The minimum deposit that a first time buyer in Oxford would be required to put down is typically 5%. First time buyers in Oxford typically avoid a property chain (where a buyer may be unable to complete a sale on their home until the one they're buying has completed, etc.) This can be a really useful bargaining tool for negotiating with a seller on the price of a property you are looking to buy.
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This allows for you to have confirmation on the maximum mortgage available to you and also provide you with confidence as a first time buyer in Oxford, that you are in a position to proceed. As an expert mortgage broker in Oxford, we have been able to help and support 1000's of first time buyers in getting the keys to their dream home. Book your free mortgage appointment online today to see how a mortgage advisor in Oxford can help you with your home-owning dreams.
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If you have never purchased a home before, you will be a first time buyer in Oxford. With some mortgage lenders this also extends to those who have previously owned a property but perhaps haven't been in the market for a while. If you are not classed as a first time buyer, but you happen to be living with a partner who qualifies as such, you are often able to jointly purchase a property under that classification.
In order for you to purchase your first home, you will first need to have saved a sufficient deposit and qualify for a mortgage. Doing so will allow you to finance the rest of your purchase. You will also need to hire a conveyancing solicitor to carry out the legal proceedings that come with buying a home. As a mortgage broker in Oxford, we are here to help you every step of your mortgage journey. We'll be there from checking your eligibility and finding the best deal, right through until you get the keys to your new home.
We tend to get this question more than most. The answer is typically 5% will be the minimum required, which can be from your savings, a gift, or a combination of the two. It is important to note, however, that putting down a deposit larger, let's say somewhere around 10-20% of the purchase price, will widen your mortgage options and open you up to better deals.
As a mortgage broker in Oxford, our advisors can search through 1000s of deals to find the best mortgage deal for your circumstances. Conversely to this, a bank will be limited to their own products. The bank was once a more popular choice, as the local manager knew your finances inside and out and would bear this in mind when offering mortgage products. This tends not to be the case anymore, and is all about finding the cheapest deal. By getting mortgage advice in Oxford, whilst it may incur a fee, can often be a much quicker process, with a lot less stress and with much more choice. Here at UK Moneyman, we have a large panel of mortgage lenders, allowing us to tailor your mortgage to your personal situation.
There have been a lot of different government schemes introduced as a means of helping more first time buyers in Oxford to find their footing on the property ladder. The most popular options that we see first time buyers in Oxford making use of, have been the Help to Buy Equity Loan Scheme (providing a boost to your deposit) & the Right to Buy Scheme (allowing you to purchase your rental property).
We're flexible around your busy work and family life in Oxford, we'll be there when you need us.
No upfront fees payable, you only need to pay us upon mortgage success in Oxford!
Whether it's a mortgage administrator or a mortgage advisor in Oxford, you'll always know who you are dealing with.
Getting your first mortgage in Oxford can be a intimidating experience. We’ll hold your hand all throughout your mortgage process.
We'll recommend appropriate insurance products, ensuring you can stay at home in Oxford, should you become seriously ill or unable to work.
As a mortgage broker in Oxford, we can find the cheapest deal for you, saving both your time and your money.
There isn't a situation we haven't come across before, your mortgage advisor in Oxford will fully understand your needs.
When you get in touch for mortgage advice in Oxford, we'll help you with any mortgage hurdles that you face along the way, such as property survey and valuation problems.
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4.97 Rating285 Reviews
Hannah
The whole team at UK Moneyman have been so friendly and helpful, whilst also providing an excellent service and securing me a mortgage offer really quickly. Even when there were questions and changes, they went over and above to help and always came...
Sarah
Fantastic service from Tom Bowes
Brooke
Excellent service, great communication & highly professional
Khristopher
Malcolm and Meghan did a great job with my application which due to a chain breaking down had to be done for two different properties, was kept informed throughout and they made me aware of changes in the market i didn't know about. Would...
Hilary
Matt and Wendy worked tirelessly and creatively to reach a great mortgage outcome for me in what was a less than straightforward journey. The commitment and advocacy was fist class and communication, always excellent. Matt really earned his broker...
Nina
I'm very happy with the services UK Moneyman have been providing during my buying process so far. I'm a first-time buyer so it was very important to me to have a mortgage broker who could answer all my questions in a timely and...
Stuart
Great team who works to get you exactly what you need, they made the whole process smooth and painless, so I would highly recommend them.
Danielle
I honestly couldn't have asked for a better service with UK Moneyman! I have been working with Charlie and Wendy! They have been SO helpful throughout the whole process and so supportive, never a hassle for them when I've been bombarding...
Clair
Informative, friendly, helpful and efficient service.
Katie
Really glad I went with UK Moneyman for my first mortgage, explained everything to me so well and was always on hand when I needed them as I work long hours at weekdays so having appointments on the weekends was so helpful for me, would definitely...
Natalie
Tom and Chloe were super helpful with our first time mortgage. We had a couple of properties fall through but Tom was there to help and guided us through the whole process.
paul
I think anyone would have difficulty finding a more helpful and friendly Financial Advisor. We used them to find a suitable later life mortgage and their effort and persistence in the face of some difficulties (caused by our particular...
Anonymous
Good advice and a professional hand both made the process seem effortless. Full marks for a service and result!!
Christopher
Wayne and Paula have been very helpful in helping me purchase my first house would highly recommend them to anyone wanting a mortgage advisor! Wayne was also very flexible with time as I have very odd working hours and worked out a time for phone...
Carol
Excellent service, Tom and Lynsey were responsive and extremely helpful including in resolving issues of transferring the offer to another property when the seller of the first property I was buying pulled out.
Marco
It's the 3rd time I've dealt with the team at UK Moneyman, as before they have been informative, punctual, detailed and a pleasure to deal with. I couldn't reccomend them more highly.
Suzanna
Excellent communication from start to finish. Highly recommend.
Rasheda
Very friendly and provided all the information I needed.
Pauline
Very pleased with Allen’s professionalism , he was able to answer all my questions to my satisfaction
Paul
Excellent experience all around, used for two mortgages and will use again
Read our 285 Reviews
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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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
