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First Time Buyer Mortgage Advice in Newcastle

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Are you a First Time Buyer in Newcastle? If so, we can help you along your journey to getting the keys to your dream first home. It’s not uncommon to feel a little overwhelmed and daunted by the whole home buying process, but rest assured, our team is here to put your mind at rest and take as much of the stress away as possible.

 

As a Mortgage Broker in Newcastle, we have helped many First Time Buyers achieve their mortgage goals. It’s not just about finding you the best mortgage, our Mortgage Advisors in Newcastle will hold your hand right through the process, answering any questions that you may have along the way.

Can I Get a First Time Buyer Mortgage in Newcastle?

If you are looking to purchase your first home, but are unsure of your eligibility for a mortgage. Then you would benefit from speaking with a Mortgage Advisor in Newcastle.

 

When you are ready to apply for a mortgage, the lender will look at your affordability. They will assess your annual salary and any other income you have, along with your outgoings. On top of this, they will check your credit history and make sure that you are managing your finances. These factors will contribute to how much you can borrow.

 

Your deposit will also have an impact on the mortgages that are available to you.

 

As a Mortgage Broker in Newcastle, we have extensive knowledge of lenders’ various criteria. With this knowledge, we are then able to look at your income, expenditure, and credit history to recommend the most suitable mortgage.

Are There Any Schemes to Help First Time Buyers in Newcastle?

Currently, there are various government schemes to help First Time Buyers onto the property ladder. Including Help to Buy Equity Loan, Lifetime ISAs, and the Right to Buy Scheme. You can find further information on these schemes by navigating to the guides section of our website.

 

Our Mortgage Advisors are familiar with all the current government schemes available and will be able to help answer any questions that you may have regarding these.

We search 1000s of mortgage deals across a large number of lenders, including:

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Mortgage Advice for First Time Buyers

Throughout our many years of providing expert, personalised mortgage advice in Newcastle, we have helped a lot of First Time Buyers take their initial step onto the property ladder.

Below we have put together an outline of the most popular scenarios we regularly come across when helping First Time Buyers.

How much can I borrow?

Often First Time Buyers in Newcastle who are early in the process will just want to get an idea about the maximum amount they could borrow. We do have calculators available on our website but please remember these are only approximate figures. Our Mortgage Advisors in Newcastle will be able to help you get a more accurate maximum loan amount.

Ready to Make an Offer

If you have found your first home in Newcastle and would like to make an offer, but need assistance in doing so, then our Mortgage Advice team will be happy to help assist you with this. We can also look at obtaining your mortgage agreement in principle (AIP), which will give your offer the best chance of being accepted.

You’ve Had an Offer Accepted

If you have had an offer accepted on a property, we can help get the process started on your full mortgage application. We would always recommend speaking to a mortgage broker in Newcastle prior to making any offers. This way we can first off check that you are eligible for a mortgage, and secondly generate your AIP to back up any offers you make.

Need an Agreement in Principle (AIP)

Here at Newcastlemoneyman, we can usually obtain you a mortgage agreement in principle within 24 hours. As mentioned above, it is always a good idea to have an AIP prior to making any offers. This shows the vendor that you are serious and in a position to proceed.

Declined by your Bank or Building Society

If you have already approached your bank for a mortgage, but have been declined, there is a possibility that we can still help you. There are various reasons as to why your bank may have declined your mortgage application. As a mortgage broker in Newcastle, we work with a number of lenders some of which offer specialist products. We can look at your individual circumstances and advise on the correct path forward.

 

If you are looking for First Time Buyer Mortgage Advice in Newcastle, please don’t hesitate to contact us. We are available 7 days till late and will be happy to answer all of your questions. We look forward to speaking with you.

Why choose us to help you buy your first home in Newcastle?

We have a team of Mortgage Advisors in Newcastle who have helped many first time buyers onto the property ladder in Newcastle.

 

Our Mortgage Advisor work 7 days a week until late, making sure that we have availability at a time that suits your schedule. All our customers receive a free mortgage consultation, usually carried out over the telephone or via a video call on Microsoft Teams.

 

Concerned that your situation is complex? Rest assured that with over 20 years of experience offering Mortgage Advice in Newcastle, there is rarely a mortgage scenario that we have not come across.

 

We work for you and have your sole interest at heart, we have no vested interests with any other organisations such as Banks, Estate Agents, or Builders.

 

We can search through 1000’s of first time buyer mortgages to find you the most suitable deal for your circumstances. It’s not just about finding you the best mortgage. We will be on hand throughout the whole process, right until you get the keys! Ready to answer any questions that you may have.

 

As a mortgage broker in Newcastle, we will try to take as much stress away as possible. Your dedicated case handler will keep you informed every step of the way, making sure you understand exactly what is happening, keeping the technical jargon to a minimum.

 

Contact us now to book your free mortgage consultation, we look forward to helping you achieve your mortgage goals.

What our customers say

Common mortgage
questions

Your free mortgage consultation in Newcastle will last approximately about one hour. We will then recommend a mortgage for you, where you have no obligation for you to proceed and then it is your choice whether or not you wish to proceed with the mortgage.

As your Mortgage broker in Newcastle, we will carry out a Fact Find with you to establish your personal & financial needs before we recommend the most suitable mortgage for your circumstances. A credit check will then be required for you to obtain an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, you can then be issued a formal mortgage offer.

To avoid possible disappointment, we would highly suggest that you obtain an Agreement in Principle before you begin viewing a potential new home in Newcastle. At the very latest you should try to obtain one prior to making any offers to help with your bargaining position.

The standard for how long an Agreement in Principle will last is between 30 and 90 days, depending on the lender used. If your Agreement in Principle expires it can be easily refreshed with the help of your advisor.

You may have the option to get a second mortgage on your home in Newcastle for something like debt consolidation or home improvements. It may also be possible for you to take out a mortgage on a second property if you’re looking to potentially use it for yourself, a family member, a holiday home or a Buy-to-Let. If you require the help of a Specialist Mortgage Advisor in Newcastle, we are more than happy to have a chat about your options for a second mortgage.

The minimum deposit that will be required when purchasing a house in Newcastle with High Street Lenders is usually 5%. This, however, can be higher if you have had prior credit issues.

If you have had credit problems you may still have some options to get a mortgage but this require extra steps, such as being asked to put down a higher deposit than usual, potentially 15% of the property purchase price. If you are having difficulty in trying to obtain a mortgage because of past credit problems, please feel free to get in touch with your Mortgage Broker in Newcastle and we will see how we are able to help!

Once you have submitted at least one year’s accounts, you will be able to begin your mortgage process in Newcastle. Most lenders will use a sum of salary plus dividend to calculate the maximum mortgage, whereas others are known to use your net profit.

You’ll find that the lenders will usually want to see three payslips from an employee to prove their income and the latest 2 years’ accounts for Self-Employed applicants. You will also need to provide the lender with proof of ID, address and 3 months’ bank statements before they will accept you for a mortgage in Newcastle.

Our free consultation will usually last around an hour or so. Our advisors are able to turn round an agreement in principle within 24 hours of your appointment. A formal mortgage offer will on average take about three weeks. Before you know it you will have your mortgage secured in Newcastle.

We make it so easy!
Our 4 step process

1. Free Mortgage Consultation

An initial discussion with your Mortgage Advisor in Newcastle, taking some details about your situation and how we will proceed.

2. Mortgage Search & AIP

After your initial consultation, we will go and search 1000’s of first time buyer deals. If you're happy with our recommendation we will go ahead and get your mortgage agreed in principle (AIP).

3. Find Your Dream First Home

Armed with your AIP, it's time find your first home in Newcastle and then make an offer on the property you've set your heart on.

4. Offer Accepted

Once your offer has been accepted. It is back to your Mortgage Broker in Newcastle to carry out all the paperwork and submit your full application. We'll be by your side right through to getting the 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

Newcastlemoneyman.com & Newcastlemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

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Newcastlemoneyman – Clavering House, 1 Clavering Place, Newcastle Upon Tyne, NE1 3NG.

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