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First Time Buyer Mortgage Advice in Cambridge

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7 days a week, 8am - 10pm

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First Time Buyer Mortgage Advice in Cambridge

Discover your borrowing potential and move closer to securing your dream home as a first time buyer in Cambridge.

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Helping first time buyers in Cambridge.

Purchasing a home can be a significant event in your life as well as being a large financial commitment. We know that going into the process as a First Time Buyer can be nerve-wracking, however, our role as a mortgage broker in Cambridge is to try and take as much of the stress and worries away and be by your side through the process.

We believe getting a mortgage is about the journey and how you got there which is why we aim to make the process simple. Our team will update you about the activity that is going on at each step and your dedicated Mortgage Advisor will be with you from the beginning all the way to completion.

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First Time Buyer Mortgage Advice in Cambridge

Looking for an agreement in principle ahead of your mortgage?

Having a AIP to hand is key for your mortgage journey. This is because it can be helpful through many stages of the process. An agreement in principle is an indicator to the seller that you want to pursue straight away.

To support your application, you will be required to provide evidential documents which is something our team can help you with.

How much deposit do I need for a first time buyer mortgage in Cambridge?

The amount you will need comes down to your credit score. Through our experience providing expert mortgage advice in Cambridge, it’s likely that the majority of First Time Buyer will have a good credit score. By having this, it can be possible that you have access to better mortgage rates that could allow you to put down a smaller deposit like 5%.

In the case where you are a first time buyer but you have a low credit score, you will be restricted to rates that are much lower and will require you to put down a much larger deposit like 10-15%.

Another factor that can impact the deposit amount will also be the type of property you’re looking to buy. The higher in value the property is the more you will have to put down as an initial deposit.

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Frequently Asked Questions From First Time Buyers in Cambridge

What ways are there to help me get onto the property ladder in Cambridge?

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Government mortgage schemes are designed for those who are struggling to reach the minimum deposit requirement. This could be a good option for you as they are there for the purpose of helping first time buyers like yourself begin their mortgage journey. If you are wanting to find out more about the all the options along with the different government schemes available, book yourself in for a free mortgage appointment with one of our Mortgage Advisors in Cambridge.

All of these Help to Buy Schemes in Cambridge are designed to help you get onto the property ladder in some way. You will need to know if you qualify for any of the schemes first, however, Cambridemoneyman can help with that!

Our team has extensive knowledge regarding all government mortgage schemes so if you are looking on this as well as more first time buyer mortgage advice in Cambridge, please do get in touch. Our team of expert mortgage advisors in Cambridge can lend a helping hand when applying for a mortgage and see if you are eligible for any of these schemes.

What are the costs involved with first time buyer mortgages in Cambridge?

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When you are in the process of buying a property, there are a number of costs that you will need to consider in addition to saving for a deposit. These costs can include conveyancing and solicitor fees, which cover the legal side of the transaction. Property surveys are also a necessary expense to ensure the condition and value of the property you are buying.

In addition to these costs, you may also need to pay stamp duty, which is a tax levied on the purchase of property. It’s worth taking out insurance to protect your home and contents, as well as your financial security.

Our designated mortgage advisor in Cambridge will be able to discuss all of these costs in more detail during your free initial mortgage appointment. They will be able to provide a comprehensive overview of the expenses involved in buying a property, ensuring that you are fully prepared for the process ahead.

What do I need to buy my first home in Cambridge?

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Saving for at least a 5% deposit or more is the first step towards buying your first home in Cambridge. Once you have enough savings, you should reach out to a conveyancing solicitor to handle the legal aspect of the property purchase.

Cambridgemoneyman has a knowledgeable team that specializes in assisting first time buyers. Our mortgage advisors in Cambridge are experienced in working with first time buyer mortgages and can help you determine if you are eligible for a mortgage. They can also assist first time buyers in Cambridge finding the best mortgage option.

What type of first time buyer mortgages can I get in Cambridge?

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A fixed rate mortgage is a popular first-time buyer mortgage option in Cambridge. This type of mortgage allows you to lock in your interest rate for a set period of time, usually 2-5 years. This provides stability and protection against any potential interest rate increases during that time frame. With a fixed rate mortgage, your monthly payments remain the same, providing you with a predictable and budget-friendly mortgage experience.

Another type of first time buyer mortgage available in Cambridge is a tracker mortgage. With this option, your interest rate is tied to the Bank of England base rate, meaning that if the base rate rises, your interest rate will also increase, and vice versa if the rate decreases.

An offset mortgage is another option for first time buyers in Cambridge. With this type of mortgage, you have an attached savings account that offsets against the balance of your mortgage. The larger your savings balance, the lower the interest charged on your mortgage. This allows for a flexible and potentially interest-saving experience. However, it is important to note that offset mortgages often come with a higher interest rate compared to other mortgage options.

It’s important to consider the pros and cons of each type of mortgage and choose the option that best suits your needs and financial situation. Cambridgemoneyman’s mortgage advisors can assist you in choosing the right mortgage for you.

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Our Simple Mortgage Process

Free 30 Minute Mortgage Appointment

Step 1

It's important to discuss your financial situation and mortgage goals with a knowledgeable and transparent mortgage advisor in Cambridge. During your free mortgage appointment, the advisor will take into account your income and expenses to calculate the maximum amount you can borrow as a first time buyer in Cambridge.

Cambridgemoneyman's team of mortgage advisors is committed to providing personalised and comprehensive support to first time buyers in Cambridge.

Contact us to schedule your free mortgage appointment and take the first step towards realising your dream of homeownership.

We Can Search 1000’s of Mortgage Deals

Step 2

At Cambridgemoneyman, our team can search through thousands of first time buyer mortgage options to find the perfect one for you.

We understand that time is of the essence when it comes to purchasing a home, which is why we strive to obtain a mortgage agreement in principle within 24 hours of your free initial appointment.

Having a mortgage agreement in principle can be a valuable tool as you move forward with making offers on properties in Cambridge. It demonstrates to sellers that you are a serious and credible buyer, giving you a competitive edge in the market.

Submit Your Mortgage Application

Step 3

Once your offer on a property has been accepted, your designated mortgage advisor in Cambridge will submit your complete mortgage application and accompanying documentation to the lender.

Throughout the mortgage process, your case manager will keep you updated and informed every step of the way, from submission to receiving your mortgage offer and completing your purchase.

You can trust us to provide a seamless and stress-free experience, as we work diligently to ensure a smooth and successful outcome for all of our clients.

Protecting You and Your Mortgage

Step 4

We go beyond the mortgage! Along with finding you the best first time buyer mortgage deal, we will also recommend the most appropriate insurance to financially protect you and your loved ones.

Getting protection when obtaining a mortgage can help provide financial security in case of unexpected events such as death, disability, or job loss.

It can help cover mortgage payments, ensuring that the borrower's family is not left with the financial burden of paying off the mortgage.

Reasons to Choose Us

Free Mortgage Appointment

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Contact our team to get yourself booked for your free mortgage appointment with one of our expert advisors today. All our new/existing customers are offered a free initial mortgage appointment that can be carried out on the telephone or through a Microsoft Teams video call.

Our team strive in making the mortgage process as smooth and straightforward as possible. Through the full process, your allocated case handler will keep you up to date explaining everything that is going on keeping technical jargon to a minimum.

1000s of Deals

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As a First Time Buyer in Cambridge, it’s important that the deal you are on is the one that is appropriate for your circumstance. That is why our team search through 1000s of mortgage deals to find the one best for you. Supporting you through the process us important to us as it’s not just about finding the right mortgage for you, it’s about the journey towards that goal.

Our Service

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We understand obtaining a mortgage isn’t always straightforward so our team are available to answer any queries you may have. Our team always provide a tailor-like service to you, our customer, so we can help you with your personal and financial situation.

With rich knowledge and extensive experience, our Mortgage Advisors in Cambridge have a reputation of successfully helping a lot of first time buyers fulfil their home owning dreams by kickstarting their mortgage journey.

7 days a Week

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Here at Cambridgemoneyman, we understand that everyone’s day to day lives are different which is why our team of expert mortgage advisor in Cambridge are available 7 days a week, from early until late at night so you can get in touch with us when you are free to do so.

Malcolm and Amy Davidson - Mortgage Advice in Cambridge

We Search 1000s of First Time Buyer Mortgages in Cambridge

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Common First Time Buyer Mortgage Scenarios

How can a mortgage broker in Cambridge help me?

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We have gone through many similar and reoccurring mortgage scenarios when helping thousands of first time buyers achieve their mortgage goals. In a number of cases, our team have encountered a difficult mortgage case that they may have not dealt with before, however, this doesn’t stop us from solving any problems that may come with it.

How much can you borrow for a mortgage in Cambridge?

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Our affordability calculator can provide a rough estimate on the amount you can borrow otherwise you can get in contact with one of our Mortgage Advisors in Cambridge. Either way, both options will provide you with a rough estimate if you are finding it difficult to determine the amount you want to borrow.

The amount you can borrow can vary depending on some factors like your income and earnings. Therefore, we will undergo a free affordability assessment on you so our team can provide you with a more accurate figure.

Ready to make an on a property?

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If you have found a property that you would like to make an offer on, it is then time to start arranging the mortgage part of the process. As soon as you are looking to start this, you can book yourself in for a mortgage appointment online with a Mortgage Advisor in Cambridge.

Sometimes, we will have appointments on offer for the same day, giving you the chance to get in touch with an expert straight away!

Has your offer already been accepted?

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If you have had an offer accepted, this means you need to get your mortgage process started immediately!

A mortgage broker in Cambridge can help prepare your mortgage application and can often speed up the mortgage process. With 20 years in the industry, we are experts in what we do.

Struggling to get accepted for a mortgage?

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Obtaining some guidance and support from a mortgage expert can be beneficial if you are finding the mortgage journey difficult.

If you are finding the mortgage journey a challenge, don’t hesitate to get in touch! A Mortgage Broker in Cambridge can provide a helping hand throughout the process.

Mortgage Guides & Cambridgemoneyman 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

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