Burger Menu

Help to Buy Mortgage Advice in Hull

Get a Free Help to Buy Consultation 7 Days a Week

01482 772986

Help to Buy Mortgage Advice in Hull Across All Schemes

The Help to Buy Scheme can help improve First Time Buyers in Hull getting onto the property ladder. As of now, depending on your eligibility, there are various routes to choose from.

 

This is where a Mortgage Broker in Hull will come incredibly handy, as it’s our job to talk you through all the different eligible schemes for your circumstances. You may find that there are 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 speaking with a qualified Mortgage Advisor in Hull who can check your eligibility for any schemes before you rush into applying for anything.

 

Help to Buy mostly affects people buying newly built properties, and the schemes are more aimed amongst First Time Buyers in Hull.

How does the Help to Buy Equity Loan Scheme work?

The Help to Buy Equity Loan Scheme has helped many First Time Buyers in Hull buy a house. It means buyers with a smaller deposit can improve their chance of securing a mortgage and getting onto the property ladder.

 

Below are a few basic facts about how the Help to Buy Scheme works:

 

– You will need a minimum of 5% deposit.

– Up to 20% of the property’s value will be treated as an equity loan from the Government.

– Getting a mortgage will cover the remaining balance.

How do you qualify for the Help to Buy Scheme?

Help to Buy Equity Loans apply to new-build properties up to a maximum value. This value depends on your region in England. Our Mortgage Advisors in Hull can check if you are eligible to whether or not you may qualify for this scheme.

 

Help to Buy Shared Ownership

The Help to Buy Shared Ownership Scheme lets you buy a share in a property. The percentage is usually between 25% and 75%. Although, in some circumstances, you may be allowed to purchase as little as 10%. You then will pay back the outstanding percentage through rent.

 

Here at Hullmoneyman, we provide open and honest Mortgage Advice in Hull, being aware of all the different schemes available we will try our best to match you to a scheme that fits your circumstances. Find more information about Help to Buy Schemes available to you and the most common Help to Buy mortgage scenarios further down this page.

 

How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

Mortgage Lenders 001
Mortgage Lenders 002
Mortgage Lenders 003
Mortgage Lenders 004
Mortgage Lenders 005
Mortgage Lenders 006

We’re Here to Give Our Customers Expert Help to Buy Mortgage Advice in Hull

We have a trusted team of Mortgage Advisors in Hull who will always work hard to make sure that they find you the absolute best mortgage deal for your financial and personal circumstances.

 

Your dedicated mortgage advisor will do everything they can to reduce your stress levels, keep you informed and ensure that, as a customer, you feel safe and secure all throughout your Help to Buy mortgage process.

 

The purpose of a Help to Buy Mortgage in Hull is help people who are looking to purchase a home with only a 5% deposit.

 

For the most part, Help to Buy Shared Ownership deposits won’t be as much as traditional home buying.

 

In utilising the Help to Buy Equity Loan, you’ll be given  up to 20% of the cost of your new build home as a loan from the government, which means you’ll only need to put down a 5% cash deposit, which comes in at 25% overall and will ensure that you leave with a 75% mortgage to pay back.

 

It is important to remember that you will need to pay this back, as it is only a loan from the government.

 

Book your free mortgage appointment online now to speak with a Mortgage Advisor in Hull.

 

Help to Buy – Do I Qualify?

Before we get your Help to Buy mortgage process underway, we will need to first figure out if you are eligible for the schemes that are available to home buyers in Hull.

 

If you are maybe hoping to understand in much deeper detail what the different schemes that you may have access to are, get yourself booked in for a free mortgage appointment today and speak to a Help to Buy Mortgage Advisors in Hull.

 

Differing from the other variations of the Help to Buy Scheme, the Help to Buy Equity Loan is only available in conjunction with new build homes, with the maximum amount changing depending on where your home is located.

 

Remember that in order to take advantage of the government Help to Buy Schemes, you have to be a First Time Buyer in Hull.

 

Matching up to the criteria will depend on the situation that you’re currently in and how much the property you’re looking to buy is worth.

 

You are prohibited from owning another property alongside the home that you buy with a Help to Buy: Equity Loan, as well as from subletting and doing a part-exchange.

 

To learn more about the Help to Buy Schemes that are available to you, take a look at the OwnYourHome website.

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

We have over 20 years of being an expert Mortgage Broker in Hull, providing our loyal customers open & honest Mortgage Advice in Hull. Throughout our time, we have worked with lots of customers who are looking to purchase a home, which has given us a lot of experience in different mortgage scenarios. Many of these have been utilising the Help to Buy Scheme.

 

By getting in touch with a dedicated and trusted Mortgage Advisor in Hull, you’ll have the total nonstop mortgage support of our team, from the time you call us up, all the way through until completion. Sometimes, by the time you get in touch with us, you may have already come across a home that is right for you.

 

If your current personal and financial situation, as well as your potential new home match the criteria for taking out a mortgage by using the Help to Buy Scheme, we will then be able to take a look at the paperwork with you and even help you to liaise with external parties if you need to.

 

We will work incredibly hard in order to help you achieve your home owning goals. If at any point you need any help with something like surveyors or solicitors, then we can also help to set you on the right path, having a good chat about what you may require in order to arrange these.

 

Whilst going through your free mortgage appointment, your dedicated Mortgage Advisor in Hull will spend some time taking a look through all of the different mortgage figures with you, helping you to figure out a rough estimate of what the costs involved may be, as well as what your monthly mortgage payments could be also.

 

In order to give you a better understanding about the level of service we provide, please feel free to take a look at genuine customer reviews left by our wonderful customers, who were thrilled with our service.

 

In doing so, you will see why so many new and returning home buyers book themselves in for a free mortgage appointment with one of our dedicated mortgage advisors, when they are looking to take out a mortgage by utilising the government’s Help to Buy Equity Loan Scheme.

 

As a well-known and highly respected Mortgage Broker in Hull that is incredibly proud of the clear & simple service that we provide for all customers, we are always on hand to guide our customers throughout each of the steps of their mortgage journey.

 

Get in touch with our team today so that you can get yourself booked in for a free mortgage appointment with a fast & friendly mortgage advice team in Hull today.

What our customers say

Common mortgage
questions

You’ll need to provide a deposit of at least 5% of the sale price of your new build in Hull. The government will top up your deposit by 20% to make up a 25% total deposit. This works the same way if you put down a higher deposit, e.g. if you put down a 10% deposit, you will receive a 15% equity loan.

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%.

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

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

Step 2

Enjoy finding your dream home in Hull

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.

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.

© 2022 Hullmoneyman

Hullmoneyman, 410 Wincolmlee, Hull, HU2 0QL.

Moneyman Logo







Moneyman Logo




Moneyman Logo

Ask Your Question





    Moneyman Logo

    Moneyman Logo







    Moneyman Logo

    Book your Free Consultation

    7 Days 8am - 10pm

    Moneyman Logo

    Moneyman Logo