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First Time Buyer Mortgage Advice in Solihull

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First Time Buyer Mortgage Advice in Solihull

Are you a first time buyer in Solihull? Discover your borrowing potential and move closer to securing your dream home. Start your mortgage journey with an expert today.

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Looking at Getting a First Time Buyer Mortgage in Solihull?

Are you looking to purchase your first home in Solihull? Our team is here to help you get the keys to your first property and take the stress away.

As a mortgage broker in Solihull , we have helped many first time buyers in the area to achieve their mortgage goals.

We don’t just find a mortgage that meets your individual circumstances, our mortgage advisors in Solihull are here to talk you through the entire process and answer any queries you may have.

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First Time Buyer Mortgage Advice in Solihull

We will be With you Throughout the Whole Process!

When applying for a mortgage, affordability is a major factor. Your lender will look at your annual salary and other income, alongside your outgoings. They will also look at your credit file to make sure you can manage your finances responsibly.

All these facts get taken into consideration to determine how much you can borrow for a mortgage. The amount you have saved for a deposit will also be taken into account.

At our mortgage broker in Solihull, we have a vast knowledge of lenders’ various criteria. With this knowledge, we can look at your income, expenditure, and credit history to search through 1000’s of deals to recommend the most suitable mortgage for your circumstances.

If you are a first time buyer in Solihull and would like to get a mortgage, our team is here to help. We will be with you every step of the way and make sure you get the best deal for your individual circumstances. Get in touch with us today and start your journey to owning your first home.

What will the costs be, and how much can I borrow?

For a lot of people who get in touch, especially first time buyers, part of the apprehension and uncertainty can be due to not knowing how much they can borrow and what their monthly payments will be.

Your devoted mortgage advisor in Solihull will be able to give you an approximate figure on this, giving you a clearer picture and fewer unanswered questions during your process.

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FAQ's From First Time Buyers in Solihull

Are there any schemes to help me get onto the property ladder in Solihull?

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The government has introduced various Schemes to help more first time buyers in Solihull get onto the property ladder, including the Lifetime ISA and the Right to Buy Scheme.

Our mortgage advisor in Solihull are familiar with all the current government schemes available and if you feel like one of these schemes will benefit you, get in touch with an expert mortgage advisor in Solihull today and receive a free mortgage consultation.

As an experienced and reliable mortgage broker in Solihull with over two decades of experience in the mortgage industry, providing specialist mortgage advice in Solihull, we have helped countless first time buyers in Solihull take their first steps onto the property ladder, calming their worries and striving to help them achieve their desired outcome with their first home.

Our mortgage advisors in Solihull have a wealth of knowledge and expertise in this sector. There are very few scenarios that we have not encountered.

You’ve seen a property you like – What’s the next step?

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Generally, after finding a property you like, the next step is to obtain an Agreement in Principle, also known as a Decision in Principle, DIP or AIP. Regardless of the name you hear it referred to, the purpose is the same.

An AIP means that you have passed the lender’s initial credit check and have been approved in principle for your mortgage.

It shows the seller of the property you’re interested in that you are in a position to move forward should they accept your offer, putting you ahead of other potential buyers and allowing for potential negotiation on price.

A member of our mortgage advice team can usually turn these around within 24 hours of your initial appointment.

Your offer has been accepted, and you’d like to proceed with a mortgage application?

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This is great news! Your next step will be to get back in touch with your mortgage broker in Solihull. They will be able to progress your mortgage application and take care of all the paperwork on your behalf.

We come across different scenarios and obstacles all the time, so your knowledgeable advisor is likely to have come across something similar before.

With this knowledge, they’ll work hard to ensure you hopefully end up with a positive outcome.

Mortgage advice from the bank was unsuccessful?

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Whether due to bad credit, no credit or something else, we often hear from first time buyers in Solihull who have been rejected by their bank.

Our team of mortgage and protection specialist advisors in Solihull will work hard, from early until late, to try and find a solution for any issues you come across.

Get in touch to book your free initial mortgage consultation.

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Our Simple Mortgage Process

Free 30-Minute Mortgage Appointment

Step 1

Having a conversation with a professional mortgage advisor in Solihull is essential to discuss your mortgage scenario.

Our dedicated mortgage advisor in Solihull will carefully analyse your income and expenses during a complimentary mortgage appointment. This evaluation will enable us to determine the maximum borrowing capacity available to you as a first-time buyer in Solihull.

Don't hesitate to reach out to us and schedule your consultation. We are eager to assist you in achieving your mortgage objectives.

We Can Search 1000s of Mortgage Deals

Step 2

We have a team of experts who can connect you with a wide selection of lenders offering specialised products designed specifically for first-time buyers in Solihull. This will assist you in embarking on your path to becoming a homeowner.

Following your consultation, we will swiftly obtain your mortgage agreement in principle (AIP), typically within 24 hours. An AIP serves as proof to sellers that you are dedicated to proceeding with the purchase, enhancing your credibility as a buyer.

Submit Your Mortgage Application

Step 3

After your offer on a property is accepted, our committed mortgage advisor in Solihull will handle the submission of your mortgage application and organize any additional documentation required by the lender.

Throughout the mortgage process, your dedicated case manager will provide regular updates, ensuring you are well-informed at every stage. We are here to support you throughout the journey of obtaining the keys to your new home.

Protecting You and Your Mortgage

Step 4

Alongside finding the most suitable mortgage deal for first time buyers in Solihull, our team is dedicated to assisting you in acquiring comprehensive insurance coverage to protect you and your loved ones financially.

Obtaining insurance while securing a mortgage offers a vital safety net in case of unexpected events like death, disability, or job loss. Insurance products that cover mortgage payments provide reassurance that in such circumstances, the borrower's family won't be burdened with the responsibility of paying off the mortgage.

Why Choose us

Free Mortgage Appointment

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Our team of fast, friendly & experienced mortgage advisors in Solihull are passionate about helping first time buyers find success in the property market in Solihull.

From the moment you pick up the phone to us, until the day you get the keys to your new home, your dedicated mortgage advice in Solihull will be with you every step of the way, ready to answer any questions you may have about your mortgage.

1000s of Deals

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Unlike the banks, we have access to a huge range of mortgage deals, and can find the one that best suits your individual needs, both financially and personally.

If you wish, we can also assist with putting in offers to estate agents, finding conveyancing solicitors and deciding which survey would be the most suitable.

Our Service

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Please read our genuine customer reviews, as they are a true reflection of the level of care and support we provide to all our customers. You may find that someone has been in a simialr situation to you and we have been able to help them.

7 days a Week

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Our mortgage advice team in Solihull are available seven days a week, with opening hours from 8am to 10pm. We are here to work around you, your family and your work and personal commitments.

Our goal is to take away the stress and manage all the paperwork for you. The fun part is finding the property you love, and that’s all down to you!

Malcolm and Amy Davidson - Mortgage Advice in Birmingham

We Search 1000s of First Time Buyer Mortgages in Solihull

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Common First Time Buyer Mortgage Scenarios

How much deposit do I need for a mortgage in Solihull?

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If you are looking to put down a deposit for a mortgage in Solihull, most lenders will require you to put down a minimum deposit of 5% based on the property value.

Depending on your credit score, you may be asked to provide a larger deposit of 10% to 15% of the property price. This may be due to mortgage lenders looking at your credit history, as they need to ensure that they are lending to a reliable borrower.

Typically, missed payments or unsecured debts are considered potential red flags for mortgage lenders.

Why use a mortgage broker in Solihull like us?

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As your mortgage broker in Solihull, our job is to guide you through the entire mortgage process, from start to finish. We will assist you in finding the most appropriate mortgage product that fits your financial and personal circumstances, help you complete your mortgage application, alleviate all the stress from the process, and most importantly, help you acquire the keys to your dream home.

Our team of experts have many years of experience in assisting various types of buyers. We specialise in a wide range of areas, including buy to let and self employed mortgages in Solihull, equity release, insurance and specialist scenarios.

Getting mortgage advice in Solihull is now easier than ever, as you can book your free mortgage appointment or schedule a callback with one of our mortgage advisors in Solihull online.

When should I get an Agreement in Principle in Solihull?

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An agreement in principle (AIP) is a document issued by a lender that confirms that they’re willing to lend to you. This is provided that you supply the necessary documentation to verify your income and affordability for a mortgage in Solihull.

Having an AIP is a crucial step in the mortgage process. It can be used to make an offer on a property and may assist in negotiating prices with the seller. In a scenario where two potential buyers are interested in a property, and one has an AIP while the other does not, the seller will usually select the buyer with an AIP, as they have already been pre-approved, making the process quicker.

AIPs are valid for 30-90 days and can be renewed easily once they expire. To obtain an AIP, you can speak with one of our mortgage advisors in Solihull. We are usually able to arrange one within 24 hours of you getting in touch.

How does my free mortgage appointment in Solihull work?

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During your free mortgage appointment, you’ll have the opportunity to discuss your mortgage options with a mortgage advisor in Solihull for approximately 30-60 minutes. Your mortgage advisor in Solihull will ask questions to better understand your mortgage situation and what you hope to accomplish. They will also gather your personal and financial background to determine the mortgage products that may be available to you.

After your appointment, your mortgage advisor in Solihull will conduct research to find a suitable mortgage product that fits your unique circumstances.

Can I get a second mortgage in Solihull?

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As a mortgage broker in Solihull, we have helped many applicants in securing a second or even multiple mortgages. There are many reasons why someone may want more than one mortgage, such as buy to let, let to buy, holiday let, and more.

It is important to know that obtaining another mortgage typically requires a substantial deposit, a good credit score, and the ability to cover another set of monthly repayments. If you’re taking out a let to buy or buy to let mortgage in Solihull, having a tenant will cover these costs.

Before applying for another mortgage, we’d recommend speaking with a mortgage advisor in Solihull to assess your eligibility. Our experienced team has been working in the mortgage industry for more than 20 years and would be more than happy to offer a helping hand.

I have bad credit in Solihull, can I get a mortgage?

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If you have bad credit, you still may be able to get a mortgage in Solihull. There are a number of lenders out there that specialise in these sorts of situations and offer products for buyers with bad credit.

If you have bad credit in Solihull and want a mortgage, you should know that you may be required to put down a larger deposit. Typically, lenders will ask for 10%-15%. If you need mortgage advice in Solihull and help on how to improve your credit score, our mortgage advisors in Solihull would be more than happy to point you in the right direction and give you some tips on where to start.

Free Mortgage Guides & Birminghammoneyman 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.

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