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First Time Buyer Mortgage Advice in Durham

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Welcome to Durhammoneyman’s First Time Buyer Mortgage Advice page. First Time Buyer Advice from your expert Mortgage Broker in Durham.

 

Having over ten-years of valuable mortgage knowledge under our belts, we would love to help you as a First Time buyer. All we want is for the mortgage process to go nice and smoothly so you can find your first perfect home with ease.

 

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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Popular Mortgage Scenarios We Have Come Across in Durham

We have worked with thousands of First Time Buyers in Durham and we found that the same situations kept popping up. As part of our service to you, we can look at a large variety of different things:

  • Working out your monthly budget based on your property price
  • Producing a mortgage agreement in principle so that you can support any offers you make with the estate agent
  • Completing your mortgage application through to getting you a mortgage offer
  • Explaining the different types of property surveys that are available to you
  • Recommending a local competitively priced Solicitor with high service standards (if required)
  • Running through your mortgage offer(s) to ensure that all your details are correct
  • Also recommending any associated insurances with your new mortgage (if required)

 

Contact us to book your free mortgage consultation.

Why choose us for First Time Buyer Mortgage Advice in Durham?

The greatest thing about a Mortgage Broker in Durham, like us, is that they will sort everything for you. At Durhammoneyman, we have a team of amazing advisors that will search through thousands of mortgage deals on your behalf. They will go above and beyond for you till they find an appropriate deal that is best suited to your situation.

 

Nowadays, the property market is very competitive which can leave First Time Buyers under a lot of pressure to secure that deal that you want. This is where your expert Mortgage Broker in Durham, Durhammoneyman, can step in and help you to take all of the stress off your back.

 

At Durhammoneyman, we will consider every mortgage situation we are approached with. Never feel like your situation is too complicated, as we have dealt with thousands of complex mortgage cases and it is more than likely that we have got over a similar hurdle before. The last thing you need as a First Time Buyer is to be stressed out, so our team are always on hand to reassure you when things get overwhelming.

 

Contact us to book your free mortgage consultation.

What our customers say

Common mortgage
questions

Your free mortgage consultation in Durham will last round about 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 proceed with the mortgage.

As your mortgage broker in Durham, we carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for you. A credit check is then required for an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can be issued.

To avoid possible disappointment, we recommend you obtain an Agreement in Principle before you begin viewing properties in Durham. At the very latest you should obtain one prior to making an offer to assist your bargaining position.

An Agreement in Principle typically lasts for between 30 and 90 days depending on the Lender used. If your Agreement in Principle expires it can always be refreshed.

It may be possible to get a second mortgage on your home for things like debt consolidation or Home Improvements. It may also be possible to take out a mortgage on a second property if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let in Durham.

The minimum deposit when purchasing a house in Durham with High Street Lenders is typically 5%. This can be higher if you have had previous credit problems.

If you have had credit problems you can still get a mortgage but you may possibly be required to put down a higher deposit than usual, perhaps 15% of the property purchase price.

Once you have submitted at least one year’s accounts, you are able to get a mortgage. Most Lenders use your salary plus dividend to calculate the maximum mortgage, whereas others are known to go off your net profit.

It’s usually three payslips for an employee to prove income and the latest 2 years’ accounts for self-employed. You will also need to produce proof of ID, address and 3 months’ bank statements.

Our free consultation typically lasts up to an hour or so. We can turn round an agreement in principle within 24 hours. A formal mortgage offer takes about three weeks on average.

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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

Durhammoneyman.com & Durhammoneyman 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.

© 2020 Durhammoneyman

Durhammoneyman – Portland House, Belmont Business Park, Durham, DH1 1TW

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