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Help to Buy Mortgage Advice in Harrogate

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Help to Buy Mortgage Advice in Harrogate
Across All Schemes

The Help to Buy scheme is a very attractive one but can be incredibly complex. When we work with you, we use our experience to help and try to make sure that there are no unpleasant surprises and that it is not at all intimidating.

 

We will assist you during the whole process, ensuring that you know what is going to happen and when. Always at the end of the phone when you need us, if you need advice or a deeper understanding of the Help to Buy scheme, we are here to support you.

 

Having Harrogatemoneyman working on your behalf is incredibly beneficial when you need a Mortgage Broker in Harrogate to support you.

How does the Help to Buy Equity Loan Scheme work?

This is a scheme that has been set up to help not only first-time buyers but homeowners too. Here are a few key facts about the scheme:

 

You will require a minimum of 5% deposit

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

The balance will be covered by a special Help to Buy mortgage.

How do you qualify for the Help to Buy scheme?

We will advise you as to whether or not you can qualify for this scheme. It’s all part of our tailor-made service.  Help to Buy Equity loans apply to new-build properties up to a maximum value of £600k. It’s worth mentioning that you’ll have to be a First Time Buyer in Harrogate to be eligible.

 

Part of the terms and conditions specify that you should not own any other property i.e. you cannot buy a second home with the help of this scheme. Part-exchange and sub-letting is also not allowed.

 

Help to Buy Shared Ownership

With the Help to Buy Shared Ownership scheme, generally speaking you are able to buy as little as 25% or as much as 75% of a home and pay rent on the rest.  If you can’t quite afford the mortgage on 100% of a home, Help to Buy: Shared Ownership offers you the chance to buy a share of your home (again, generally between 25% and 75% of the home’s value) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to.

 

As your expert Mortgage Broker in Harrogate, we are able to provide Help to Buy Mortgage Advice across all schemes. Find out more information about Help to Buy schemes available to you and the most common Help to Buy mortgage scenarios below.

 

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Your Mortgage Broker in Harrogate is here to provide you with expert Help to Buy Mortgage Advice.

 

We will always recommend the best option for your individual circumstances and make sure that you feel happy and secure through the whole Help to Buy process.

 

Here are some of the most common Help to Buy mortgage situations that we come across:

  • This makes it possible to buy a home with just a 5% deposit whilst Help to Buy Shared Ownership deposits are typically much lower than buying traditionally.
  • With a Help to Buy: Equity Loan, the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

 

Get in touch with a Mortgage Advisor in Harrogate and receive a free mortgage consultation.

 

Find out more information about the Help to Buy schemes available to you at Gov.uk

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

 

As a Mortgage Broker in Harrogate, we assist clients with all types of mortgages, including those under the Help to Buy scheme. Once you make contact with us, we will walk you through the whole process, from start to finish.

 

If you have already found a new home that you want to buy that falls within the remit of the Help to Buy scheme, we will go through the paperwork with you and even liaise with the home builder or estate agent on your behalf.

 

Not only will we deal with your mortgage but we can also help if you need advice with regard to surveyors or solicitors.

 

As part of your initial free mortgage consultation, we will go through all of the figures with you so that you know exactly how much you will be paying each month.

 

Check out our feedback at Reviews.co.uk and see why so many people choose us when looking for a buy to let mortgage.

 

As your Mortgage Advisor in Harrogate, we are here to help you. Get in touch with us today and make a date for your free mortgage consultation.

What our customers say

Common mortgage
questions

You will need to have saved at least 5% of the sale price of your new build property in Harrogate for your deposit when opting for a help to buy. The Government will then loan you an additional amount up to 20% to the properties value.

Your free mortgage consultation with a Mortgage Advisor in Harrogate will last for approximately one hour. They will then recommend a mortgage for you, one that you have no obligation for you to accept if you do not wish to. Proceeding with the mortgage is completely your choice.

As a part of our service as a fast and friendly Mortgage Broker in Harrogate, we carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for you and your personal circumstances. A credit check will then required ahead of obtaining an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been taken out, a formal mortgage offer can then be issued to you.

To avoid being disappointed part way into your process if you don’t get the property you had eyes on, we recommend you obtain an Agreement in Principle ahead of schedule, before you begin viewing properties in Harrogate. At the very latest you should obtain one prior to making any offers to a vendor, as this can aid with your bargaining position.

An Agreement in Principle will generally have a shelf life of between 30 and 90 days, depending on the lender used. If your Agreement in Principle expires, get back in touch with your mortgage advisor and they can get this refreshed for you.

If you are looking to do something like debt consolidation or any potential home improvements, you may have the option of taking out a second mortgage in Harrogate. It may also be possible to take out a mortgage on a second property for other uses, such as for yourself, a family member, a holiday home or a Buy to Let.

If you have had any kind of credit problems previously, there is a chance you can still get a mortgage. Unfortunately for this, you may possibly be required to put down a higher deposit than usual, typically 15% of the property purchase price.

Once you have submitted at least one year’s accounts to the lender, you may then be able to obtain a mortgage on the property you wish to buy. Most lenders will use a combination of your salary plus dividend to calculate the maximum mortgage, whereas others may go off your net profit.

An employee will generally be required to submit at least three payslips for an employee to prove income and the latest 2 years’ accounts if they are Self Employed. You will also need to provide your mortgage lender with proof of ID, address and the last 3 months’ bank statements.

Our free mortgage consultation offered to all customers will typically last somewhere near an hour or so. The members of our dedicated mortgage advice team are able to turn round an agreement in principle within 24 hours, with a formal mortgage offer taking roughly about three weeks on average.

We make it so easy!
Our 4 step process

Step 1

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

Step 2

Enjoy finding your dream home in Harrogate

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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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 Harrogatemoneyman

Harrogatemoneyman – Workhub Harrogate, C/O Umbrella Property Group, 12 Station Parade, Harrogate, HG1 1UE.

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