Help to Buy in Nottingham

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Help to Buy in Nottingham – Mortgage Advice Across All Schemes

The Help to Buy Scheme is always a popular option for first time buyers in need of help getting onto the property ladder. With the help of a trusted mortgage advisor in Nottingham, you will hopefully be able to experience a stress-free mortgage process, overcoming any hurdles in your way.


Your dedicated mortgage advisor in Nottingham will always be on hand, to provide support and guidance throughout your journey. We always aim to give you a much deeper understanding of how a Help to Buy in Nottingham will work. Our team will always have your best interests at heart.

How does the Help to Buy Equity Loan Scheme work?

This is a scheme that was set up as a means of assisting first-time buyers. In the past, this scheme was also available to existing homeowners who were looking to move home, though as of April 2021 the scheme has been remodelled and this no longer applies. Here are some key things to remember with a Help to Buy in Nottingham:


– You must have a minimum of 5% deposit.

– Up to 20% of the properties value will be loaned to you from the Government.

– Your mortgage balance will be covered by a special Help to Buy mortgage.

How do you qualify for a Help to Buy in Nottingham?

As a part of our personalised service, we will help you to figure out if you qualify for a Help to Buy in Nottingham. Help to Buy Equity Loans can only be used on new-build properties, with the maximum value determined by your location (see the government OwnYourHome site for more info). A Help to Buy in Nottingham can only be accessed by first time buyers.


You must not own any other property, meaning if you already own a home, you are prohibited from buying a second home with this scheme.  You are also not allowed to take part in any part-exchange and sub-letting deals.


Help to Buy Shared Ownership

By utilising the Help to Buy Shared Ownership Scheme, you are able to purchase a share in a property, rather than the whole thing. The percentage you will buy tends to be between 25% and 75%, though on some occasions, you can possibly purchase as low as 10%. The remainder of the property percentage will be paid with rent.


If you are unable to afford the mortgage on 100% of a home, Help to Buy Shared Ownership allows you the opportunity to only buy some of it, with a chance to increase your shares at a later date when it is financially viable to do so.


As an expert Mortgage Broker in Nottingham, we are here to provide mortgage advice to those looking to use a Help to Buy in Nottingham, no matter which scheme. To learn more about the various schemes available, or to get started with your own Help to Buy in Nottingham, book your free mortgage appointment and we’ll see how we can help.


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Expert Mortgage Advice for Help to Buy in Nottingham

Our team of honest and open mortgage advisors in Nottingham will always recommend the deal they believe is best for you. They will work hard to make sure that you are happy, stress-free, always kept well informed and are secure throughout your Help to Buy in  Nottingham.


A Help to Buy in Nottingham helps first time buyers to buy a new-build home with only a 5% deposit. Generally speaking, Help to Buy Shared Ownership deposits are lower than traditional buying.


In using a Help to Buy Equity Loan, you will be given a loan of up to 20% of the cost of your new-build home by the government. This means that you will only need a 5% cash deposit and a 75% mortgage to cover the rest of the costs.


Book your free mortgage appointment with a mortgage advisor in Nottingham to get started with your Help to Buy in Nottingham.


Help to Buy in Nottingham – Do I Qualify?

Before we take a look at helping you to obtain a Help to Buy in Nottingham, we need to see if you qualify for any of the  available Help to Buy Schemes.


You must be a first time buyer, purchasing a new-build property. You cannot already own a home and cannot take part in sub-letting or part-exchange. The maximum property price that this scheme can be used on, depends entirely on the area you are looking to purchase a home with.


To learn more about the various schemes available and how they can help you as a first time buyer in Nottingham, get in touch with one of our expert Help to Buy mortgage advisors in Nottingham, or visit the government OwnYourHome website.

Why should you choose us as your mortgage broker in Nottingham?

As a trusted and experienced mortgage broker in Nottingham with well over 20 years of providing mortgage advice in Nottingham and surrounding areas, we have become rather accustomed to helping first time buyers get onto the property ladder using a Help to Buy in Nottingham.


A dedicated mortgage advisor in Nottingham will be on hand to answer all of your mortgage questions. If your potential home meets the criteria for a Help to Buy in Nottingham, we can also look through the paperwork with you, even being able to liaise with the home builder or an estate agent if you need help with that.


We are also able to provide advice regarding surveyors or solicitors, pointing you in the right direction and explaining what you need to do. During your initial free mortgage appointment, your dedicated mortgage advisor in Nottingham will explain all of the figures to you, outlining the possible monthly costs for you once you have obtained a mortgage.


As providers of a fast and friendly mortgage advice service, we are here to guide and support you across every step of your mortgage process. Book your free mortgage appointment online today and we will see how we are able to help you.

Reviews Stars4.94 Rating269 Reviews

Common mortgage

For a Help to Buy mortgage in Nottingham, you will need to have a minimum of a 5% deposit. This 5% is taken from the sale price of your new build property. The government will top up your deposit through an equity loan to make up a total of a 25% deposit. For example, if you put down a 5% deposit, the equity loan will be 20%; if you had a 10% deposit, the equity loan will be 15%.

Your free mortgage consultation with us will last around an hour. During this consultation, your dedicated Mortgage Advisor in Nottingham will get to learn a bit more about your personal and financial situation.

Once your consultation is finished, your Mortgage Advisor in Nottingham will go away and try and find you a perfect mortgage deal tailored to your circumstances. If you love the mortgage offer that they’ve picked out and want to continue, the next step is to submit your mortgage application!

Our mortgage process consists of multiple different steps:

1. Once you get in touch, we will have you carry out our Fact Find so that we can get a bigger picture of your mortgage situation.

2. You’ll undergo your free mortgage consultation, then your dedicated Mortgage Advisor in Nottingham will begin searching for mortgage deals that are tailored to your circumstances. If we find you an offer that you are happy to proceed with, we can get the ball rolling with your mortgage application.

3. We will perform a credit check on you in order to obtain an agreement in principle. Furthermore, we will get some evidential documents from you in order to back up your mortgage application.

4. We will submit your mortgage application and wait for a formal mortgage offer to be issued.

As a Mortgage Broker in Nottingham, we always advise applicants to obtain an Agreement in Principle before viewing properties. Firstly, you’ll need an Agreement in Principle to make an offer on a property. Secondly, having one in place could put you in a position to negotiate prices.

An Agreement in Principle typically lasts for 30-90 days. This timeframe may change depending on the lender that you are using.

If your Agreement in Principle expires, you can easily renew it by getting back in touch with your Mortgage Advisor in Nottingham or your lender.

It’s possible to obtain a second mortgage; as a Mortgage Broker in Nottingham, here are the most common reasons we see for people wanting a second mortgage:

– Debt consolidation
– Home Improvements
– Buy to Let
– Other, e.g. for a Family Member, Holiday Home, etc.

If you’ve had bad credit issues in the past, you may find it a little harder to get a mortgage, but that isn’t saying you still can’t get one!

Lenders may ask for a slightly higher deposit if you’ve had bad credit in the past. Some lenders may ask for a deposit of around 10-15%.

If you are able to submit at least one year’s of accounts, the more likely you are of being able to obtain a mortgage. Most of the lenders that we use look at your salary plus dividend to calculate the maximum mortgage amount. Others may go off your net profit, it all depends on the lender.

  • Photo ID (Driving license, Passport, etc.).
  • Proof of Address (Utility bills, tax bills, credit card statements, etc.).
  • Latest 3 months’ payslips & Latest P60 (employed applicants)
  • Latest 2 years’ tax calculations and corresponding overviews (self-employed applicants)
  • 3 months’ bank statement proving the deposit being built-up with an explanation for any large credits.

Your free mortgage consultation in Nottingham will usually last around an hour. Following the consultation, we can turn around an Agreement in Principle for you within 24-hours. Now it’s just the case of submitting your mortgage application. A formal offer can take around three weeks on average to come back.

We make it so easy!
Our 4 step process

Step 1

Give us a call and a Mortgage Advisor in Nottingham will recommend the best Help to Buy scheme based on personal circumstances.

Step 2

Enjoy finding your dream home in Nottingham

Step 3

Make an offer on the property and once accepted, we will progress your mortgage application.

Step 4

We will be here to answer all of your mortgage questions right through till you get 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.

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