If you are a new buyer and wanting to find out more information about the loans and offers available, speak to one of our advisors.
There are lots of new buyers who are struggling to put a deposit down on a house, this is where the government has stepping in the help fund mortgages.
If you are a first time buyer, a mortgage can be very difficult to understand. This is why we are here to support you and make the process easier.
The Help to Buy mortgage guarantee is for people who have been struggling to secure a deposit on their dream home or have not had enough deposit to purchase a house now because the government have released a new scheme it allows borrowers to secure mortgages on properties.
The government guarantees mortgage repayments to lenders, estate agents and brokers, allowing them to only ask for a minimum of 5% deposit which will be much more affordable than the 20% that recent mortgage providers have branded.
The government-guaranteed scheme means homebuyers can start looking for their dream home. Still, this property amount has to be a maximum value of 600k, the house needs to be within the UK, and the offer only applies to individuals owning a single property.
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Most mortgage lenders have praised this funding because it will hopefully allow the UK to boom again in the sales of houses throughout England, Ireland, Scotland and Wales.
The initial plan was for this to start from January 2014; however, this government scheme has been brought forward and is now available to homebuyers.
The house market prices will inevitably rise in value should the demand and mortgages be in full flow, so it could turn into a buyers market very soon.
Hence, if you are interested, please fill in our contact form, where we will get back to you with all the latest offers, rates, advice and advantages of this mortgage scheme.
The mortgage guarantee scheme is available to borrowers that are:
You cannot use the scheme for the following purposes:
The mortgage guarantee scheme was an initiative set up by the UK government to help first-time buyers purchase a home.
The scheme offers 95% mortgages, where the borrower only needs a 5% deposit.
There is a range of other government-backed schemes available to help new buyers get their first property, so it is important to explore every option.
The following lenders offer products through the mortgage guarantee scheme:
You can borrow up to £570,000 for a house or £275,000 for a flat.
Remember that you will still need to repay the mortgage loan, so you must ensure you keep up with your mortgage payments.
The accurate amount that a lender may offer you will depend on your financial background.
If you have a poor credit history, it may be harder for you to obtain a mortgage, as you will be seen as a risk to the lenders.
A government-funded housing loan was established for new buyers to purchase a home.
People were struggling to find enough money for a house deposit, but now the government guarantees to loan companies that they'll be paid.
Providers such as Natwest https://www.amazingmortgagedeals.co.uk/reviews/natwest/ have a range of deals to choose from.
If you'd like help with applying for a Help to Buy mortgage guarantee, we offer specialist advice to help you discover the most suitable answer for your requirements.
Our help is free to you, and our specialist team provide precise mortgage loan information personalised to fit your situation and desired mortgage payments.
Choosing the right plan is crucial, whether you are buying a new house or looking to remortgage your existing property.
Buying your first home is an exciting time, but with countless plans to make and questions to be resolved, it can also be a bit challenging.
This is why we, as first-time buyers experts, offer a committed plan agent who can evaluate how much you can borrow and what it will cost.
You can also receive professional guidance on other additional charges, including legal costs and building surveys that may be carried out.
Several options are available to help first-time buyers with getting a home loan, and our team will advise you on each of the different plans.
Shared equity lending options and many other deals may be used to help in looking for mortgages. Based on what's best for your needs, one of these choices may help you to buy the home of your dreams.
In 2013 the United Kingdom government began the affordable housing scheme, which allows individuals to have a down payment of just 5% to get a house.
The plans are becoming increasingly popular by helping more than ten thousand first-time buyers and home sellers.
Our team are pleased to talk you through everything you should know about the schemes. We'll also assist you through the scheme and purchase procedure.
An Equity Loan is available for new build properties with good value interest rates from some builders.
To participate in this scheme, you need a down payment at a minimum of 5%, as this entitles you to get a 20% UK government equity loan along with a loan of 75% through a lender.
Another portion of the affordable housing scheme is that home mortgages of 95% could be provided through this plan, with the government offering 15% of it.
Both new builds and current homes are offered at this planning stage.
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We offer mortgage advice to home movers regarding scheme rules, your credit rating, your mortgage application and 95 mortgages.
The mortgage guarantee scheme is not currently available for new build properties.
If you are looking for a scheme that will support buying a new home, you may want to consider the help-to-buy equity loan scheme.
The mortgage guarantee scheme started on 19 April 2021.
The mortgage guarantee scheme will end on 31 December 2022.
You can apply for the mortgage guarantee scheme with just a 5% deposit.
The low deposit makes the scheme beneficial for potential buyers who want to get on the property ladder, as they don't have to save as much money to be accepted for a mortgage loan.
One popular alternative to the mortgage guarantee scheme is the Help to Buy equity loan scheme.
Participating lenders will offer help-to-buy equity loans to first-time buyers looking to climb the housing ladder.
One of our expert advisors will be available to offer tailored guidance and deal with all aspects of finding and getting a home. They'll also handle lenders, solicitors and surveyors at each planning stage, ensuring it runs smoothly from beginning to end.
On top of that, we could also advise on 95% deals, which include government-funded housing, affordable housing and shared equity schemes which can help you purchase a far better property than you might have ever thought was possible.
Our goal is to make purchasing a house as easy and stress-free as possible for you. Feel free to contact our experts to obtain extra advice on the best mortgage loan options for yourself.
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