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First Time Buyer Mortgage Advice in Cambridge

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Welcome to our website Cambridgemoneyman, we are a Mortgage Broker in Cambridge and surrounding areas. If you’re buying a home as a First Time Buyer, you may feel a little nervous about the process. It’s understandable – We know just how much competition there is in the market and the Estate Agents can put pressure on you. Our job is assigning you with one of our team of experienced advisors, and they will work patiently and effectively alongside you, to ensure your property-owning dreams come to life

Finding The Right Deal | Mortgage Advisor in Cambridge

On top of assigning you to one of our Mortgage Advisors in Cambridge, It’s our job to search through thousands of mortgage deals, to find the right mortgage based on your circumstances. Whether you’re buying by yourself, with a friend/partner, or are having mortgage problems, we’re usually able to help. We like to inform our customers that having your Agreement in Principle handy at all times is a good idea, especially if you’re ready to make an offer. Worry not we can help you out with this.

How Much Deposit Will I Need?

The minimum deposit required for a first-time buyer is 5%. The deposit can come from your savings or even a gifted deposit from a friend or family member. In some cases, you can have a combination of both gift and savings.

Are You Currently Renting?

In many cases, buying a property and taking out a mortgage can be cheaper than privately renting. If you’ve thought about purchasing the property, you’re currently in from your landlord or housing association, and it’s worth checking your eligibility for the Right to Buy Scheme. Speaking to your local authority should allow clarification on this.

 

How does it work?Get a quote nowMeet your advisor

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

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First Time Buyer Mortgage Advice in Cambridge

  • Wanting to get an idea of how much you can borrow and how much this will cost before you start viewing properties?
  • Seen a property that you’d like to go for and are wanting to make an offer?
  • Already had your offer accepted and want to get going with your mortgage application?
  • Would like a Mortgage Agreement in Principle Certificate to back-up any offers you are ready to make?
  • Already visited your Bank’s Mortgage Advisor and been declined? i.e. poor credit, income mix, the bank won’t lend enough, not fitting their lending criteria etc
  • Do you have an unusual or complex mortgage situation and need help?

 

Contact us your Mortgage Broker in Cambridge to book your free mortgage consultation.

How We May Be Able To Help

We only work with your best interests at heart, without any ties to estate agents, banks or building societies. Our Mortgage Advice team will do their best to make the process as simplified & stress-less as possible, free of industry jargon. We are also able to look at sourcing conveyancing and solicitors’ quotes for you, as well as speak with an Estate Agent about an offer you wish to make – We’re with you for the whole journey!

 

Contact us to book your free mortgage consultation.

What our customers say

Common mortgage
questions

Firstly, you need to fill out our Fact Find to get an idea of your current personal and financial situation. Next, our team will pass over this information to your dedicated Mortgage Advisor in Cambridge, and they will keep in touch to schedule your free mortgage consultation. You will get asked a series of questions to help build up a profile; this will help them pick out a mortgage deal tailored to you.

Secondly, once the consultation is over, a credit check will carry out, and this will help you obtain an Agreement in Principle. Granted, if you are okay with everything and happy to proceed, we will then ask for some documentation to help strengthen your application.

Lastly, with your Agreement in Principle, submitted evidential documentation and a comprehensive mortgage offer that you’re happy to continue with, you can move onto the last stage – mortgage application submission!

The time scale can alter depending on the Lender but on average, an Agreement in Principle will likely last around 30-90 days.

If you’re Agreement in Principle expire, worry not. It’s an easy process to renew. Speak to one of our Mortgage Advisors in Cambridge or your current Lender to arrange a renewal of your Agreement in Principle.

You sure can! If you are wondering why someone might want a second mortgage, here are some popular situations:

🏠 Debt Consolidation
🏠 Home Improvements
🏠 Buy to Let
🏠 For a second home/holiday home

If you are looking for a second mortgage, contact our mortgage team in Cambridge today, and see how they can help you.

It may be harder for you to obtain a mortgage with past credit problems, but not impossible depending on circumstances. You may get asked to put down a larger deposit, which will vary depending on your lender.

If you are suffering from bad credit, give us a call, and our advisors will be more than happy to try and help. We have a wide variety of specialist mortgage lenders who may have the perfect mortgage deal for your financial situation.

Yes, the good news is it is possible to obtain a mortgage as a self-employed worker depending on circumstances. First. You need to produce at least one year’s accounts.

To work out the maximum mortgage amount you can borrow, Lenders will use your salary + divided, whereas others might go off your net profit.

Whether you’re applying for a mortgage or looking to remortgage, there are a few documents lenders will always want to see during the process. You will get asked to provide some evidential documents to back up your mortgage application. For example, you’ll need things like ID, bank statements, payslips.

Don’t worry if you forget any of these documents listed; your assigned Mortgage Advisor in Cambridge will run through all of this with you, so nothing gets missed.

Your free mortgage consultation in Cambridge can take approximately an hour; within the hour, we take an in-depth look into your personal and financial situation.

Once your consultation gets concluded, we will try to turn around an Agreement in Principle within 24-hours. An Agreement in Principle is essential when making an offer on a property, as estate agents and sellers often accept those who already have an AIP than those who haven’t.

The final step is to submit your mortgage application and wait for a formal mortgage offer. Usually, this will take about 2 -4 weeks – provided the process goes smoothly, and your application is relatively straightforward.

Our Mortgage Advisors in Cambridge job is to gather personal, financial and financial mortgage situation information from you during your free mortgage consultation because they need to build an in-depth understanding of your mortgage needs to try and find you the most suitable mortgage.

Once your consultation is complete, your Mortgage Advisor in Cambridge will begin searching for mortgage products on your behalf to match your personal and financial situation, saving you time and money.

We recommend you get an Agreement in principle before viewing any houses in Cambridge. Doing so may increase your chance of your offer getting accepted and will put yourself in front of other buyers who don’t have an Agreement in Principle in place.

The deposit all depends on certain factors. For example, depending on your credit history and the lender you are using, they might only require a 5% deposit of the property price.

Other factors come into play, such as if you fall into the lower credit score bracket, you may expect to put down a 10-15% deposit.

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We make it so easy!
Our 4 step process

Step 1

A telephone test call where we can take some initial details and find out about your plan of action.

Step 2

Enjoy finding a property!

Step 3

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Step 4

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.

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

Cambridgemoneyman.com & Cambridgemoneyman 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 Cambridgemoneyman

Cambridgemoneyman, Nine Hills Road, Cambridge, CB2 1GE.

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