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First Time Buyer Mortgage Advice in Lincoln

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Are you a First Time Buyer in Lincoln looking to get onto the property ladder? If so, we are here to guide you along and help you achieve your mortgage goals, sending you well on your way to receiving the keys to your dream home.

 

The home buying process can seem a little unpredictable and perhaps even at times a little daunting. It can feel like that for many mortgage applicants but rest assured, our team will work hard to put your mind at ease and take away as much stress as possible.

 

As a Mortgage Broker in Lincoln, we have helped many First Time Buyers achieve their mortgage goals. We have onboard a team of experienced Mortgage Advisors in Lincoln who will work patiently and effectively alongside you throughout the entire process, answering any questions you may come across along the way.

Can I Get a First Time Buyer Mortgage in Lincoln?

Are you looking to get onto the property ladder but are unsure if you are eligible for a mortgage? Then speaking to a Mortgage Advisor in Lincoln will be beneficial, as it will save you a lot of time and effort in the long run.

 

When you are ready to make a mortgage application, your dedicated advisor will match you up with the appropriate mortgage lender.

 

It’s an advisors job to look at your affordability and match you with the correct lender. They will assess your annual salary and any other income you bring in, make sure you are sensible with your outgoings, check your credit history, and make sure that you are managing your finances. These factors will all contribute to how much you can borrow for a mortgage.

 

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

 

As a Mortgage Broker in Lincoln, we have a vast panel of lenders and knowledge of their various criteria. We can look at your income, expenditure, and credit history to recommend the most suitable mortgage to match your circumstances with this knowledge.

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

You’ll be happy to know that various government schemes are there to help First Time Buyers get onto the property ladder. Including Help to Buy Equity Loan, Lifetime ISAs, and the Right to Buy Scheme. For further information on these schemes, check out our guides section of our website.

 

Our Mortgage Advisors in Lincoln are familiar with all the up to date government schemes available and will help answer any questions you may have regarding these.

 

How does it work?Get a quote nowMeet your advisor

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

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Mortgage Advice for First Time Buyers

With over 20 years of experience offering Mortgage Advice in Lincoln, we have helped many First Time Buyers get onto the property ladder. Below, we have outlined the most popular scenarios we regularly come across when helping First Time Buyers.

How much can I borrow?

Often First Time Buyers in Lincoln who have just started the process will want an indication of the maximum amount they could borrow. We do provide approximate figures over on our calculator’s page. However, our Mortgage Advisors in Lincoln will be able to give you a more accurate maximum loan amount.

Ready to Make an Offer

If you have found your first home in Lincoln and would like to make an offer, we recommend you look at obtaining a mortgage agreement in principle (AIP), which is something our Mortgage Advice team will be more than happy to assist you with this. Having an agreement in principle could increase your odds of having your offer accepted against other potential buyers.

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. Before making an offer, we would always recommend speaking to a Mortgage Broker in Lincoln. This way, we can check that you are eligible for a mortgage and generate your AIP to back up any offers you make.

Need an Agreement in Principle (AIP)

As mentioned above, it is always a good idea to have an AIP before making any offers. Here at Lincolnmoneyman, we can usually obtain you a mortgage agreement in principle within 24 hours. This shows the vendor that you are 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 turned down, there is a possibility that we can still help you. The bank will have their reasons as to why they had declined your mortgage application. As a mortgage broker in Lincoln, we work with a large panel of lenders who offer specialist products. We can look at your circumstances and put you on the correct path as we advance.

 

If you are looking for First Time Buyer Mortgage Advice in Lincoln, please don’t hesitate to contact us or book your free online mortgage appointment to speak to a Mortgage Advisor in Lincoln today. 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 Lincoln?

We have a knowledgeable team of Mortgage Advisors in Lincoln who have helped many first time buyers get on the property ladder in Lincoln.

 

Our Mortgage Advisor works 7 days a week until late, ensuring that we have availability at a time that suits your schedule. All our new/existing customers receive a free mortgage consultation. These can be carried out over the telephone or via a video call on Microsoft Teams.

 

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

 

Customers are the heart of this company, we have your sole interest at heart, and Lincolnmoneyman has no ties with other organizations such as Banks, Estate Agents, or Builders.

 

It’s not just about finding you a mortgage. Utilizing our extensive panel of lenders, we can search through 1000’s of First Time Buyer mortgages to find you the most suitable deal for your circumstances.

 

As a mortgage broker in Lincoln, we aim to take the stress away from the home buying process. Your dedicated case handler will keep you informed every step of the way and explain any mortgage jargon that you may not be familiar with.

 

Please don’t hesitate to contact us or book your free mortgage appointment to speak to a Mortgage Advisor in Lincoln today. We look forward to helping you achieve your mortgage goals.

What our customers say

Common mortgage
questions

Your free mortgage consultation in Lincoln will generally last around 60 minutes. An advisor will then recommend a mortgage for you, with no obligation for you to go forward. You are free to decide whether or not you wish to proceed with the mortgage in question.

As a dedicated and experienced mortgage broker in Lincoln, we work on your behalf. We will carry out a Fact Find to establish your personal 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, a formal mortgage offer can be issued to you by the lender.

To avoid any kind of possible disappointment, we would definitely recommend that you obtain an Agreement in Principle before you begin viewing properties in Lincoln. At the very latest you should obtain one prior to making an offer, as it is free of charge and can put you in a much better bargaining position down the line.

An Agreement in Principle will usually lasts for anywhere between 30 and 90 days depending on the Lender that is used. If your Agreement in Principle expires it can always be refreshed with the help of your mortgage advisor.

It may be possible to get a second mortgage on your home if you’re looking to do Debt Consolidation or Home Improvements. You may also find that it’s possible to take out a mortgage on a second property if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

The minimum deposit that a high street lender will require for a property purchase in Lincoln is typically 5%. This can be higher if you have had any credit problems in the past.

If you have had any type of credit problems in the past, you can still get a mortgage but you may possibly be required to put down a higher deposit than expected, perhaps 15% of the properties purchase price.

Once you have submitted at least one year’s accounts, you are then eligible for a mortgage. Most Lenders will be using your salary plus dividend to calculate the maximum mortgage, whereas others have been known to go off your net profit.

It’s usually three payslips that a lender will need to see for an employee to prove income and the latest 2 years’ accounts for Self Employed. You will also need to produce proof of ID, address and the last 3 months’ bank statements.

The general amount of time that your free consultation with an advisor will last is around an hour or so. A mortgage advisor can turn round an agreement in principle within 24 hours of your consultation. A formal mortgage offer will take on average about three weeks.

We make it so easy!
Our 4 step process

Step 1

A telephone test call where we can take some initial details and find out about your plan of action.

Step 2

Enjoy finding a property!

Step 3

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Step 4

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.

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

Lincolnmoneyman.com & Lincolnmoneyman 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.

© 2021 Lincolnmoneyman

Lincolnmoneyman, Commerce House, Outer Circle Road, Lincoln, LN2 4HY.

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