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First Time Buyers in Scunthorpe

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Planning to make your property ladder debut in Scunthorpe? Check out the various affordable options.

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First Time Buyer

Buying your first home can be a little bit daunting, but we’re here to help with all the challenges of finding your perfect place.

Remortgages

Looking for a better mortgage deal? Or to release some of the equity in your home? The process is often not as easy as it first appears.

Moving Home

Thinking of selling your existing property and moving to a new home? It’s important that you try and budget accurately. Find out why.

Buy-to-Let

This can be one of the popular mortgage options available for those wishing to invest in the residential & rental property.

First time buyers in Scunthorpe

Wherever you are in the country, buying your first home is a balancing act that needs to be calculated. This means considering how much cash you have, what you earn, and your monthly outgoings.

But figuring out the finer details isn’t always straightforward.

Whether you’re looking to buy or simply assessing house prices in your area, Mortgages RM has a wealth of information at your disposal. With our comprehensive database and Fee-Free Mortgage Advisor, Stephen Kerrigan, we can narrow down the search for you with ease.

How have we calculated it?

First Time Buyers in Scunthorpe

We looked at the average price of two-to-three-bedroom homes as they are the most common type of property purchase for first-time buyers in all postcodes.

We analyzed the average mortgage advance from lenders in the region and used it to determine both the deposit requirement and borrow-to-income limit.

When considering buying a home, one of your top priorities should be to put as big down payment on the property as you can. This will allow you better access to mortgage rates and loans, and lower out-of-pocket costs in the end.

To reduce the potential cost of your loan you should try to put down a 10% deposit at a minimum. You can do this by saving overtime or getting family members to contribute money towards it.

One of the most popular methods for getting your first home is our government’s housing schemes.

Help to Buy is a fantastic way of helping people, where the government lends up to 20% of the purchase price interest-free for five years.

With a good credit score and manageable outgoings, banks will lend up to four times your monthly income. As a couple, combining your salaries can increase affordability.

By understanding the amount you can borrow and what you can put towards your deposit, then you will be able to assess how much money you leaves for a home. Once that is calculated, a search for properties is underway.

How can I afford a home as a first-time buyer?

First Time Buyers in Scunthorpe

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First Time Buyers in Scunthorpe

Our mortgage advisors have access to thousands of first time buyers deals, exclusive MortgagesRM offers included. We don’t just find you a cheap deal – we’ll find the right deal that suits your needs and even accounts for any surprises in the future.

Stephen Kerrigan, your mortgage advisor will discuss the national Help to Buy scheme. This is for first-time homebuyers that are purchasing a new build property. It can help you buy an even better home than you initially thought possible!

Stephen Kerrigan will help you find housing loans financed by the UK government for as low as 5% down and allow homeowners to retain 100% ownership of a property.

MortgagesRM’s expert advisors and exclusive deals with hundreds of lenders make getting a mortgage remarkably easy.

MortgagesRM guarantees that you'll have the best first-time buyers service without needing to pay a fee.

First Time Buyers in Scunthorpe

Don’t Stress  Moving Home!

It is said that moving to a new house is one of the most stressful things that you can ever experience. MortgagesRM Fee Free Mortgage Advisor will take some of the stress out of your mortgage application so that it runs smoothly. We’ll provide help and guidance throughout the whole process.

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Weekdays: 9 am – 5:30pm on weekdays

Saturday: 9am-5pm  

Evenings: After 6pm on request

Mortgage Broker in Scunthorpe

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Frequently Asked Questions

A minimum deposit is required for purchasing a property in Scunthorpe. High street lenders typically require a 5% deposit. A higher deposit may be required if you have had credit problems in the past.

Yes, however, you must submit at least one year’s worth of accounts. To compute the maximum mortgage, most lenders in Scunthorpe use your salary and dividend, while others may use your net profit.

Second mortgages are possible. This includes debt consolidation and home improvements. A second mortgage can also be obtained on a second property, but only if it is for the owner’s personal use, a family member’s use, a holiday home or a rental property.

It will take about an hour for our free mortgage consultation in Scunthorpe. Upon completion of your consultation, we can arrange an agreement in principle for you in about 24 hours. A formal offer takes about three weeks.

You must provide three payslips to prove your income if you are an employee. You will need to supply the latest 2 years’ accounts if you are self-employed in Sheffield. Additionally, you must provide proof of identity, address, and three months of bank statements.

An agreement in principle typically lasts between 30 and 90 days, but it can vary based on your lender. It is quite simple to renew an agreement in principle if it expires.

You can do it, but it will be harder. By putting down a higher deposit, perhaps 10% or 15% of the purchase price, you can demonstrate that you can afford a mortgage.

First Time Buyers in Scunthorpe

Scunthorpe is a large industrial town in the unitary authority of North Lincolnshire in Lincolnshire, England of which it is the main administrative centre. Scunthorpe had an estimated total population of 82,334 in 2016.

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