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First Time Buyer
Mortgages in Nottingham

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First Time Buyer
Mortgages in Nottingham

Are you a first time buyer in Nottingham? Discover your borrowing potential and move closer to securing your dream home. Start your mortgage journey with an expert today.

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Looking at Getting a First Time Buyer Mortgage in Nottingham?

The process of buying your own home is likely to be one of the biggest financial commitments you will ever make in your lifetime. As a first time buyer in Nottingham, it can be an overwhelming experience.

As a trusted mortgage broker in Nottingham, we understand the importance of making the process less intimidating, reducing your stress levels and guiding you through the entire journey. Our goal is not simply to find you a mortgage but to work alongside you throughout your home buying journey, helping you create lifelong memories in your new home.

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First Time Buyer<br>Mortgages in Nottingham

We will be With you Throughout the Whole Process!

In the case that you are unsure of your eligibility and are looking to take out a mortgage to purchase your first home, get in touch with one of our mortgage advisors in Nottingham. We work hard to make sure that we simplify the process, avoiding jargon and ensuring that you are informed every step of the way.

From the initial stages of your mortgage process, to completion and beyond, your dedicated mortgage advisor in Nottingham will be by your side.We pride ourselves on providing a supportive and reassuring presence, ensuring that you have all the information and mortgage advice in Nottingham that is necessary to make informed decisions throughout the home buying process.

How much deposit do I need for a mortgage in Nottingham?

When it comes to buying a home, typically speaking, one of the most challenging aspects of the process for first time buyers in Nottingham, is saving up for the deposit. The minimum deposit required is usually around 5-10% of the purchase price, but this can vary depending on your credit score.

For many younger first time buyers in Nottingham, the lack of credit history can be a challenge. As an experienced mortgage broker in Nottingham, we understand many of the different challenges that first time buyers in Nottingham face. We have found that if a first time buyer in Nottingham does have a good credit score, they may be able to access a higher loan-to-value mortgage, such as a 90-95% mortgage.

That being said, if a first time buyer in Nottingham does have a lower credit score, they may only have access to lower loan-to-values, which means they will need to put down a larger deposit, often upwards of 15%. This is to reduce a mortgage lenders risk when lending.

The amount of deposit you need will also depend on the purchase price of the property. Your mortgage will be a percentage of the purchase price, so the higher the purchase price, the larger the deposit you will need to put down. Our dedicated mortgage advisors in Nottingham can help you understand the deposit requirements and work with you to find the best mortgage options based on your financial situation.

We aim to make the process as clear and straightforward as possible, so you can focus on finding your dream home.

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FAQ's From First Time Buyers in Nottingham

Are there ways to help me get onto the property ladder in Nottingham?

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If you find that you are unable to meet the minimum requirement for a deposit on a property, do not worry!

There are a selection of different government mortgage schemes that first time buyers in Nottingham could find useful, such as the Shared Ownership Scheme, First Home Scheme, Right to Buy Scheme and more.

All of these will of course require you to meet the criteria before you will be able to use them. To learn more about the criteria for each of these or to find out more about other mortgage schemes that might be available, we would recommend visiting the government OwnYourHome website.

Alternatively, you can speak to a trusted mortgage advisor in Nottingham, who will run through these with you. To receive any further first time buyer mortgage advice in Nottingham, book your free mortgage appointment today.

Our fast & friendly team are here from early until late, every day of the week to run through your case and help you apply for a mortgage. The mortgage process doesn’t need to be difficult! Let us help you become the owner of your very first home.

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

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As a first time buyer in Nottingham, you have access to various mortgage options tailored to your needs. These include:

Fixed-Rate Mortgages: These mortgages offer a fixed interest rate for a set period, typically 2, 3, 5, or 10 years. They provide stability in your monthly repayments.

Tracker Mortgages: Tracker mortgages have an interest rate that moves in line with the Bank of England base rate. Your repayments can go up or down based on this rate.

Repayment and Interest-Only Mortgages: You can choose between repayment mortgages, where you pay back both the principal and interest, or interest-only mortgages, where you only pay the interest during the term.

It’s crucial to consult with a mortgage broker in Nottingham who can assess your financial situation and help you select the most suitable first time buyer mortgage option. They can also assist you in finding suitable mortgage deals available in the market.

Remember that mortgage availability and terms can change, so it’s essential to stay updated and seek mortgage advice in Nottingham when making important financial decisions.

Why should I speak with a Mortgage Broker in Nottingham?

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As a company, we have helped thousands of first time buyers in Nottingham in achieving their dream of owning a home.

With a combined experience of over 100 years in the mortgage industry, our expert mortgage advisors in Nottingham have dealt with almost every type of mortgage scenario you can think of.

As a result, we possess the expertise and knowledge to help you succeed in your home buying journey. That said, there may be times where we come across a situation that is new to us.

Even in such cases, we are committed to working hard to overcome any obstacles and find a solution that meets your mortgage needs.

Our goal is to ensure that you have a smooth and stress-free experience as a first time buyer in Nottingham.

Our Customers Love Us

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Our Simple Mortgage Process

Free 30-Minute Mortgage Appointment

Step 1

During your free mortgage appointment, you will get chance to speak with our expert mortgage advisor in Nottingham, they will conduct a thorough assessment of your income and expenses.

We Can Search 1000s of Mortgage Deals

Step 2

Our team of experts can search 1000's of deals tailored for first time buyers in Nottingham. This will set you on the right path towards becoming a homeowner. Following your consultation, we will promptly secure your mortgage agreement in principle (AIP), usually within 24 hours, a handy tool to have when making any offers on a property.

Submit Your Mortgage Application

Step 3

Once your offer on a property is accepted, our dedicated mortgage advisor in Nottingham will take care of submitting your mortgage application and forward any additional documentation required by the lender.

Protecting You and Your Mortgage

Step 4

In addition to finding the most suitable mortgage deal for first time buyers in Nottingham, our team is devoted to helping you obtain comprehensive insurance coverage to safeguard you and your loved ones financially.

Reasons to Choose us

Free Mortgage Appointment

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It is our job here, to provide all of our customers with fast and friendly mortgage advice in Nottingham. A trusted mortgage advisor in Nottingham will take a look at your case and look to find you the most suitable mortgage deal for your circumstances. Book yourself in for a free mortgage appointment using our online booking feature today. Getting a mortgage appointment with a mortgage expert has never been easier!

1000s of Deals

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As a mortgage broker in Nottingham, we have the ability to access various unique and competitive mortgage products. With a vast panel of mortgage lenders and a great relationship with each of them, we may be able to find the perfect mortgage deal for you!

Our Reviews

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Our amazing customer reviews are a great representation of our service. We have built up a large collection of customer reviews over the years. Feel free to take a look and see why so many choose Nottinghammoneyman for mortgage advice in Nottingham. As an open & honest mortgage broker in Nottingham, we pride ourselves on the customer service levels we provide. We want to make sure that you are safe and secure throughout your mortgage journey.

7 days a Week

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We are open for business 7-days a week, from early on in the day until late at night, including weekends and some bank holidays! This means that you are able to speak with a dedicated mortgage advisor in Nottingham at times that work around your schedule. We are also open beyond the typical 9-5, meaning you can get an evening appointment if that suits you best, subject to availability.

Malcolm and Amy Davidson - Mortgage Advice in Nottingham

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Common First Time Buyer Mortgage Scenarios

How much can I borrow?

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It is understandable that many first-time buyers want to know the maximum amount they can borrow for a mortgage, as it can give them a better idea of their budget and the properties they can afford.

While a mortgage calculator can provide a rough estimate of how much you could borrow based on your financial situation, it is important to keep in mind that this may not be an accurate reflection of your personal situation. The amount you can actually borrow may depend on a range of factors, including your credit score, income, and expenses, as well as the specific lender’s criteria and the type of mortgage you’re applying for.

Therefore, it’s always a good idea to speak with a qualified Mortgage Advisor in Nottingham to get a better understanding of how much you can borrow based on your personal situation. They can assess your individual circumstances and provide you with a more accurate estimate of how much you can borrow, as well as help you to find the best mortgage deal for your needs.

Ready to Make an Offer

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One of the advantages of utilizing our services as a Mortgage Broker in Nottingham is that our team of mortgage advisors will provide you with ongoing support and guidance throughout the entire process, which can be highly beneficial.

Here at Nottinghammoneyman, our expert team can help you obtain your mortgage agreement in principle on your behalf. Generally, we can get this sorted for you within 24 hours of your initial appointment. Keep in mind, that having an agreement in principle doesn’t automatically guarantee you a mortgage. It does, however, show the seller that you are ready and can proceed.

In summary, by using our services for Mortgage Advice in Nottingham, you can benefit from our team’s expertise and guidance, which includes helping you obtain an AIP that can put you in a stronger position when making an offer on a property as a first-time buyer.

You’ve Had an Offer Accepted

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Prior to starting to make offers, we do strongly recommend getting in touch with an expert mortgage advisor in Nottingham initially. When you get an offer accepted on the home, we can proceed with your mortgage application.

With the assistance of a mortgage advisor in Nottingham, you will be able to find out if you are eligible for a mortgage, and get your AIP sorted so that you, the homebuyer, can back up any offers you put down.

Need an Agreement in Principle (AIP)

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As mentioned previously, making an offer with an agreement in principle on hand is very beneficial in the homebuying journey. Here at Nottinghammoneyman, our team can generally get your mortgage agreement in principle sorted within 24 hours of your mortgage appointment.

Declined By Your Bank or Building Society

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Through our experience, we find that many people seek open and honest mortgage advice in Nottingham after approaching a bank and being declined for a mortgage. There can be a variety of reasons why a bank may decline your mortgage application and it’s our job to find this out for you.

Our goal as an expert mortgage broker in Nottingham is to explore a range of options in the hopes of finding you the one that is fitting for your personal and financial situation. As well as this, we have access to a large panel of lenders who offer specialist products.

Here at Nottinghammoneyman, our team are available 7 days a week to provide updates on your process as well as answer any of your mortgage questions, which can be a massive benefit for first time buyer in Nottingham. Contact us today and take advantage of the free mortgage appointment we offer to all our customers.

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Nottinghammoneyman.com & Nottinghammoneyman 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, Nottingham, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

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