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First Time Buyer Mortgage Advice in Derby

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7 days a week, 8am - 10pm

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First Time Buyer Mortgage Advice in Derby

Discover your borrowing potential and move closer to securing your dream home as a first time buyer in Derby.

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Looking at Getting a First Time Buyer Mortgage in Derby?

As a first time buyer in Derby, taking a step into the mortgage world can be a little daunting which is understandable with mortgages being a big financial commitment. As a mortgage advisor in Derby, we have helped many First Time Buyers achieve their mortgage goal. Our mortgage advisors do their best to make the process as stress-free as possible.

We believe the most important part of obtaining a mortgage is the journey, looking at how you got there and what happens next. Our goal is to make the process straightforward and keep you constantly in the loop. A mortgage advisor in Derby can provide a rough estimate of how much you can borrow.

We can also look at what your mortgage payments will be, which can be helpful if you are first time buyer in Derby wanting to know your monthly outgoings.

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First Time Buyer Mortgage Advice in Derby

We will be With you Throughout the Whole Process!

Having over 20 years of working experience in the mortgage industry to our name, our hard-working team of mortgage broker in Derby has dealt with many first time buyers in Derby and has given them the boost they need to get onto the property ladder.

Whatever the circumstance, all customers will have the opportunity to benefit from a free initial mortgage appointment. If you are interested in discussing the potential mortgage options that are available to you, book online today and receive tailored mortgage advice in Derby.

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

If you’re struggling to gather enough funds for the minimum deposit required to buy a home, there are government mortgage schemes available to assist you. These schemes were introduced to aid first-time buyers in getting on the property ladder.

Examples of these schemes are the Help to Buy Shared Ownership Scheme, Mortgage Guarantee Scheme, and the First Home Scheme, among others. You must meet the eligibility criteria for each scheme. This is where a seasoned mortgage broker in Derby can offer assistance.

To obtain further guidance on purchasing your first home in Derby, and to explore any relevant government mortgage schemes, schedule a free mortgage appointment with a mortgage advisor in Derby today.

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FAQ's From First Time Buyers in Derby

What are the costs involved with first time buyer mortgages in Derby?

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Apart from the deposit you’ve saved, there are other expenses to keep in mind, such as conveyancing and solicitor fees, property surveys, broker charges, and mortgage arrangement fees. Additionally, you might need to factor in stamp duty costs and insurance premiums, such as home, contents, or financial protection insurance.

During your free initial mortgage appointment, your designated mortgage advisor in Derby can discuss these additional costs in more detail and address any concerns you may have.

What do I need to buy my first home in Derby?

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In order to qualify for a first time buyer mortgage in Derby, you must have saved at least a 5% deposit or more for your initial home purchase. Additionally, you’ll need to engage a conveyancing solicitor to oversee the legal aspects of the property acquisition process.

As a mortgage broker in Derby who specialises in helping first-time buyers in Derby, we are dedicated to providing comprehensive support every step of the way. Our mortgage advisors in Derby are available to help you assess your eligibility and secure the most suitable first-time buyer mortgage available in Derby.

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

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There are several first time buyer mortgages available in Derby, each with its own unique features. One of the most popular is the fixed-rate mortgage, which locks in your interest rate for an extended period, shielding you from any potential interest rate increases.

Another option is the tracker mortgage, where your interest rate fluctuates in response to changes in the Bank of England base rate. Discounted variable rates are a more affordable alternative, but if a lender’s standard variable rate changes, so will your interest rate.

Lastly, an offset mortgage comes with a flexible savings account that is interest-free, and the balance in your savings account is used to offset the mortgage balance. The larger your savings, the lower your mortgage interest rate will be.

To learn more about the different types of mortgages available and determine which one suits your needs, book a free mortgage appointment online and speak with one of our experienced mortgage advisors in Derby today.

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Our Simple Mortgage Process

Free 30-Minute Mortgage Appointment

Step 1

It is essential to speak with a professional mortgage advisor in Derby regarding your financial situation.

When you schedule your free mortgage appointment, our assigned mortgage advisor in Derby will assess your income and expenses to determine the maximum loan amount available to you as a first time buyer in Derby.

Contact us now to book your free mortgage appointment, and we will be thrilled to assist you in achieving your mortgage objectives.

We Can Search 1000s of Mortgage Deals

Step 2

At Derbymoneyman, our team has access to a wide selection of lenders offering specialised products tailored for first time buyers in Derby.

These offerings can pave the way for your journey towards homeownership. Following your consultation, we will promptly secure your mortgage agreement in principle, typically processing it within 24 hours.

An agreement in principle serves as proof to sellers that you are genuinely committed to moving forward.

Submit Your Mortgage Application

Step 3

Once your property offer is approved, your dedicated mortgage advisor in Derby will handle the submission of your mortgage application and arrange any additional documentation required by the lender.

Throughout the mortgage process, your case manager will keep you informed, and we will support you in 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 Derby, our team will assist you in obtaining insurance coverage to provide financial protection for you and your loved ones.

Having insurance while obtaining a mortgage acts as a safety net in unforeseen circumstances such as death, disability, or job loss. Insurance products that cover mortgage payments ensure that the borrower's family is not burdened with the responsibility of repaying the mortgage.

Reasons to Choose us

Free Mortgage Appointment

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We love helping first time buyers as a caring mortgage broker in Derby. Your dedicated mortgage advisor in Derby will be by your side throughout the process from your initial call all the way to obtaining the keys to your new home.

They will be there to answer any questions you may have about your mortgage keeping the technical jargon to a minimum.

1000s of Deals

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The benefit of approaching a mortgage broker in Derby compared to a high street bank is that we have access to thousands of mortgage products, finding you the one that is appropriate for your circumstances.

Our Service

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Check out our genuine customer review, as they show how our dedication and hard work has helped many customers on their mortgage journey. The service we provide and your satisfaction with our service means a lot to us.

7 days a Week

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We are here seven days a week to relieve any stress and solve any hurdles we encounter along the way. It’s rewarding when we find a property that you like and obtain the keys!

Malcolm and Amy Davidson - Mortgage Advice in Derby

We Search 1000s of First Time Buyer Mortgages in Derby

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Common First Time Buyer Mortgage Scenarios

How much can you borrow for a mortgage in Derby?

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It all comes down to your credit score. As a general rule, we usually find that first time buyers have a good credit score. With this, you are opening yourself up to better mortgage rates and put down a lower deposit, this could be as low as 5% of the purchase price.

Whereas a first time buyer with a quite low credit score may only have access to a lot more higher rates and will need to deposit much higher. This could range between 10-15%.

The deposit amount will also depend on the type of property you’re looking to buy. For example, if your property is more expensive, you may need to put down a larger deposit.

The government mortgage schemes can be a helpful way of obtaining a mortgage if you are struggling to reach the minimum deposit that is required. The schemes were introduced to help first time buyers get on the property ladder and succeed in their home owning goals.

The government currently offer schemes including the Help to Buy Equity Loan, Shared Ownership, Mortgage Guarantee Scheme, the First Home Scheme, along with many other. All of these schemes were introduced to help home buyers to get onto the property ladder in some way. A Mortgage Broker in Derby can help with the eligibility side as you still need to be eligible for them.

If you are a first time buyer wanting to learn more about the schemes available seeking mortgage advice in Derby, book online for you free mortgage appointment with one of our Mortgage Advisors in Derby. The appointment can help you understand if you are eligible and apply for your mortgage.

Ready to make an offer on a property?

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When you have seen a property you are interested in it’s now time to look into getting an Agreement in Principle which is also known as a Decision in Principle, Mortgage in Principle, DIP or AIP.

With an Agreement in Principle by your side shows that you have passed the lenders initial credit check.

Furthermore, having this document with you can demonstrate the seller that you’re in a big serious position to progress if they accept your offer, giving you a boost in front of other buyers.

Normally, our hard working mortgage advice team can get an Agreement in Principle within 24 hours of your initial appointment.

Has your offer already been accepted?

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Firstly, you need to get in touch with your dedicated Mortgage Broker in Derby to inform them. From this, we will then proceed with your mortgage application and deal with all the paperwork on your behalf.

Don’t worry about any hurdles that could potentially arise, your experienced mortgage advisor in Derby would have encountered something similar in the past and can help with overcoming this obstacle.

Are you looking at geeting an Agreement in Principle

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Having an AIP under your belt is essential in the mortgage process. This can be helpful when it comes to making an offer on the property that you’re looking to purchase. Normally, we can an AIP sorted for you within 24 hours of your enquiry.

Have you been declined by your Bank or Building Society?

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We do come across customers who are First Time Buyers in Derby who have approached the bank and have unfortunately been turned away for a variety of different reasons.

If you come across any issues during your process, our team of specialist advisors in Derby will work hard to find a solution.

Get in touch to book yourself in for a free mortgage consultation with a more tailored service.

Mortgage Guides & Derbymoneyman 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

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