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First Time Buyer Mortgage Advice in Middlesbrough

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First Time Buyer Mortgage Advice in Middlesbrough

Discover your borrowing potential and move closer to securing your dream home as a first time buyer in Middlesbrough.

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Helping first time buyers in Middlesbrough.

Are you a first time buyer? If you are, we will be able to help you along your journey all the way to you getting the keys to your dream first home. First time buyers may feel a little overwhelmed and nervous by the home buying process and understandably so.

That being said, rest assured, our team is here to put your mind at ease and reduce your stress as much as we can. As an open & honest mortgage broker in Middlesbrough, we have had the pleasure of helping many first time buyers in Middlesbrough to achieve their mortgage goals. Our service goes beyond just finding you the best product.

Your dedicated mortgage advisor in Middlesbrough will be by your side all throughout the process, answering any questions or concerns you may have.

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First Time Buyer Mortgage Advice in Middlesbrough

Can I get a first time buyer mortgage in Middlesbrough?

If you are looking at buying your first ever home, but are unsure whether or not you would be eligible for a mortgage, then you would truly benefit from getting in touch with an expert mortgage advisor in Middlesbrough.

When you are ready to start your application for a mortgage, the mortgage lender will look at your affordability. They will review your annual salary and any other income you have, along with what comes out of your account.

They will also check your credit history and make sure that you are managing your finances, all to find out the maximum amount you may be able to borrow. Your deposit will also be a factor in determining which mortgage deals are available to you.

As a mortgage broker in Middlesbrough, we have an incredibly valuable and in-depth knowledge of the various mortgage lenders’ criteria. Using this knowledge that we have, we are then able to take a look at your income, expenditure, and credit history, in order to recommend the absolute best mortgage deal for your circumstances.

How much deposit do I need as a first time buyer in Middlesbrough?

Usually, mortgage lenders will require a minimum of 5% of the property price. Even though most high street lenders look for 5%, if you’ve had credit issues in the past, you may be asked to put down a larger deposit.

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Common FAQs From First Time Buyers in Middlesbrough

Are there any schemes to help first time buyers in Middlesbrough?

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Currently, there is a selection of very helpful government schemes that are designed to help first time buyers in Middlesbrough onto the property ladder. These include, but are not limited to, Lifetime ISA, Right to Buy and the Shared Ownership Scheme.

You can find more accurate information on these schemes by navigating to the guides section of our website or by visiting the government Own Your Home website.

Our team of fast & friendly mortgage advisors in Middlesbrough are familiar with all the various government schemes that are currently available and will be able to help answer all of your questions that you may have in regards to any of these.

What are the costs involved with first time buyer mortgages in Middlesbrough?

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On top of your deposit that you will need to have saved up, you will also have conveyancing and solicitors costs, property surveys, broker fees and mortgage arrangement fees.

You may also have stamp duty to think about, as well as any insurances (to protect either your home, contents or financial security) that you might want to take out.

Your dedicated mortgage advisor in Middlesbrough will be able to run through all the potential costs with you in more detail during your free initial first time buyer mortgage appointment.

What do I need to buy my first home in Middlesbrough?

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To be eligible to purchase your first home, you will first need to have saved up a decent sized deposit and be eligible to take out a first time buyer mortgage. You will also need to appoint a conveyancing solicitor to carry out the legal proceedings that come with purchasing a property.

As a first time buyer mortgage broker in Middlesbrough, we are here to help you, every step of the way. Our mortgage advisors in Middlesbrough can help checking your eligibility and obtaining you the most suitable first time buyer mortgage that’s right for your circumstances.

What type of first time buyer mortgages can I get in Middlesbrough?

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There are a variety of first time buyer mortgages in Middlesbrough that may be available, each varying in how they work. The most commonly encountered first time buyer mortgage is a fixed-rate mortgage, where you fix in your interest rates for a length of time, usually 2-5 years, to protect against interest rate rises.

There is also a tracker mortgage. If the Bank of England base rate goes up, so too does your interest rates. If the rate goes down, then it will do that also. Discounted variable rates are an option that could be cheaper, though if a lenders SVR changes, your interest rates will change.

Lastly, there’s an offset mortgage. This gives you an interest-free, flexible savings account to offset against the mortgage balance. The more in your savings, the less interest you pay on your mortgage.

To learn more about the different types of mortgages available to you and to find out which one is the most suitable, please book online and speak to a qualified mortgage advisor in Middlesbrough.

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Our Simple Mortgage Process

Free 30-Minute Mortgage Appointment

Step 1

Discuss your current situation and what you’re looking to achieve with an expert mortgage advisor in Middlesbrough.

During this appointment, your advisor will take information surrounding your income and expenditure to work out your affordability for a First Time Buyer Mortgage in Middlesbrough.

We Can Search 1000s of Mortgage Deals

Step 2

Our team will search through 1000’s of mortgage products to find the best deal for you!

We will then obtain your mortgage agreement in principle which can be a brilliant tool for backing up any offers you would like to make in Middlesbrough.

Submit Your Mortgage Application

Step 3

Once your offer has been accepted, your mortgage advisor in Middlesbrough will submit your full mortgage application and evidential documents to the lender.

During this process, your dedicated case manager will keep you updated every step of the way, right through, until you receive your formal mortgage offer and complete your purchase.

Protecting You and Your Mortgage

Step 4

Our service doesn't end here. As well as securing you the best mortgage deal, we will also recommend relevant insurances to keep you and your family protected.

We will also reach out to you when your mortgage is due for renewal to make sure that you are always on the best deal.

Reasons to Choose Us

Free Mortgage Appointment

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Your free initial mortgage appointment with your dedicated mortgage advisor in Middlesbrough 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.

Get in touch with us now to book your free mortgage appointment and we look forward to helping you with your mortgage dreams.

1000s of Deals

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We are able to search through thousands of first time buyer mortgages in Middlesbrough, in order to find you the most appropriate deal for your personal and financial circumstances.

It’s about more than just finding you the best mortgage. We will be there during the entire process, up until you get the keys and beyond, ready to answer any questions that you may have.

Our Service

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If you are worried that your situation is difficult, you can rest assured knowing that we have over 20 years of experience offering mortgage advice in Middlesbrough.

The likelihood of us coming across a situation we have never seen before, is very unlikely. As an open & honest mortgage broker in Middlesbrough, we aim to reduce as much stress as possible.

Your dedicated mortgage case manager will keep you informed every step of the way, making sure you always understand what is going on, with jargon at a minimum.

7 days a Week

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Our mortgage advisor in Middlesbrough will be working 7 days a week from early in the day until late, making sure that we are available at a time that suits your busy schedule.

All of our customers will benefit from receiving a free mortgage appointment, which will generally carried out over the phone or through a video call via Microsoft Teams.

Malcolm and Amy Davidson - Mortgage Advice in Middlesbrough

We Search 1000s of First Time Buyer Mortgages in Middlesbrough

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Common First Time Buyer Mortgage Scenarios

I'm viewing properties, how much can I borrow?

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Often we find that first time buyers in Middlesbrough who tend to be early in the process will just be wondering the maximum amount they could borrow. We do have mortgage calculators available to help you gather a rough estimate, though these figures aren’t guaranteed.

Our mortgage advisors in Middlesbrough will be able to take a look at your case and help you to work out a more accurate maximum loan amount.

I am ready to make an offer, how do I do it?

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If you have now found your ideal first home in Middlesbrough and would like to make an offer, but need the help of an expert to do so, then our mortgage advice team will be happy to help you out with this.

We can also look at getting you a mortgage agreement in principle (AIP), to increase your chances of being accepted.

My offer has been accepted, what is my next step?

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If you have since had an offer accepted on a property, we can then get started in helping you with your your full mortgage application. It is always best to speak with a mortgage broker in Middlesbrough prior to making an offer on a property.

I need an agreement in principle, can you help?

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Here at Middlesbroughmoneyman, we typically have the ability to obtain your mortgage agreement in principle within 24 hours of your appointment. If you’re lucky, you could be looking at same day.

As touched upon above, it is always recommended that you have an AIP before you start making any offers. This shows the seller of the property that you are looking to buy that you are serious and in a position to proceed with a mortgage.

I've been declined by my bank/building society, what are my options?

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If you have already gotten in touch previously with your bank for a mortgage, but they have declined you, there is every chance that we will still be able to help you out. There are a lot of reasons why perhaps you may have been declined by your bank during your mortgage application stage, but not all of them are final.

As an experienced and trusted mortgage broker in Middlesbrough, we work with various mortgage lenders, many of whom actually offer specialist mortgage products. We are able to review your individual circumstances and advise on the most appropriate path for you to take going forward.

If you are in the market for first time buyer mortgage advice in Middlesbrough , please feel free to get in touch or book your free mortgage appointment. We are here 7 days a week, from early until late and will be happy to answer all of your mortgage queries and concerns. We look forward to hearing from you soon.

Can a first time buyer in Middlesbrough invest in a buy to let property?

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Yes, a first time buyer can get a buy to let mortgage, though this will depend on the mortgage lender.

We tend to find, a mortgage lender will only offer buy to let mortgage deals to existing homeowners. Whilst not impossible, you would likely have an easier time applying for a buy to let mortgage if you already owned your own home, as it provides a track record of being able to keep up your monthly mortgage repayments.

Mortgage Guides & Middlesbroughmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at

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