Burger Menu

Help to Buy Mortgage Advice in Coventry

Get Your Free Consultation 7 Days a Week

024 7688 0948

Help to Buy Mortgage Advice in Coventry
Across All Schemes

If you have never been through the home buying process before, it can be quite stressful and can get quite complicated, however, there are ways to help you, such as Help to Buy schemes. There are a lot of different Help to Buy schemes available for you out there in the huge world of mortgages. However, it’s qualifying for a scheme that matters and you will realise that you won’t meet every single one. Help to Buy mostly applies to First Time Buyers in Coventry purchasing a Newly Built Property.

 

This is where your Mortgage Broker in Coventry steps in and helps you out. We can see if you qualify for any Help to Buy schemes and then recommend you with your bets Help to Buy options in Coventry. The two most popular Help to Buy schemes are the Help to Buy Equity Loan and the Help to Buy Shared Ownership.

Help to Buy Equity Loan

This scheme was brought in to help First Time Buyers in Coventry buy a newly built property. No matter what property you are purchasing, the lender usually requires a minimum of a 5% deposit, the same applies to the Help to Buy Equity Loan. Newly built homes usually have high price tags, this scheme allows you to receive up to a 20% loan on your new home meaning that your overall deposit is 25% of the property price. This leaves you with a 75% mortgage to pay off. You will not receive any interest fees on the 20% off the government during the first five years of your ownership of the newly built home. Although, if you have not paid off this 20% by the end of these five years, you will begin to receive interest on this loan until you manage to pay it off.

 

Help to Buy Shared Ownership

The Help to Buy Shared Ownership scheme usually allows you to buy as little as 25% or as much as 75% of a home and pay rent on the rest. If you are struggling to afford 100% the property’s price, the Shared Ownership scheme offers you the chance to buy a share of your home (again, typically between 25% and 75% of the home’s value, though this can be less) and pay rent on the remaining share. Further down the line, you could buy bigger shares when you can afford to.

 

Speak to a Help to Buy Mortgage Advisor in Coventry today and receive a free Help to Buy mortgage consultation, we can’t wait hear from you.

How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

Mortgage Lenders 001
Mortgage Lenders 002
Mortgage Lenders 003
Mortgage Lenders 004
Mortgage Lenders 005
Mortgage Lenders 006

Providing you with Expert Help to Buy Mortgage Advice in Coventry

Before we start the Help to Buy mortgage process with you, we need to check whether you qualify for any of the schemes available. If you want to know more about the schemes out there, all you need to do is contact one of our Amazing Help to Buy Mortgage Advisors in Coventry. For example, the Help to Buy Equity Loan is only available to newly built homes up to the value of £600k. Remember, you have to be a First Time Buyer in Coventry. It relies on the property and you to meet the scheme’s criteria.

 

You must not own any other property at the time you buy your new home with a Help to Buy Equity Loan. Also, you need to remember subletting and part-exchange is not allowed.

 

Find out more information about the Help to Buy schemes available to you at Gov.uk

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

We have been in the mortgage business for over 11 years now and have helped provide many happy customers with expert help to Buy Mortgage Advice in Coventry. We can’t wait to share all of our experience and mortgage knowledge with you.

 

We are always recognised for our amazing customer service, we love offering our full support and guidance through the whole Help to Buy mortgage process. Our outstanding service is shown in our reviews from happy Coventrymoneyman customers on Reviews.co.uk.

 

A Mortgage Advisor in Coventry at Coventrymoneyman will sit down with you and discuss all of your Help to Buy options and recommend to you the best route to take based on your personal situation. Get in touch with your Mortgage Broker in Coventry today and receive a free mortgage consultation.

What our customers say

Common mortgage
questions

Once your free mortgage consultation is complete, we can arrange an Agreement in Principle for you. We can usually get you one within 24-hours of your application.

We will then try and find you a perfect deal for your individual situation. If you want to proceed, we can get your mortgage application ready for submission. Once submitted, a formal offer usually takes more than three weeks.

To back up your mortgage application, you’ll have to provide some evidential documents. This will include things like ID, bank statements, your latest P60 and payslips.

Your dedicated Mortgage Broker in Coventry will go through every step with you to make sure that you get it right!

Yes, you can get a mortgage as a Self Employed applicant, however, you must be able to submit at least one years’ accounts. Not all, but most lenders will use your salary plus dividend to work out the maximum mortgage amount that you can borrow. Sometimes, lenders will also go off your net profit.

It may require you to try and obtain a specialist product, however, yes, it can be possible to get a mortgage despite having bad credit. As a Mortgage Broker in Coventry, in the past, we’ve seen lenders request 10%-15% deposits.

Yes, you can get a second mortgage in Coventry. Here are the most common reasons why people want a second mortgage:

– Debt consolidation
– Home improvements
– Buy to Let
– For a better deal
– Divorce/Separation

Even if your situation isn’t on this list, still feel free to get in touch and we will if we can help.

Usually, depending on the lender that you’ve used, your Agreement in Principle will last anywhere between 30-90 days. If your Agreement in Principle expires, you can easily renew it. If you get in touch with your Mortgage Broker in Coventry, they can arrange this.

Obtaining an Agreement in Principle (AIP) is a crucial part of the mortgage process. As a Mortgage Broker in Coventry, we advise that you get one prior to viewing properties.

Having an AIP in place nice and early could allow you to negotiate prices when making an offer. Of course, you will need to back up your affordability for a mortgage. You are only agreed in principle of providing evidential documents to support your application. Our team can help you with this.

The mortgage process can be made simple by using a Mortgage Broker in Coventry like us. Our mortgage process includes a simple fact find, a free mortgage consultation, then application submission. We can arrange an Agreement in Principle within 24-hours of all of this. We just need some evidential documents from you then we can get the ball rolling!

Your free initial mortgage consultation in Coventry will last around an hour. Firstly, your Mortgage Advisor in Coventry will get some information from you to find out about your mortgage needs and situation. Once we have some details from you, we can begin looking for mortgage deals.

Your dedicated Mortgage Advisor in Coventry will search through 1000’s mortgage deals, trying to find one that matches your personal and financial mortgage situation. If we find a deal, we’ll recommend you with the product. If you are happy to continue, we can get the ball rolling with your mortgage application.

To purchase a property in Coventry through the Help to Buy scheme, you’ll need a minimum of a 5% deposit. The government will top up your deposit to make up a total of 25%.

E.g. If you put down a 10% deposit, the government will loan you an extra 15%.

We make it so easy!
Our 4 step process

Step 1

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

Step 2

Enjoy finding your dream home in Coventry

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.

Handy quick links

Coventrymoneyman.com & Coventrymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

© 2021 Coventrymoneyman

Coventrymoneyman – Sherbourne House, Humber Avenue, Coventry, CV1 2AQ

Moneyman Logo







Moneyman Logo




Moneyman Logo

Ask Your Question





    Moneyman Logo

    Moneyman Logo







    Moneyman Logo

    Book your Free Consultation

    7 Days 8am - 10pm

    Moneyman Logo

    Moneyman Logo