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 Rating269 Reviews
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
Lee
Absolutely brilliant both Matt & Stacey. Really clear with us what our options were. Will use again when i need to find another mortgage.
Ryan
Chloe and Tom were very helpful and informative throughout and very knowledgeable we would recommend UK moneyman to any first time buyers
Michael
I can’t thank or recommend these guys enough. Highly professional, helpful and friendly from the outset - very knowledgeable and great customer service.
Edward
Great company to work with, very helpful and always prompt to answer any queries.
Michael
Great service! Quick and trustworthy!
Jennifer
Excellent service from both Leo and Meghan who we feel went above and beyond to help us get our first mortgage, even when faced with some very unforeseen changes! They made the whole process extremely easy and understandable. We have already...
Keyuri
Very helpful
Shaun
Excellent service from the team, were very informative throughout the process even when we had to swap the house we were purchasing resulting in a new mortgage application.
Ian
Excellent service from Wayne and Stacey. Wayne took time to explain everything and reran mortgage calc a number of times as my property search went on which was much appreciated. Stacey was also extremely helpful, informative and quick to respond to...
Liam
Incredibly helpful from start to finish, gave me all the information I needed and made the whole process much easier
Mark
Megan and Wayne have been great throughout. Both really easy to work with and on top of things at every step of the process. Thanks a lot.
Anonymous
Excellent service by Malcolm, Paula & Meghan. We completed our purchase last week in what was supposed to be a very difficult case due to my bad credit and limited trading history as a director of LTD company. UKmoneyman dug out a lender that...
Jasmine
Very good service received. Wayne is very knowledgeable and helpful especially with me been a first time buyer. Also very accommodating with timings and I was able to have chats later on a night to fit my schedule. Very supportive all the way...
Joseph
So far so good ! The first point of contact was lovely, made me feel at ease and very knowledgeable.
Callum
Absolutely fantastic service from the start, in helping getting a mortgage. Charlie always replied to my messages as quickly as possible and was very clear, thorough and calming through the whole process, cutting out a lot of worries had I not used...
Jonathan
Great help from the team, helped find exactly what we were after, and was an easy straight forward process. Being self employed it can be tricky however there were no problems with the help and advice we received.
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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
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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
