hard working team team of dedicated mortgage advisors in Essex will always look to make sure that they are recommending to you, the most appropriate mortgage deal for your circumstances.

 

Our job is to make sure you have a much easier, stress-free process than you otherwise would have, without the services of a mortgage broker in Essex.

 

A Help to Buy in Essex was designed as a way to help first time home buyers in purchasing their home with only a 5% deposit.

 

Typically speaking, because you are not going to be taking out a mortgage on the full amount, Help to Buy Shared Ownership deposits will be lower than other mortgages. You will still need at least 5%, however.

 

With a Help to Buy Equity Loan (note; it is absolutely that, a loan that needs to be paid back), you’ll receive up to 20% of the cost of your New Build property meaning you’ll only really need to put down a 5% cash deposit, totalling overall at 25% and giving you a much more preferable 75% mortgage to pay back.

Help to Buy in Essex – Do I Qualify?

It is essential before we look at helping you obtain a Help to Buy in Essex, to make sure that you will definitely qualify for one of the various Help to Buy Schemes that are available to home buyers in Essex and surrounding areas.

 

To look more in-depth at how these different Help to Buy Schemes work and which ones may be more applicable to your case, book yourself in for a free mortgage appointment today and speak with one of our expert mortgage advisors in Essex, who will be able to appropriately advise you regarding a Help to Buy in Essex.

 

If we were to take a look at an example of how these mortgage schemes can differ from each other, the Help to Buy Equity Loan is only accessible when used on New Build properties, with the maximum amount being entirely dependant on the location that you are looking to move to.

 

Remember, in order for you to take advantage of a Help to Buy in Essex, you have to be a first time buyer in Essex. Whether or not you will match up to the criteria entirely depends on the value of the property you are looking to buy and your personal financial situation.

 

Sub-letting or part exchange is not allowed and you cannot purchase a second home using a Help to Buy in Essex.

 

To read more information regarding the Help to Buy Schemes available to you, please visit Gov.uk

Why should you choose us as your mortgage broker in Essex?

As a mortgage broker in Essex that prides itself on providing a fast & friendly mortgage advice service, and has over 20 years of mortgage experience, we are always working hard to help our customers through a variety of mortgage scenarios, including when they are looking to use a Help to Buy in Essex.

 

Once you begin speaking with a trusted & dedicated mortgage advisor in Essex, you will be able to benefit from a continuous mortgage support system, from that first initial phone call, all the way until mortgage completion and potentially beyond that if you need us.

 

If your personal and financial circumstances, as well as the property you are looking to buy match up the criteria for you taking out a Help to Buy in Essex, our team are able to review the paperwork with you, even getting in touch with various external parties when we are required to.

 

Our services extend beyond the confines of standard mortgage advice in Essex. This means if you need help with something like surveyors, solicitors or advice on appropriate insurances, we are able to point you in the right direction or even discuss further options with you.

 

During your free mortgage appointment with a member of our expert mortgage advice team, your mortgage advisor in Essex will take a look at all the various figures with you to make sure that you know roughly what the different costs involved may be and what your monthly mortgage payments may also be.

 

As a well-known and hard working mortgage broker in Essex that is proud of its ability to provide a clear & simple service, we are here to help customers through every step of their mortgage process. Book your free mortgage appointment today and we will see how we can help.

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Common mortgage
questions

Your free initial mortgage consultation in Essex will last roughly around one hour. Your mortgage advisor will then recommend a mortgage for you with no obligation for you to proceed and you are then able to decide whether or not you wish to go ahead with the mortgage.

When utilising the Help-to-Buy scheme, you will need to have saved at least 5% of the sale price of your new build property in Essex. The Government will then be able to loan you up to 20% to the value of the property.

As your mortgage broker in Essex, we will need to carry out a Fact Find to establish what your needs are, prior to us recommending the most suitable mortgage for you and your circumstances. A credit check will be required for an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, you will be able to receive a formal mortgage offer.

To avoid the potential of having an offer rejected, we recommend you obtain an Agreement in Principle before viewing properties in Essex. We recommend that at the very latest, you should obtain one before you look at making an offer, as this can assist your bargaining position.

Your Agreement in Principle will usually last for between 30 and 90 days, depending on the lender that you go with. If it happens to expire, your mortgage broker in Essex can easily refresh this.

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.

If you have had previous credit problems, the good news is you can still get a mortgage, though you may possibly have to put down a higher deposit than those with good credit, often around 15% of the property purchase price.

Once you have put forward at least one year’s accounts, you will be able to get a mortgage. A vast amount of lenders will use your salary plus dividend to determine the maximum mortgage you are eligible for, whereas others may go off your net profit.

For an employee to prove their income, they’re usually required to provide three payslips, whilst for self-employed applicants they’ll need the latest 2 years’ accounts. You will also need to present the lender with proof of ID, address and the latest 3 months’ bank statements.

When you engage in a free mortgage consultation with one of our Mortgage Advisors in Essex, your discussion will take around one hour. Our team can usually produce an Agreement in Principle within 24 hours of your appointment and achieve a formal mortgage offer within three weeks.

We make it so easy!
Our 4 step process

Step 1

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

Step 2

Enjoy finding your dream home in Essex

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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Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

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www.financial-ombudsman.org.uk


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