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First Time Buyer Mortgage Advice in Liverpool

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First Time Buyer Mortgage Advice in Liverpool

Are you a first time buyer in Liverpool? 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 Liverpool?

Buying your own home as a first time buyer in Liverpool can be a huge achievement as you take on one of the largest financial commitments of your life.

Taking that first step on the property ladder as a first time buyer in Liverpool can be a little daunting. Along your journey, you will have an expert mortgage advisor in Liverpool by your side to help you obtain the keys to your dream home.

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First Time Buyer Mortgage Advice in Liverpool

We will be With you Throughout the Whole Process!

Our extensive years of experience has given our team to help a plethora of first time buyers in Liverpool start their homebuying journey. Through using our expert knowledge, we are proud to provide excellent mortgage advice in Liverpool.

Our team are available 7 days a week to provide fast & friendly mortgage advice and answer any mortgage questions, particularly for first time buyers in Liverpool. We look forward to supporting you on your mortgage journey!

How much deposit do I need to apply for a mortgage?

The amount of deposit you need should be a minimum of approximately 5-10%, this will vary depending on how well your credit score is. A common drawback for young first time buyers in Liverpool is that they don’t have a strong enough credit score to begin with.

We tend to find as an experienced Mortgage Broker in Liverpool that first time buyers who have a credit score will usually have a good one. If you are in this position, it’s possible that you have access to a higher loan-to-value (%), like a 90-95% mortgage.

Despite this, there is some cases where a first time buyer in Liverpool has a lower credit score. This can limit the amount of access you would have to lower loan-to-values which means you will need to put down a much larger deposit, usually upwards of 15%. By doing this, the lender can reduce the risk by lending less to you overall.

Another factor that can vary the deposit is the price of the property you are looking to purchase. Your mortgage amount is a percentage of the property price.

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FAQ's From First Time Buyers in Liverpool

Is there anything that can help get me onto the property ladder?

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Luckily, there are other government mortgage schemes that can be helpful for those who struggle to meet the minimum requirement for a deposit required. Therefore, as a first time buyer in Liverpool, this could be an option for you!

The following are just a number of popular mortgage schemes that you may have access to;

  • Help to Buy: Equity Loan Scheme.
  • Help to Buy: Shared Ownership Scheme.
  • First Home Scheme.
  • Lifetime ISA.

These schemes will require you to meet the criteria before you can access them. Therefore, we recommend you visit the government OwnYourHome website which can provide further information regarding these schemes. Get in touch with an expert Mortgage Advisor in Liverpool who will go through each scheme with you.

Take advantage of our free initial mortgage appointment which you can book to get more first time buyer mortgage advice in Liverpool. Here at Liverpoolmoneyman, we have a responsive and friendly team who are available from early until late, 7 days a week to look into your case and help with the application. Your journey on the property ladder should not be all scary! Take that step with the help of Mortgage Advisor in Liverpool.

How much can I borrow?

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We tend to find that a first time Buyers in Liverpool gets in touch with Liverpoolmoneyman at the start of their mortgage process. The general reason for this is they want to know how much they could borrow for a mortgage.

Our mortgage calculators on our website are great for first time buyers in Liverpool looking for a rough estimate, however, this won’t factor in your financial circumstance so do keep this in mind. If you are looking for a more accurate amount, an expert Mortgage Advisor in Liverpool can help you with this.

Ready to Make an Offer

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Another benefit of having a Mortgage Broker in Liverpool, like ourselves, by your side is our support and guidance from our expert team of Mortgage Advisors when you are at the point of wanting to make an offer on the property you like.

Here at Liverpoolmoneyman, we are able to obtain your mortgage agreement in principle for you which is usually done within 24 hours of your initial appointment. Having this with you can be great when making an offer as it is likely to increase your chances of getting accepted.

You’ve Had an Offer Accepted

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Speaking to a Mortgage Advisor in Liverpool can be beneficial before making any offers. We can begin the mortgage process as soon as you as you get your offer accepted on your dream home.

If you are wanting to know if you are eligible for a mortgage and are looking to get an agreement in principle to back up your offers, get in touch with a Mortgage Advisor in Liverpool who can help you with this.

Need an Agreement in Principle (AIP)

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Generally, our team can arrange to get you a mortgage agreement in principle within 24 hours of your mortgage appointment. As mentioned, having an AIP to hand can be very helpful for making any offers because it shows the seller you are prepared to progress with your mortgage case.

Declined By Your Bank or Building Society

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It can be common for customers to get in touch with us when they have previously been declined for a mortgage by the bank. This could be for a number of reasons; however, our team are available to help you with this.

As part of our tailored service, our team are able to provide the support you need to get you on the best option for your personal and financial circumstances. Due to being an expert Mortgage Broker in Liverpool, we have exposure to a large range of mortgage lenders, with a number of these offering specialist products.

Our team are available 7 days a week to provide fast & friendly mortgage advice and answer any mortgage questions, particularly for first time buyers in Liverpool. We look forward to supporting you on your mortgage journey!

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Our Simple Mortgage Process

Free 30-Minute Mortgage Appointment

Step 1

Engaging in a conversation with a professional mortgage advisor in Liverpool holds great importance when discussing your mortgage situation.

Our committed mortgage advisor in Liverpool will conduct a thorough assessment of your income and expenses during a complimentary mortgage appointment.

Through this evaluation, we can determine the maximum borrowing capacity available to you as a first-time buyer in Liverpool.

Don't hesitate to get in touch with us to schedule your consultation; we are eager to help you achieve your mortgage goals.

We Can Search 1000s of Mortgage Deals

Step 2

At Liverpoolmoneyman, our team of experts can connect you with a wide range of lenders offering products tailored for first time buyers in Liverpool. 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.

An AIP serves as evidence to sellers that you are committed to proceeding with the purchase, enhancing your credibility as a buyer.

Submit Your Mortgage Application

Step 3

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

Throughout the mortgage process, your dedicated case manager will provide regular updates, ensuring you are well-informed at every stage.

We are here to support you throughout the journey of obtaining the keys to your new home.

Protecting You and Your Mortgage

Step 4

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

Acquiring insurance while securing a mortgage offers a vital safety net in case of unexpected events like death, disability, or job loss. Insurance products that cover mortgage payments provide reassurance that, in such circumstances, the borrower's family won't be burdened with the responsibility of paying off the mortgage.

Why choose us for mortgage advice in Liverpool?

Free Mortgage Appointment

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We understand all our customer’s day to day lives are different which is why our dedicated Mortgage Advisors work every day of the week, from early until late at night.

You can decide to either carry out your free mortgage appointment via the telephone or Microsoft Teams video call.

1000s of Deals

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We know that as a First Time Buyer in Liverpool, you want a deal that is perfect for your situation. Our advisors can search through 1000’s of mortgage deals with an aim to find you the deal that is appropriate for your circumstance. As well as this, we will by your side to provide any support throughout the process.

Our goal is to make your mortgage experience as stress-free as possible. Your dedicated case manager will keep you updated in the process keeping any technical jargon to a minimum.

Our Service

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Through helping many First Time Buyers in Liverpool on their mortgage journey, our Mortgage Advisors in Liverpool have built up valuable experience in order to help many more First Time Buyers taking that first step on the property ladder.

If you are thinking that your situation is too complex, however, our 20 plus years of experience providing Mortgage Advice in Liverpool has provided us with a range of mortgage circumstances. Therefore, you may find that your situation is one our team has encountered before.

7 days a Week

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The journey of obtaining a mortgage can have its obstacles, which is why we are available to answer any questions you may have. All our customers are treated as an isolated case which is part of the personalised service we provide.

Contact us to speak to a member of our team who will get you booked in for your free mortgage appointment with an expert mortgage advisor today.

Malcolm and Amy Davidson - Mortgage Advice in Liverpool

We Search 1000s of First Time Buyer Mortgages in Liverpool

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Common First Time Buyer Mortgage Scenarios

How does the process work?

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As your mortgage broker in Liverpool, our first job is to carry out a Fact Find on you to get a bigger picture of your personal and financial situation, so that we can recommend the most suitable mortgage for you. In order to obtain an Agreement in Principle, you will also need to have a credit check performed on you. Once you have provided all the relevant evidential documentation and a valuation of the property has been undertaken, a formal mortgage offer can be issued.

How does the free initial mortgage consultation in Liverpool work?

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Your free mortgage consultation with Liverpoolmoneyman will last around 30 mins. After your details have been taken, a Mortgage Advisor in Liverpool will then search through thousands of mortgage deals to find a perfect matching deal for you. Once we recommend the deal, you can decide whether to proceed with us or not, it’s completely up to you!

When should I obtain an Agreement in Principle in Liverpool?

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We always recommend that you obtain an Agreement in Principle before you start viewing properties in Liverpool, as they can potentially put you in front of other buyers who don’t have one. Lenders will like the fact that you have prepared before making an offer.

How long does an Agreement in Principle last?

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An Agreement in Principle typically remains valid for between 30 and 90 days, but this can change depending on your lender. If your Agreement in Principle expires it can always be refreshed. A Mortgage Broker in Liverpool like us can usually get one sorted for you within 24 hours within your application.

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

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The minimum deposit when buying a house in Liverpool with high street lenders is typically 5%. You will rarely find lenders that will accept a minimum of less than 5%. This minimum can be higher if you have had bad credit in the past.

Can I get a mortgage in Liverpool with previous credit problems?

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It is possible but it can be a bit tricky though. When you have had previous credit problems your minimum deposit that is required could rise, we have seen it at 15% before. Having a Specialist Mortgage Broker in Liverpool could really help you get back on track in situations like these.

What documents will I need to send?

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If you’re an employee, you will usually have to supply three payslips in order to prove your income. If you are Self Employed in Liverpool its normally the latest 2 years’ accounts. You will also need to produce proof of ID, address and 3 months’ bank statements.

How long does the process take?

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Our free initial mortgage consultation can last up to 30 mins. As an experienced Mortgage Broker in Liverpool, after we have all of your information we can get you an Agreement in Principle within 24 hours or your phone call. On average, a formal mortgage offer takes about three weeks.

Mortgage Guides

Liverpoolmoneyman.com & Liverpoolmoneyman 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 www.register.fca.org.uk

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