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.Get Started
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.Apply Now
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.
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.
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.
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.
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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5.00 Rating8 Reviews
Moneyman has been a life changer for us. We would not be able to start on the property ladder if it weren't for Debbie and Matt. Matt has helped us through the stress of buying a house in this climate and they have both been nothing but supportive...
7 months ago
Excellent service! takes away a lot of the stress involved and if you're as clueless as I am these guys are a godsend.
1 year ago
Excellent service! Could not recommend Moneyman enough. Matt and Molly were always available to answer queries, constantly chased up on our progress and kept us informed of the process the whole way through. Thank you!
1 year ago
I cannot thank Tom and his team enough. Tom, Stacey, Kerry, and Kayleigh were so helpful in providing a service that was above and beyond what we expected. They were always happy to answer any questions (even when I asked a million). Even before...
2 years ago
I’ve got to say I’m over the moon after contacting Middlesboroughmoneyman, they assigned me my own mortgage Advisor called Nathan and him and Laura from his team walked me through every step of the way. Here i am 39 years old and 40 in a couple...
3 years ago
Kayleigh, Malcolm and the team made the whole process a very pleasant experience. I would highly recommend them to anyone looking for a mortgage broker who provided a great service with reassurance and advice along the way.
4 years ago
Responsive from the first point of contact (I received a call within minutes of making an online enquiry) I wouldn't hesitate to recommend these guys. You will deal with a few different people through the process but it works really well, they are...
4 years ago
fantastic service, would recommend to anyone looking for help with getting a mortgage. Both chris and mel have been excellent and have always been there at the end of the phone, text or email to answer our questions. thank you to both very much.
4 years ago
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.