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Help to Buy Mortgage Advice in Sheffield

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Help to Buy Mortgage Advice in Sheffield
Across All Schemes

The term Help to Buy covers various schemes that are available, however, the one most common these days is the Help to Buy Equity Loan Scheme. The key to obtaining any mortgage, especially with a government scheme in play, is determining eligibility for said mortgage scheme and matching up to lender criteria.


This is the benefit of taking out mortgage advice in Sheffield, as they will be able to take on the latter and help you match up to the most appropriate mortgage lender. Help to Buy applies to first time buyers in Sheffield purchasing newly built properties.

Help to Buy Schemes

As touched upon earlier on, the most popular Help to Buy scheme and the most commonly occurring one, is the Help to Buy Equity Loan. This scheme is fantastic and it helps you buy a home with assistance from the government, though you will still need a 5% minimum deposit from either a gifted deposit or your own savings.


Here are some facts about the Help to Buy Equity Loan Scheme that you need to be aware of:


You will need a minimum of a 5% deposit


Up to 20% of the property’s value is an equity loan from the government


The rest is taken out as a Help to Buy Mortgage. I.e. 5% deposit, 20% equity loan, 75% mortgage


Help to Buy – Do you qualify?

A trusted and greatly experienced mortgage broker in Sheffield, like us, will be able to help you find out whether or not you qualify for any Help to Buy Schemes before you apply for one.


Our amazing advisors will recommend your best option based on your personal situation, matching you up to various different lenders criterias, seeing where you match-up and have the best chance of success whilst staying relatively close to what you were looking to do.


When utilising the government Help to Buy Equity Loan Scheme, it’s important to remember that you can only buy a newly built home up to the value of £600,000 and you will need to be a first time buyer in Sheffield. Your eligibility depends on the property in question and your eligibility for the mortgage scheme.


You cannot own any other property at the time you buy your new home when applying for the Help to Buy Equity Loan and you must also remember that subletting and part-exchange is strictly not allowed.


Help to Buy Shared Ownership

Another scheme we see alongside the aforementioned one is the Help to Buy Shared Ownership scheme. You’ll usually be able to buy between 25% and 75% of a home and pay the rest as a rental fee. In some cases and depending on the property, you may be able to purchase as little as 10%.


If you feel that you don’t quite have the ability to afford the mortgage on 100% of a home, Help to Buy: Shared Ownership offers you the chance to buy a share of your home (usually between 25% and 75% of the home’s value) and pay rent on the remaining share. Later on, you could put money into bigger shares when you are able to afford to do so.


As your expert mortgage broker in Sheffield, we are able to provide useful Help to Buy mortgage advice across all the different schemes available to applying first time home buyers. Find out more information about Help to Buy schemes available to you and the most common Help to Buy mortgage scenarios below in our commonly asked questions section.


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Help to Buy Mortgage Advice in Sheffield

We will always make sure that we are recommending the most appropriate option for your personal circumstances, doing our best to help you feel happy and secure through the entire Help to Buy process.


We know that mortgages can often become incredibly stressful from time to time, especially if it’s your first time and you aren’t quite sure what to expect.


This is where an expert mortgage broker in Sheffield comes in! Our team of dedicated mortgage advisors in Sheffield are here to provide help and guidance throughout your mortgage.


If you are a first time buyer struggling to take that initial leap onto the property ladder, you might find our Help to Buy mortgage advice service very beneficial to you!


Get in touch with a fast & friendly mortgage advisor in Sheffield and receive a free initial mortgage consultation.


Find out more information about the Help to Buy schemes available to you at https://www.ownyourhome.gov.uk/

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

As an experienced and dedicated mortgage broker in Sheffield with well over 20 years, we have worked alongside thousands of different and unique customers looking to take out a mortgage utilising the Help to Buy Scheme.


Our trusted mortgage advisors in Sheffield, will be able to offer you a free initial mortgage consultation, where they will discuss all of the Help to Buy options available to you and recommend the best potential route for you to take.


Our hard working and loyal mortgage advisors will do everything they can to ensure you feel secure and comfortable at all times during the Help to Buy mortgage process. We have only your best interests at heart!


We also offer a free mortgage consultation to every customer that reaches out to us for help. Please do get in touch with a Help to Buy mortgage advisor in Sheffield today and we will see what we can do to help you out!


Get in touch for a free mortgage consultation, speak to your expert Mortgage Advisor in Sheffield today.

What our customers say

Common mortgage

You will need to have at least 5% of the sale price of your new build property in Sheffield. The Government will then help you out by loaning you up to 20% to the property value.

Your free mortgage consultation with a Mortgage Advisor in Sheffield will last approximately an hour. Once they have evaluated your situation, they will recommend a mortgage for you with no obligation for you to proceed. Based on the deal, you can decide whether or not you want to continue the process with us or not.

As a trusted Mortgage Broker in Sheffield, we carry out a fact find to verify your needs before recommending you with a mortgage deal. After a Mortgage Advisor in Sheffield has evaluated your situation, they will perform a credit check on you, this is required for an agreement in principle. Then after you have provided all of the relevant documentation and a valuation of the property has been carried out, a formal mortgage offer can be issued.

We always advise that you obtain an agreement in principle before you start viewing properties in Sheffield, to avoid disappointment. If you want to get yourselves a head start, you should get one prior to making an offer.

Typically, an agreement in principle lasts for between 30 and 90 days, however, this can change depending on your lender in Sheffield. If your agreement in principle expires, you can renew it quite easily.

Yes, you can get a second mortgage. Whether this is for debt consolidation or home improvements, this is possible. It is also possible to take out a second mortgage on a second property but only if it is own use, the use of a family member, a holiday home or a Buy to Let.

It will be harder but yes you can. You will have to show that you can afford a mortgage by putting down a higher deposit, perhaps 10% or 15% of the purchase price.

Yes, however, you must submit at least one years’ accounts. Most lenders use your salary + dividend to calculate the maximum mortgage, whereas other lenders in Sheffield could base it of your net profit.

If you are an employee, you will need to provide three payslips to prove your income. If you are Self Employed in Sheffield, you will have to prove for the latest 2 years’ accounts. Along with this, you must produce proof of ID, address and 3 months’ bank statements.

Our free mortgage consultation in Sheffield will take about an hour. Once your consultation is completed, we can arrange an agreement in principle for you within 24 hours. A formal offer takes up to three weeks on average.

We make it so easy!
Our 4 step process

Step 1

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

Step 2

Enjoy finding your dream home in Sheffield

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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