Help to Buy Mortgage Advice in Hull

Help to Buy Mortgage Advisor in Hull

Help to Buy in Hull

Getting onto the property ladder as a First-Time Buyer in Hull can be quite complicated as there are so many different mortgage routes you can go down. This is where a Mortgage Broker in Hull will come incredibly handy, they will talk you through all of your mortgage and your Help to Buy options.

You will find that there are lots of different Help to Buy schemes available for you out there. However, you can’t just pick and choose a scheme as you won’t qualify for every single one. Your best option is probably to let a Help to Buy Mortgage Advisor in Hull check everything for you and see if you qualify for any schemes first before you rush into applying. Help to Buy mostly affects people buying newly built properties and the schemes are more popular amongst First-Time Buyers.

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Help to Buy Mortgage Advice in Hull

Out of the Help to Buy schemes out there, the most popular one is the Help to Buy Equity Loan. It was introduced to help First-Time Buyers and Home-Movers in Hull buy a new home. No matter what property you are purchasing, the lender usually requires a minimum of a 5% deposit. Here are some facts about the Equity Loan Scheme:

  • You will need a minimum of a 5% deposit
  • Up to 20% of the property’s value is an equity loan from the Government
  • The rest is taken out as a Help to Buy Mortgage. I.e. 5% deposit, 20% equity loan, 75% mortgage

Here is an example from the official Help to Buy website of a home with a £200,000 price tag and how much the government would loan you:

Help to Buy: Equity Loan scheme Example

Help to Buy – Do you qualify?

Before we start the Help to Buy mortgage process with you, we need to check whether you qualify for any of the schemes available. If you want to know more about the schemes out there, all you need to do is contact one of our amazing Help to Buy Mortgage Advisors in Hull. For example, the Help to Buy Equity Loan is only available to newly built homes up to the value of £600k. Remember, you have to be either a First-Time Buyer or Moving Home in Hull. It relies on the property and you to meet the scheme’s criteria.

You must not own any other property at the time you buy your new home with a Help to Buy Equity Loan. Also, you need to remember subletting and part-exchange is not allowed.

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

We have been in the mortgage business for a very long time now. We can’t wait to share all of our experience and mortgage knowledge with you. A Mortgage Advisor in Hull at Hullmoneyman will sit down with you and discuss all of your Help to Buy options and recommend to you the best route to take based on your personal situation. Get in touch with your local Mortgage Broker in Hull today and receive a Free Initial Mortgage Consultation.

Help to Buy Schemes Available in Hull

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Mortgage Advice Hull Open & Honest Mortgage Advice in Hull & Hullmoneyman are trading styles of UK Moneyman Limited, which 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.

Hullmoneyman, 2 Littelfair Road, Hull, HU9 5LP.
01482 772986

The Financial Conduct Authority does not regulate most buy to let mortgages.

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