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First Time Buyer Mortgage Advice in Hull

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First Time Buyer Mortgage Advisor in Hull

Welcome to our First Time Buyer mortgage advice page from your expert Mortgage Advisors in Hull. We have over ten years of valuable experience within the mortgage world and we can’t wait to help you find that perfect first home. If you are looking for First Time Buyer Mortgage Advice in Hull, you must know that you’re in safe hands with us.


Our aim is to guide you through the mortgage process to make it go as easy and smoothly as possible. You may be moving into your new property on your own, with a partner or a friend/relative or if your situation is more complex, we would still love to help as we have most likely dealt with something similar before.


Due to highly competitive market, First Time Buyers can feel under a lot of pressure to secure a property with an estate agent – as an experienced Mortgage Broker in Hull, this is where we step in and take some stress off your back. If required, we can also act fast on your behalf.


There are many different types of mortgages available on the market and sometimes the choice can be overwhelming.


Open & Honest Mortgage Advice in Hull

We consider all situations at Hullmoneyman, we will try to get over every hurdle to ensure you come out with a great mortgage deal that is best suited to your individual circumstances.


We also offer a Free Initial Mortgage Consultation for All Customers, you can choose how you want to receive this: email, call or text. You can even visit our contact us page here to discuss your mortgage options with one of our friendly advisors.


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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Common First Time Buyer Mortgage Scenarios

After working with thousands of First Time Buyers in Hull, we found that the same cases kept popping up that our customers needed our fantastic help with. As part of our free initial First Time Buyer mortgage consultation, we can look at a large variety of things, these can include:


  • Working out your monthly budget based on your property price
  • Producing a mortgage agreement in principle so that you can back up any offers you make with the estate agent
  • Completing your mortgage application through to getting you a mortgage offer
  • Explaining the different types of property surveys that are available to you
  • Recommending a local competitively priced solicitor with high service standards (if required)
  • Running through your mortgage offer(s) to ensure that all your details are correct
  • Also recommending any associated insurances with your new mortgage (if required)


Have you Run into any Mortgage Hurdles so far?

We often find that clients who call us had some difficulty one way or another with their bank during the mortgage process, this could be due to multiple reasons:

  • Type of property being purchased
  • Your income structure and employment type i.e. self-employed
  • Buying off or with a family member
  • Buying undervalue
  • Bank declined or won’t lend enough
  • Buying off your landlord
  • Something else?


If this happens to be the case, it is important that you don’t keep trying loads of different lenders without being 100% sure of their strict lending criteria. This could have a negative impact on your credit score and may lower your chances of getting a mortgage altogether.

We Work Solely For You

Unlike other mortgage brokers, we are not tied to estate agents, so we work solely for you, with your interests at heart. We aim to deliver that best service as your Mortgage Advisor in Hull work with you and your needs to ensure you come out with the best deal that we can find you.


How Much Deposit Will You Need?

Usually, you will need a minimum of 5% deposit for a purchase. If you are lucky, you could receive a gifted deposit from a family member or friend, this is very common for First Time Buyers and you can read more about gifted deposits here.


We are fortunate in Hull, as we still have affordable housing in reputable areas available to First Time Buyers, so they can take that first step onto the property ladder for a reasonable price. For example, a 5% or 10% deposit is much more achievable in Hull than a bigger city or a similar-sized city down south.


Currently Renting?

Often, getting a mortgage can work out to be cheaper than renting. Have you considered buying off your landlord? This can be relatively simple with an expert Mortgage Broker in Hull like us if you can get a price agreed.


Are you Looking to Buy Your Council House?

We can help you with this, we offer amazing support when you need Right to Buy Mortgage Advice in Hull. We can also help with your purchase and provide help and guidance throughout the whole application process!


Are you a First Time Buyer in Hull?

As an expert Mortgage Broker in Hull carrying years of valued experience within a local mortgage environment, we aim to deliver that stunning service with every customer. With the use of our in-depth mortgage knowledge, we can try our best to place your mortgage application to the most suitable mortgage lender based on your personal situation.


Contact us to book your free mortgage consultation.

What our customers say

Common mortgage

Our free initial mortgage consultation will last roughly one hour. Lucky for you, as an experienced Mortgage Broker in Hull, we can turn around an Agreement in Principle within 24 hours. All we need is a quick phone call to gather the necessary information. A formal mortgage offer takes about three to four weeks on average.

If you’re an employee, you will usually have to supply three payslips and the latest P60 to prove your income. If you are Self Employed in Leeds, it is typically the latest two years’ tax calculations and correspondings overviews. You will also need to provide proof of ID (Driving license or Passport). Proof of Address (Utility bills, tax bills or credit card statements) and three months’ bank statement. You are proving the deposit built up with an explanation for any significant credits.

The good news is it may be possible to get a mortgage if you are self-employed in Hull. To qualify, you need to submit at least one year’s of accounts, the likelihood may increase your chance of obtaining a mortgage. Most lenders take a look at your salary plus dividend to calculate the maximum mortgage amount. Others may go off your net profit. It all depends on the lender.

The good news is that you may find it a bit more challenging to obtain a mortgage despite having previous credit issues on your record. But it doesn’t mean it’s impossible, and you may still be able to get one! It just means that some Lenders may ask for a slightly higher deposit of around 10-15%.

Most high street mortgage lenders will usually ask for a minimum of a 5% deposit. This percentage may be higher depending on your previous circumstances, e.g. if you’ve had any past credit issues.

The good news is it is possible to have two mortgages in Hull running simultaneously, as long as you can afford to repay the monthly instalments on each of them. If you’re looking to accomplish something like debt consolidation or home improvements, you may be able to place a second mortgage on your home.

An Agreement in Principle typically lasts for 30-90 days. However, this timeframe is up to the Lender. If your Agreement in Principle expires, worry not; you can renew it by getting back in touch with your Mortgage Advisor in Hull.

As a Mortgage Broker in Hull, we recommend that you obtain an Agreement in Principle (AIP) as soon as you can, preferably before you start viewing properties. Having an Agreement in Principle in place when you are viewing houses could potentially allow you to negotiate prices.

Our mortgage process consists of multiple different steps. The first step is to get in touch, and one of our trusted mortgage advisors in Hull will carry out a Fact Find to get a bigger picture of your mortgage situation.

Secondly, you’ll undergo your free mortgage consultation, and your assigned dedicated Mortgage Advisor in Hull will begin searching for mortgage deals that match your circumstances. If they find you an offer that you are happy to proceed with, we can get the ball rolling with your mortgage application.

Next, they will perform a credit check on you to obtain an agreement in principle. Some evidential documents will be required from you to help back up your mortgage application.

Lastly, they will submit your mortgage application and wait for a formal mortgage offer to be issued.

Your free initial mortgage consultation with your dedicated Mortgage Advisor in Hull will last around an hour. During this consultation, we will get to learn a bit more about your mortgage needs and what you are looking for. Once we know more about your personal and financial situation, we will start looking for mortgage deals that will match you perfectly.



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.

Handy quick links

Hullmoneyman.com & Hullmoneyman 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.

© 2021 Hullmoneyman

Hullmoneyman, 410 Wincolmlee, Hull, HU2 0QL.

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