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Help to Buy Mortgage Advice in Doncaster

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Help to Buy Mortgage Advice in Doncaster Across All Schemes

The Help to Buy Scheme is always a mortgage option that is incredibly popular amongst first time buyers, but also can often have its own set of challenges.

 

By having a hard working and experienced mortgage advisor in Doncaster on your side, you’ll find that we try to work through as many hurdles as possible, doing everything we can to give our customers an easier, stress-free process.

 

A member of our team will be here to guide you through every step of your entire mortgage journey, always keeping you informed with updates or changes to your case and anything else you need to be aware of.

 

We will always be ready and waiting to help you out our customers with their needs, always looking to give people a better understanding of the Help to Buy Scheme as we go.

 

We put our customers first and will always have their best interests at heart, supporting them in any way that we can.

 

Having Doncastermoneyman working on your mortgage for you is incredibly beneficial when you are finding it challenging and need a guiding hand through your mortgage process.

How does the Help to Buy Equity Loan Scheme work?

The Help to Buy Equity Loan Scheme was set up as a means of helping out first-time buyers. In previous years, this scheme was available to existing homeowners looking to move home, though back during April 2021 the scheme was remodelled and now is only available to first time buyers.

 

Here are a couple of different important facts you should know about the Help to Buy Scheme:

 

– You will be required to have at least 5% deposit.

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

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

How do you qualify for the Help to Buy Scheme?

We will take a look at your situation and advise as to whether or not you have the eligibility to qualify for a Help to Buy Scheme, something included with our personalised mortgage advice in Doncaster.

 

Help to Buy Equity Loans will only apply to to new-build properties purchased by first time buyers in Doncaster, with a maximum mortgage amount that will vary depending on the area that you are purchasing your home in.

 

To find out more information on this and the figures per area, please take a look at the government Own Your Home website.

 

It is crucial to remember than under no circumstances can buy a second home with the help of this scheme. You are also prohibited from any part-exchange or sub-letting deals on your property.

 

Help to Buy Shared Ownership

In utilising the Help to Buy Shared Ownership scheme, you are able to purchase a share in a property.

 

We find that for the most part, the percentage that people buy into their property is around 25% to 75%, though on some specific occasions you may find yourself being able to purchase as small as 10% of the property. The remaining percentage will be paid back as a monthly rental fee.

 

If you don’t quite have the ability to afford the mortgage on 100% of a home, the government Help to Buy Shared Ownership Scheme offers home buyers the opportunity to only purchase some of it up front, potentially buying bigger shares down the line when they are able to afford doing so.

 

As a trusted and respected mortgage broker in Doncaster, we have an extensive knowledge of all the Help to Buy Schemes and can use this to help customers in a variety of situations.

 

How does it work?Get a quote nowMeet your advisor

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

Our team of dedicated and honest mortgage advisors in Doncaster will always make sure that they recommend to you the best available option for your financial and personal circumstances.

 

It is their aim to take your stress away, keep you informed and ensure you feel secure throughout your entire Help to Buy mortgage journey.

 

A Help to Buy mortgage in Doncaster is designed to help home buyers to purchase their home with only a 5% deposit.

 

Generally speaking, Help to Buy Shared Ownership deposits will be lower than traditional home buying.

 

With a Help to Buy Equity Loan, you’ll receive a loan from the government of up to 20% of the cost of your newly built home, meaning you’ll only need to put forward a 5% cash deposit, totalling at 25% overall and leaving you with a 75% mortgage to pay back.

 

Please remember that the government loan is just that, and you will need to pay it back.

 

Get in touch with a mortgage advisor in Doncaster and receive a free mortgage appointment.

 

Help to Buy – Do I Qualify?

Before we get started with the process of obtaining you a Help to Buy mortgage, we will need to determine whether or not you are eligible for the schemes that are available to home buyers in Doncaster.

 

If you are looking to gain a deeper understanding of the different schemes that you may be able to use, contact us today and get yourself booked in for a free initial mortgage appointment with one of our experienced Help to Buy mortgage advisors in Doncaster.

 

To take a look at an example of how these mortgage schemes are different to one another, the Help to Buy Equity Loan is only available when it is used to take out a mortgage on newly built homes, with the maximum amount being different depending on your home location.

 

Remember, to take advantage of the Help to Buy Schemes, you must only be a first time buyer in Doncaster.

 

Matching up to the criteria will be dependant on your current personal situation and the value of the home you are looking to buy.

 

You cannot own another property alongside a new property that you wish to purchase with a Help to Buy Equity Loan.

 

You should also remember that subletting and part-exchange is something that is strictly forbidden.

 

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 Doncaster?

As a mortgage broker in Doncaster with over 20 years of giving our loyal customers open & honest mortgage advice in Doncaster, we have worked with a lot of different customers looking to achieve their home buying goals, gaining a lot of experience in various mortgage scenarios.

 

Through our years of mortgage industry service, we have worked with a lot of customers who are looking to utilise the Help to Buy scheme.

 

Once you start speaking to a dedicated mortgage advisor in Doncaster, you’ll have a continuous mortgage support system, from your first point of contact, all the way until your mortgage completes.

 

When you get in touch you may have already found a new home that you are wanting to buy.

 

If your circumstances and the property in question matches the criteria for taking out a mortgage under the Help to Buy Scheme, our team would be able to go through the paperwork with you and even liaising with external parties when required.

 

Not only will we work hard to help you achieve your mortgage goals, but if you require assistance with something like surveyors or solicitors, we are also able to point you in the right direction, having open discussions about what you may need for this.

 

During your initial free mortgage appointment, the mortgage advisor in Doncaster you are assigned will make time to have a look through all of the mortgage figures with you, giving you a rough estimate of what the costs and your monthly mortgage payments may be.

 

To learn more about the level of service we provide, please have a look at our wonderful and genuine customer reviews.

 

You’ll come to see why so many home buyers get in touch with us when looking to take out a mortgage using the government’s Help to Buy Equity Loan Scheme.

 

As a reputable and knowledgeable mortgage broker in Doncaster that prides itself on a clear & simple service, we are here to guide our customers through every step of their mortgage experience.

 

Contact our team and get yourself booked in for a free mortgage appointment with a dedicated advisor today.

What our customers say

Common mortgage
questions

You will typically be required to have at least 5% of the sale price of your new build property in Doncaster as a deposit. The Government will then loan you up to 20% to the properties value as an additional amount, bringing your deposit up to 25% and potentially lowering monthly repayments. It’s important to remember though, that this is in fact a loan and will need to be paid back.

Your free initial mortgage consultation in Doncaster will last roughly one hour. We will then be on our way to recommending a mortgage for you, where you have no obligation for you to proceed. If you’d rather not take it and step back for a time, you have every right to do so.

Your mortgage advisor in Doncaster will carry out a Fact Find to establish your personal mortgage needs, before recommending the most suitable mortgage for your situation. A credit check will then be required in order for you to obtain an Agreement in Principle, which we are able to help with. Once you have provided the lener with all the relevant documentation, and you have had a valuation of the property completed, a formal mortgage offer can then be issued.

To avoid finding yourself disappointed when viewing and making offers on properties, we recommend you obtain an Agreement in Principle ahead of time. At the very latest, we recommend that you obtain one prior to making an offer, as this will assist your bargaining position.

An Agreement in Principle will usually last for between 30 and 90 days depending on the Lender that you are with. If your Agreement in Principle expires, you can easily have it refreshed.

You may have the option of taking out a second mortgage on your home for things like debt consolidation or any potential Home Improvements. It may also be possible to take out a mortgage on a second property to use on yourself, for a family member, a holiday home or even a Buy to Let.

If you’ve had credit problems previously, you may still have a chance at getting a mortgage, but you may possibly be required to put down a higher deposit than for the property than you might have if you had with good credit. This can often be 15% of the property purchase price.

You are able to get a mortgage, once you have submitted at least one year’s accounts. The majority of Lenders use your salary plus dividend to calculate the maximum mortgage amount you can borrow, whereas others will go off your net profit.

You’ll generally be required to send three payslips if you are a standard employee to prove income and the latest 2 years’ accounts for self-employed. You will also need to produce proof of ID, proof of address and the previous 3 months’ bank statements.

The free mortgage consultation that you receive when getting in touch, will typically last up to an hour. We can help you obtain an agreement in principle within 24 hours of this consultation, with a formal mortgage offer taking on average about three weeks.

We make it so easy!
Our 4 step process

Step 1

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

Step 2

Enjoy finding your dream home in Doncaster

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

Doncastermoneyman.com & Doncastermoneyman 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 Doncastermoneyman

Doncastermoneyman, 3 Cavendish Court, South Parade, Doncaster, DN1 2DJ.

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