First Time Buyer Mortgage Advice in Durham

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We’ll be With you Every Step of the way!

Are you looking to get onto the property ladder? If so, we want to assist you along your journey from start to finish. Some people say the home buying process is daunting, but rest assured it doesn’t have to be. Our team is here to take away as much stress as possible and put your mind at ease. We offer amazing support when you need mortgage advice in Durham.


As a mortgage broker in Durham, we have helped many homeowners achieve their mortgage goals. It’s not just about finding you a mortgage; it’s about being there for you right through the entire process and answering any questions you have.


If you are looking for first time buyer mortgage advice in Durham, you must know that you’re in safe hands with us.


Am I eligible for a mortgage?

It’s always beneficial to speak with a mortgage advisor in Durham; they have knowledge of lender’s different criteria and can assess your income, expenditure, and credit history to recommend you the most suitable deal for your circumstances.


How much can I borrow?

That depends on the lender; they need to measure your affordability for a mortgage first. This includes assessing your annual salary and any outgoings you have, as well as looking at your credit history to make sure that you are sensible with managing your finances. All of this factors in how much you are allowed to borrow.

That said, your deposit has a substantial impact on the mortgages that are available to you.


Help to buy mortgages for first time buyers in Durham?

The good news is that if you need that extra boost, there are various government schemes available to help first time buyers in Durham get themselves onto the property ladder, including, Help to Buy Equity Loan, Lifetime ISA and the Right to Buy Scheme.


You can find further information on these schemes by checking out our service pages on our website. Our mortgage advisors in Durham are accustomed to all the current government schemes available and are happy to answer any questions you may have regarding these.


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.

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Common mortgage

Your free initial mortgage consultation will roughly last 30-60 minutes. During your consultation, you will get the opportunity to speak with a Mortgage Advisor in Durham. They will ask you some questions regarding your mortgage needs and personal and financial situation.

This will then allow them to go and search for the perfect mortgage deal for you. They will always try and pick out the deal that will benefit you most.

Typically, for a mortgage, you are going to need a minimum of 5% of the property’s purchase price. If you have had credit problems in the past, lenders may ask for a higher percentage. This could be anywhere between 10%-15%.

Firstly, we will get you to fill out our Fact Find to learn a little more about your mortgage situation. Then we will get you booked in for your free mortgage consultation to learn even more about your mortgage needs. After your consultation, we will arrange a mortgage Agreement in Principle for you within 24-hours.

Then it’s over to you to find your dream home and make an offer. Once you’re ready to proceed and you’re happy to take up the mortgage product that we’ve recommended, we can get your mortgage application prepared!

After your 30-60 minute free mortgage consultation, we will be able to search for mortgage products on your behalf. In the meantime we will also arrange an Agreement in Principle within 24-hours. When you are ready to make an offer on a proprty and want to take up our mortgage product, we will begin planning your mortgage application. Once your application is submitted, a formal offer will take about 3 weeks on average.

You will need to provide a variety of documents to support your mortgage application. You’ll be asked to hand in your photographic ID, bank statements, latest P60 and a couple more things.

If you’re Self Employed, you may need to provide 2 years of accounts’.

Just because you are Self Employed doesn’t mean that you can’t get a mortgage, although, it may be a little more difficult.

As a Self Employed mortgage applicant, you will have to submit at least one year’s accounts. Mostly, lenders will use your salary plus dividend to calculate the maximum mortgage amount that you’ll be able to borrow, whereas others will go off your net profit.

If you’ve suffered from bad credit in the past, you may be required to put down a higher deposit than usual. This could be somewhere between 10%-15% of the property’s purchase price.

We always recommend obtaining an AIP as soon as possible. Preferably, you want to have one in place prior to viewing houses in Durham. You may be allowed to negotiate prices if you have an AIP in place when you are viewing houses.

There a various reasons why someone may want a second mortgage. People may want to consolidate their debts into their mortgage, want to improve their home or journey into the world of Buy to Lets. Whatever your reason is for wanting a second a mortgage, you should get in touch with a Mortgage Broker in Durham like us.

Your Agreement in Principle should last around 30-90 days. This timeframe could change depending on the lender that you use. If your Agreement in Principle expires, you can easily refresh it by approaching a Mortgage Broker in Durham like ourselves.

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 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

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR

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