Good news, thanks to the Help to Buy Schemes, First Time Buyers in Birmingham have higher odds of getting onto the property ladder. As of now, depending on eligibility, there are more routes to choose from, although you won’t fit into every Help to Buy criteria.
It’s our Mortgage Advisors in Birmingham job to inform you about all the different schemes you are eligible for; you may find that other Help to Buy Schemes are available for you out there.
As we said, you can’t just choose a scheme that you like, as you might not be qualified for them all. However, as a Mortgage Broker in Birmingham, we have helped customers check their eligibility before hastening into applying for anything.
The Help to Buy Equity Loan Scheme is popular with First Time Buyers in Birmingham looking to get onto the property ladder. However, as of 2021, this scheme is no longer available to existing home owners looking to move home.
Below are a few basic facts on how a Help to Buy in Birmingham works:
– You will need a minimum of 5% deposit.
– Up to 20% of the property’s value will be treated as an equity loan from the Government.
– The remaining balance will be covered by a mortgage.
Help to Buy Equity Loans only apply to new-build properties up to a maximum value. This value depends on your region in England. Our Mortgage Advisors in Birmingham can check your eligibility to whether or not you are eligible to qualify for this particular Scheme.
The Help to Buy Shared Ownership Scheme is where you buy a share in a property. The percentage varies between 25% and 75%. However, in some circumstances, you may be allowed to purchase as little as 10%. You then will pay back the outstanding percentage through rent.
Our expert and knowledgeable Mortgage Advisors in Birmingham can help provide Help to Buy Mortgage Advice across all schemes. More information about the other Help to Buy Schemes available to you and the most common Help to Buy mortgage scenarios is located further down this page.
As a fast and friendly Mortgage Broker in Birmingham, we aim to recommend the most beneficial available option for your financial and individual circumstances. We try everything we can to make sure your Help to Buy in Birmingham goes stress-free and kept informed during the entire process.
Thanks to the Help to Buy Scheme, it makes it possible for those eligible to buy a home with just a 5% deposit, whilst Help to Buy Shared Ownership deposits are typically much lower than buying traditionally.
With a Help to Buy: Equity Loan, the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.
Get in touch with a Mortgage Advisor in Birmingham and receive a free mortgage appointment today.
Before we begin finding you a suitable mortgage, we need to look at whether or not you qualify for any of the available schemes.
For more information on the different schemes available, get in touch to speak with one of our expert Mortgage Advisors in Birmingham today.
If we take a look at an example of how the schemes may potentially differ, the Help to Buy Equity Loan is only available when used for newly built homes by a registered builder.
As we said, you must also only be a First Time Buyer in Birmingham, and you must not own any other property when looking to purchase your new home in conjunction with a Help to Buy in Birmingham. Again, remember that subletting and part-exchange is something that is not allowed.
Find out more information about the Help to Buy Schemes available to you. Check out the Government ownyourhome website.
As an experienced Mortgage Broker in Birmingham with over 20 years of industry experience, we have worked alongside many unique customers looking to take out a mortgage utilising a Help to Buy in Birmingham.
Our trusted Mortgage Advisors in Birmingham 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 most suitable route for you to take.
Our team will do everything they can to make sure you feel secure and comfortable during the entire mortgage process. We have only your best interests at heart and aim to provide you with expert Mortgage Advice in Birmingham.
Why not contact us today and book yourself for a free mortgage appointment to speak to one of our dedicated team of Mortgage Advisors in Birmingham, who will guide you throughout every step of your mortgage journey.
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Tyler
Had great help from both Joe and Chris and Chloe who were all friendly and always happy to help
Rosie
Made everything very easy, we are first time buyers and they couldn't have been more helpful or informative. They didn't make us feel like we were stupid for not know anything about buying a house and talked us through the entire process....
Sophie
Tom and Meghan were brilliant throughout the entire process! Both were friendly and knowledgeable and explained everything to us clearly and answered our countless questions and gave us clarification where we needed it. Both were easy to contact and...
Esme
Super helpful, made the whole process really easy and explained everything as we went along. Pretty good at keeping in contact, keeping us up to date and explaining the choices we had and then giving us the time to discuss and make those decisions.
Sheikh
I must say I am very pleased with the service I recieved from Moneyman, they set up regular calls and kept us updated throughout the checking progress. Fairly priced fees and very knowledgeable! I would highly recommend their services
Abdassami
Second time with this broker and it's been an amazing experience. Would definitely recommend. Anna and Matt were brilliant.
Nicholas
We couldn't be happier with the service provided. Matt has been professional, helpful and extremely supportive throughout our process. We will certainly be recommending you to friends. Communication was 5* and Matt was available at any point...
Asia
Great team - very good communication and very nice, helpful team that made it possible for me! Thank you for the great service.
Andrew
To say we have had a nightmare of a process of trying to buy a house would be an understatement, however Wayne and team were the bright light that helped us get through it. Can't thank them enough for their help.
Kazim
That nice 😊
Kristina
Brilliant service! Would highly recommend! Tom at the Birmingham branch was amazing. We're first time buyers so we were very unsure of the whole process and had lots of questions. Tom gave us all the support and guidance we needed and was there...
Anonymous
Moneyman were really supportive during this process. After our first house fell through following downvaluation, they were really helpful in outlining the process moving forward and supporting us through the next house sale. Couldn't be happier...
Eleanor
Thank you so much for your support Even when I Couldn't get hold of anyone else During the pandemic Your staff were there to encourage me to press on with the mortgage after Thanks for your help and the guidance Thanks for giving me a chance...
Anonymous
Very good service, unbelievable fast to apply my mortgage. Thank you all of you.
Tyler
Aaron was both very friendly and helpful over the phone.
Samina
Dale was a Very lovely person to speak to. Gave all the best advise he can and was very polite. Made me reassured with a few problems I may have but gave me a few options around getting a mortgage
Anonymous
They found the best deal to suit us and was quick and efficient with outstanding communication. Would definitely recommend!
Adrian
Excellent service from start to finish. Very thorough and helpful - no question is a stupid question. Good communication - always kept informed. As first time buyers the process was made a lot less stressful thanks to Malcolm and his team....
Joshua
Absolutely amazing service, they are so responsive and Chloe and Charlie saved our house purchase after a previous broker made error after error. Can’t recommend them highly enough and they are worth every single penny and then some. Will be...
Joshua
Absolutely amazing service, they are so responsive and Chloe and Charlie saved our house purchase after a previous broker made error after error. Can’t recommend them highly enough and they are worth every single penny and then some. Will be...
You will need at least 5% of the sale price of your new build property in Birmingham. The Government will then loan you up to 20% to the value of the property.
Your free mortgage consultation in Birmingham will last approximately one hour. We will then recommend a mortgage for you with no obligation for you to proceed and you can decide whether or not you wish to go ahead.
As your Mortgage Broker in Birmingham, we carry out a Fact Find to establish your needs prior to recommending the most suitable mortgage for you. A credit check is then required for an Agreement in Principle and then once you have provided all the relevant documentation and a valuation of the property has been carried out a formal mortgage offer can be issued
Our Mortgage Advisors in Birmingham recommend that you try and get your Agreement in Principle before you take up the decision of starting to view properties in Birmingham, to avoid disappointment. At the very latest you should obtain one prior to making an offer to assist your bargaining position with the seller.
An Agreement in Principle typically lasts for between 30 and 90 days depending on the lender. If your Agreement in Principle expires it can always be refreshed. If you need help obtaining one, our Mortgage Advisors in Birmingham can usually get one sorted for you within 24 hours of your application.
It can be possible to get a second mortgage on your home in Birmingham for debt consolidation or home improvements. It may also be possible to take out a mortgage on a second property if it is for your own use, the use of a family member, a holiday home or a Buy to Let.
If you have had credit problems you may still be able to get a mortgage but you will likely need to put down a higher deposit than usual, perhaps 15% of the purchase price.
You can get a mortgage in Birmingham once you have submitted at least one year’s accounts. Most lenders use your salary + dividend to calculate the maximum mortgage whereas others go off your net profit.
To prove income it’s usually three payslips for an employee and the latest 2 years’ accounts for Self Employed. In addition, you will need to produce proof of ID, address and 3 months’ bank statements.
Our free consultation in Birmingham typically lasts up to an hour or so. We can turn round an agreement in principle within 24 hours and a formal mortgage offer takes about three weeks on average. Before you know it, you will be moving into your new property in Birmingham!
Give us a call and a Mortgage Advisor in Birmingham will recommend the best Help to Buy scheme based on personal circumstances.
Enjoy finding your dream home in Birmingham
Make an offer on the property and once accepted, we will progress your mortgage application.
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.
