Usually, a first time buyer in Norwich will put down a minimum deposit of 5%. It's common for first time buyers in Norwich to avoid a property chain which is where a buy may be unable to complete a sale on their until the one they're buying has completed, etc. This can be a huge advantage to you when it comes to negotiating with a seller on the price of a property you want to buy.Get Started
Having this with you shows the amount maximum mortgage amount available to you as well as provide you with confidence, as a first time buyer in Norwich, that you are ready to proceed Through our time as a mortgage broker in Norwich, we have supported many first time buyers on their journey towards achieving their mortgage goals. Book your free mortgage appointment online today to see how a mortgage advisor in Norwich, can help you with your home owning dreams.Apply Now
Do I count as a first time buyer in Norwich?
A first time buyer in Norwich is an individual who has never purchased a home before. Depending on the mortgage lender, this also applies to those who have previously owned a property but haven't been in the market for a long time. For those who are not classed as a first time buyer, but are living with a partner who can qualify as one, do have the option to jointly purchase a property under that classification.
What do I need to buy my first home in Norwich?
To purchase your first home, you will need to start by having a sufficient deposit and qualify for a mortgage. This gives you the chance to finance the rest of your purchase. As well as this, you will need to hire a conveyancing solicitor to sort out the legal proceedings that are involved when buying a home. Our team are here to provide support throughout the mortgage journey. As an expert mortgage broker in Norwich, we will be with you from the every start of checking eligibility and find you the best product all the way to obtaining the keys to your new home.
How much deposit do you need for a first time buyer mortgage in Norwich?
This is a question our team commonly get asked. The deposit you generally need is a minimum of 5% which can be from your savings, a gift or a combination of the two. A point that is good to know is, that putting down a larger deposit like 10-20% of the purchase price will open you up to more mortgage options as well as provide you with better deals.
Is it better to get a mortgage from a bank or a mortgage broker in Norwich?
As a mortgage broker in Norwich, we can find you the most suitable mortgage product for your circumstances by searching through 1000's of mortgage deals. This is what differentiates us to a bank as they will be limited to their own products. There was a time when the bank was a more popular choice, this was because the local manager understood your finances thoroughly and would take this into account when offering mortgage deals. Now, it is all about finding the cheapest deal. Despite this option possibly involving a fee, getting mortgage advice in Norwich, can usually be a quicker process and be a lot less stressful with more choices. Our team have access to a large panel of mortgage lenders, with some offering specialist products to cover a range of personal circumstances.
Are there any schemes to help first time buyers in Norwich get onto the property ladder?
The government have introduced a range of schemes that are designed to help first time buyers in Norwich get onto the property ladder. The options that are seen to be the most popular is the Help to Buy Equity Loan Scheme which provides a boost to your deposit & the Right to Buy Scheme (gives you the option to purchase your rental property).
We provide a service that works around your busy work and family life in Norwich. We work around you.
We provide all our customers with a free mortgage appointment that has no upfront fees. You pay us upon mortgage success in Norwich.
As part of our personal service, we provide you with dedicated experts including a mortgage advisor in Norwich to keep you up to date.
We understand that stepping into the mortgage world for the first time can be daunting. Our team will provide you with the support to obtain your first mortgage in Norwich.
We'll recommend appropriate insurance products, ensuring you can stay at home in Norwich, should you become seriously ill or unable to work.
As a mortgage broker in Norwich, we can find the cheapest deal for you, saving both your time and your money.
Our experience has allowed us to deal with a variety of cases, therefore, it's very likely that your dedicated mortgage advisor in Norwich has experienced this and knows the best solution.
When a customer contacts us for mortgage advice in Norwich, our team will help them overcome any mortgage hurdles like property survey and valuation problems.
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My initial interaction with Faye from UK money man has been really personable and I felt like she understood my needs very well. I’m hoping they can help deliver what I need and I didn’t feel any pressure to have to go further with my...
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