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The Mortgage Guarantee Scheme in Sheffield is a government-backed initiative aimed at supporting buyers with smaller deposits, typically as low as 5%.
This scheme helps first time buyers and existing homeowners secure a mortgage, with the government providing a guarantee to lenders, making it easier for people to get on the property ladder.
For tailored mortgage advice in Sheffield, it’s best to speak to one of our mortgage advisor who can guide you through the scheme’s benefits.
Under the Mortgage Guarantee Scheme in Sheffield, the government ensures that lenders are protected for part of the mortgage, which reduces their risk.
This allows lenders to offer mortgages with a lower deposit requirement, typically 5%, while still providing competitive rates.
It is a useful option for buyers struggling to save for larger deposits. A mortgage broker in Sheffield like ourselves, can help you find the best deals available under this scheme.
To qualify for the Mortgage Guarantee Scheme in Sheffield, the property must be valued at £600,000 or less, and the buyer must be applying for a repayment mortgage, not an interest-only one.
It’s also essential to provide a deposit of at least 5%.
For more specific details and personalised guidance, speaking to a mortgage advisor in Sheffield will ensure you meet the criteria and get the most suitable mortgage deal.
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Sean
leo & stacey have been amazing helped us get a mortgage and put any worries or stress to ease highly recommend
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Christopher
Very good service from Malcolm and Paula. Malcolm explained the whole process to me (a first time buyer), and found a good mortgage product for me. Paula then handled my application through to it being approved. They kept me informed at all stages...
2 weeks ago
Eleni
Both Jason Loft and Debbie Stones have provided excellent service and were very informative and supportive through all the steps of the process. I would highly recommend them for anyone looking to buy a house but don’t know where to start. 10/10...
3 weeks ago
Delton
Really great service discuss everything possible. Second time of using them and will use them again.
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Rachel
Second time I have used Sheffield moneyman. They are a straightforward brokers, explain different options to you. Always keep you updated every step of the way. Would recommend this company.
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Julie
Absolutely amazing . Helped when others weren’t very helpful even with plenty of obstacles along the way. Their knowledge of everything was brilliant. Kept in touch all the way .Honestly can’t recommend them highly enough. Thank you so much...
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Millie
Excellent service every time!
2 months ago
Kashif
Great service from start to finish from Chris and his team. Looked after us and supported us through the whole process. They went above and beyond to get us the best deals and have been with us through every step in our journey. Can’t thank...
2 months ago
Mr Matthew
Wayne Dewsbury was very helpful from the first meeting. He managed to secure a mortgage at a lower rate than other brokers had offered. The support team were equally helpful in getting everything checked and submitted. Would definitely use UK...
3 months ago
Jake
Great service from initial enquiry through to offer
3 months ago
Jenny
Chris and the team have been absolutely brilliant at helping us understand the process of buying our first home and everything that comes with it! We never had to wait long for answers to any of our questions and felt in safe hands from start to...
3 months ago
Laura
We were first time buyers and have just completed on our house thanks to the brilliant help we received from Jason! We had a lot of questions and Jason was incredibly helpful and understanding, we really couldn't have got through this process...
3 months ago
Joseph
Great service from Tom and the team. Advised me on the best options for me and checked all the documents thoroughly before application to give me the best possible chance of approval. Would recommend.
3 months ago
Anonymous
Quickly got me a great offer.
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Jake
Matt was great with us through a long, drawn out process. Flexible hours and always on hand and helpful, despite us going for and losing out on multiple properties. Thoroughly recommend, we have saved money and time through his help.
4 months ago
Carlie
From start to finish, our case was handled impeccably well. Jason and Chloe have been fabulous and I'd absolutely recommend Sheffieldmoneyman to everyone I know. Great communication, quick turnaround and lovely people. We won't be going anywhere...
6 months ago
James
Charlie was brilliant, he kept us informed at every stage. He was even willing to step in and help out when our Estate Agents were applying pressure.
6 months ago
Sarah
We would highly recommend UK/Sheffield money man to anyone! Charlie couldn’t have been more helpful, and as first time buyers he put us at ease throughout the whole process, always going above and beyond for us!! Thanks so much Charlie
6 months ago
Dawn
I definitely recommend this service, they do all the work and so it's a seamless , stress free transition . They give you great advise and discuss all the options available giving you some peace of mind. They search for the best price and nothing...
7 months ago
Katharine
Jo, Kerry and Charlie have been brilliant. Very attentive, informative and able to work quickly and effectively when our situation chopped and changed. 10/10 would use again if needs be. Highly recommend.
8 months ago
Yes, the Mortgage Guarantee Scheme in Sheffield is available to first time buyers, helping those who may have a smaller deposit, typically around 5%, secure a mortgage.
This scheme is designed to make it easier for buyers to step onto the property ladder.
For expert advice, a mortgage broker in Sheffield can assist in finding the right lender and guiding you through the process.
No, the Mortgage Guarantee Scheme in Sheffield is only available for new home purchases and cannot be used for remortgaging an existing property.
If you’re looking to remortgage, it’s best to seek mortgage advice in Sheffield from an advisor who can help explore other options tailored to your needs.
The Mortgage Guarantee Scheme in Sheffield is only applicable to residential properties, meaning it cannot be used for buy to let investments.
If you’re considering a buy to let property, a mortgage advisor in Sheffield can guide you towards alternative options available for landlords.
The Mortgage Guarantee Scheme is currently set to run until June 2025, though extensions are possible depending on government policies.
To take advantage of this scheme before it ends, you may want to speak to a mortgage broker in Sheffield who can help you navigate your options and act quickly.
Only repayment mortgages are available under the Mortgage Guarantee Scheme in Sheffield, meaning you’ll need to repay both the interest and capital each month. Interest-only mortgages are not covered.
For more information on which lenders offer these types of mortgages, it’s a good idea to get mortgage advice in Sheffield from a trusted broker.
Yes, the Mortgage Guarantee Scheme in Sheffield can be used to purchase both new-build and existing properties, provided the property’s value is no more than £600,000.
A mortgage broker in Sheffield can help you explore suitable mortgage deals for either type of property.
Whether you're a first time buyer or looking at moving home in Sheffield, your advisor will explore the best mortgage options available for your needs.
With personalised advice, you'll have a clear understanding of the process, helping you make informed decisions.
Whether you're looking for a low-deposit mortgage under the Mortgage Guarantee Scheme in Sheffield or seeking flexible repayment options.
A mortgage broker in Sheffield will help you navigate the various offers available, making the process smoother and more efficient.
Once we've found you the perfect mortgage product, we will help you gather all the necessary documentation and submit a complete application to the mortgage lender.
From income checks to credit assessments, having a knowledgeable mortgage advisor by your side ensures that the application process runs smoothly and increases your chances of approval.
Completion is the final step in your home-buying journey, marking the official transfer of ownership to you, once the funds are released from your mortgage lender, the keys to your new home are yours.
A mortgage broker in Sheffield will guide you through this stage, ensuring everything is in place and that you are well-prepared for your move.
Our mortgage advisors in Sheffield will take the time to understand your unique situation, offering tailored recommendations to help you find the best mortgage option.
Whether you're buying your first home or looking to remortgage, we're here to guide you every step of the way.
Whether you're looking for competitive interest rates, flexible repayment terms or a mortgage under the Mortgage Guarantee Scheme in Sheffield, our mortgage advisors work hard to find the right deal for you, saving you time and stress.
Our mortgage advice service is built around your needs.
From your first enquiry through to completion, our dedicated mortgage advisors in Sheffield offer clear, jargon-free guidance.
We take pride in offering personalised support, helping you navigate the complex world of mortgages with ease and confidence.
We know life is busy, which is why our team is available 7 days a week to provide expert mortgage advice when it suits you.
Whether you need help with a mortgage application, have questions about the Mortgage Guarantee Scheme in Sheffield, or need assistance with remortgaging, our advisors are here to help, even on
Shared Ownership in Sheffield allows buyers to purchase a share of a property, typically between 25% and 75%, while paying rent on the remaining portion.
It’s an affordable option for those looking to get on the property ladder with a smaller deposit.
If you’re interested in this scheme, a mortgage advisor in Sheffield can help you explore your options and find the right mortgage to fit your circumstances.
Right to Buy in Sheffield gives eligible council tenants the opportunity to purchase their home at a discounted price.
This can be a great option for those looking to transition from renting to owning.
A mortgage broker in Sheffield can guide you through the mortgage application process, ensuring you get the best deal to help make your purchase a reality.
The First Homes scheme in Sheffield is designed to help first time buyers purchase new-build homes at a discounted rate, typically 30% to 50% below market value.
This scheme prioritises local buyers and key workers.
With tailored mortgage advice in Sheffield, you can find out how this scheme could benefit you and help secure your first home.
The Forces Help to Buy scheme in Sheffield is available to members of the armed forces, allowing them to borrow up to 50% of their annual salary, interest-free, to use as a deposit.
This scheme makes it easier for military personnel to secure their own home.
A mortgage advisor in Sheffield can assist you with navigating this scheme, helping you take the first steps towards homeownership.
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Sheffieldmoneyman.com & Sheffieldmoneyman 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 www.register.fca.org.uk
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Sheffieldmoneyman.com & Sheffieldmoneyman 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 www.register.fca.org.uk
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