The government Help to Buy Scheme is always a very popular choice for first time buyers looking to get onto the property ladder.
With a mortgage advisor in Cardiff by your side, you’ll have a helping hand over any hurdles that come your way, and a hopefully be able to enjoy a much easier, stress-free mortgage process.
A dedicated member of our mortgage advice team will be here to provide both guidance and support, through each step of your mortgage journey. We aim to keep our customers well informed with updates or changes to their case, as well as any other important changes you need to be wary of.
Our mortgage advisors in Cardiff will always be on hand, waiting to assist with all the needs of our customers. We always strive to make the process easy to follow, ensuring you are fully aware of how a Help to Buy in Cardiff works, answering any questions you have along the way.
The Help to Buy Equity Loan Scheme was created by the government as a way of helping out first-time buyers.
In years gone by, this scheme was accessible by existing homeowners looking to move home, though in April 2021 the scheme was remodelled and now only first-time buyers can use it to purchase a home.
There are some main facts to remember with Help to Buy in Cardiff:
– You must have at least 5% deposit saved.
– Up to 20% of the property’s value can be borrowed from the government using their Equity Loan Scheme.
– You can only use this government scheme on a New Build property.
– The amount you borrow is purely a loan and will need to be paid back in full.
When you get in touch for expert mortgage advice in Cardiff, we will take a look at your circumstances to help determine whether or not you qualify for the government Help to Buy Equity Loan Scheme.
A Help to Buy in Cardiff can only be used on a New Build property that is purchased by a first time buyer. There is a maximum purchase price on the Help to Buy Scheme, that depends on the area you will be living in.
For example, in Cardiff the maximum purchase price for having access to the scheme may be quite different to what it is in London.
To learn more about the figures, please take a look at the government Own Your Home website.
In terms of the maximum mortgage amount you would have access to, that is entirely dependant on your personal and financial situation. To learn more about this, book yourself in for a free mortgage appointment today and we’ll take a look at your case.
You must always remember that under no circumstances are you allowed to purchase a second home with the help of this scheme. You are also strictly prohibited from taking part in any part-exchange or sub-letting deals on your home.
If the Help to Buy Equity Loan Scheme isn’t quite right for you, there is also the Help to Buy Shared Ownership Scheme. This allows you to purchase a share in a property, rather than the full amount.
Typically, we find that people will purchase between 25% to 75% of their home, though on some specific occasions you may be able to purchase a smaller percentage. The remaining percentage will be paid back as a monthly rental fee to a local authority.
If you are struggling to afford the full amount of a purchase, the Help to Buy Shared Ownership scheme can be a great tool for first time buyers to utilise, as a means of getting onto the property ladder.
To look more in-depth at the details of this scheme, get in touch with a Mortgage Advisor in Cardiff or take a look at the government Own Your Home website.
As an experienced mortgage broker in Cardiff, we have a great deal of knowledge regarding all of the schemes for Help to Buy in Cardiff. Book your free mortgage appointment and we’ll get started on your process.
Our trusted and dedicated mortgage advisors in Cardiff will always look to recommend our customers the absolute best possible deal that is available to them for their personal and financial situation.
We aim to reduce your stress levels, keeping you well-informed and making sure you feel secure through every step of the process for your Help to Buy in Cardiff.
A Help to Buy in Cardiff serves the purpose of helping first time home buyers in purchasing their very own home with only a 5% deposit.
As a general rule of thumb, Help to Buy Shared Ownership deposits tend to be lower than standard home buying.
With a Help to Buy Equity Loan, you will be granted a loan from the government of up to 20% of the cost of your New Build home. This means that you will only need to put down at least a 5% cash deposit, which brings the total to 25% overall and leaves you with a 75% mortgage to pay back per month.
Please remember that this is just a loan and not money to keep. You will have to pay the government back.
Book a free mortgage appointment with a trusted mortgage advisor in Cardiff today.
To learn more about the Help to Buy Schemes available to you, visit the government Own Your Home Scheme.
As a mortgage broker in Cardiff that has well over two decades of providing customers with expert mortgage advice in Cardiff, we have helped lots of customers to achieve mortgage success and have gained lots of experience in understanding the criteria for various mortgage types.
Once you make contact with a trusted mortgage advisor in Cardiff, you will benefit from a constant and full mortgage support system all the way until mortgage completion, and even beyond that.
We also have the ability to help you with things like surveyors or solicitors, being able to point you in the right direction for these. We can also recommend property surveys and even help to liaise with the estate agents or other third parties if applicable.
During your free initial mortgage appointment, your designated mortgage advisor in Cardiff will run through the mortgage figures with you, providing an estimate of the running costs and monthly mortgage payments that you’ll have to pay.
Take a look at our genuine customer reviews and you’ll come to realise why so many choose us for mortgage advice when they are looking to purchase a home with a Help to Buy in Cardiff. Furthermore, you’ll see why so many come back to us, once it is time for them to remortgage.
Book your free mortgage appointment with an experienced Help to Buy mortgage advisor in Cardiff, and we’ll see how we can help you.
5.00 Rating4 Reviews
Josh
Leanne was very friendly, build up an instance rapport and helped me with my all questions prior to my meeting with another Advisor tomorrow. Thank you Leanne for your help. Josh 😀
Thomas
Cardiffmoneyman has been perfect for us as First Time Buyers. Charlie & Leo were both great at sorting everything out for us promptly and explaining things clearly. Everyone we’ve spoken has been super friendly and helpful. We’re...
Stacie
We were recommended to use Cardiffmoneyman, by friends who used them looking to remortgage. They were fantastic. From start to finish, we were kept informed throughout the entire process, and their working hours were handy, as I and my husband both...
Emma
Jason was great! Being self employed I thought I would never get a mortgage, but here we are and im happily moving into my new home. Couldn't have done this without you and your team, thank you!
Your free initial mortgage consultation will last around 30-60 minutes. During your consultation, you will get to speak with your dedicated Mortgage Advisor in Cardiff. Their job will be to get a better understanding of your mortgage needs and situation so that they can search for the perfect mortgage deal for your personal and financial situation.
It can still be possible to get a mortgage, even with bad credit problems in the past. Even though it may be a little harder, it isn’t impossible!
You may have to put down a higher deposit if you have bad credit, this could be 10%-15%.
Your first job is to carry out our mortgage Fact Find so that we can get an idea of your mortgage needs and what sort of deals you want to be looking for.
Afterwards, we will book you in with a Mortgage Advisor in Cardiff who will get a couple more pieces of information from you.
Then we can arrrange an Agreement in Principle for you within 24-hours to increase the chances of the seller accepting your offer.
If you’ve found yoru dream home, and are happy with our mortgage recommendation, we can start the mortgage application process! A formal mortgage offer can take longer than 3 weeks, during which, we will keep you informed with the progress of your application.
As a Mortgage Broker in Cardiff, we recommend that our applicants obtain an Agreement in Principle (AIP) as soon as possible. Having an AIP whilst you’re viewing properties can increase your chances of being accepted by the seller. It may also allow an opportunity for price negotiation.
Once you have an Agreement in Principle (AIP) in place, it should last between 30-90 days. If your AIP expires, you can easily renew it by getting back in touch with your Mortgage Advisor in Cardiff.
First of all, your free mortgage consultation should last around 30-60 minutes. Once this is complete, your Mortgage Advisor in Cardiff will obtain an Agreement in Principle for you within 24-hours. Then, if you are happy to proceed with the deal that your advisor has recommended, we can submit your mortgage application. A formal mortgage offer can take on average around 3 weeks to return.
During your mortgage application, you’ll be asked to provide evidencing documents:
– Latest 3 Payslips (Employed), Last 2 years’ Accounts (Self-Employed)
– Latest 3 Months’ Bank Statements
– Latest P60
– Photographic ID
During your mortgage application in Cardiff, if you’re Self-Employed, you’ll need to submit at least one year’s accounts. As a Mortgage Broker in Cardiff, we’ve found that most lenders use your salary plus dividend to calculate the maximum mortgage amount that you can borrow. Although, some lenders may choose to go off your net profit.
Depending on why you want to get a second mortgage, it may be easier to get one than not.
There are various reasons why someone may want a second mortgage, for example:
– Buy to Let
– Debt Consolidation
– Home Improvements
– Second Home
– Marital / Relationship Breakdown
For a Help to Buy mortgage in Cardiff, you are going to need a minimum of a 5% deposit. The Government will top-up your deposit to make up 25%.
This loan from the Government will need to be paid off eventually. For the first 5 years, the loan will be interest-free, if you don’t manage to pay it off within this time, the remaining loan amount will rise with an interest base rate of 1.75%.
Give us a call and a Mortgage Advisor in Cardiff will recommend the best Help to Buy scheme based on personal circumstances.
Enjoy finding your dream home in Cardiff
Make an offer on the property and once accepted, we will progress your mortgage application.
We will be here to answer all of your mortgage questions right through till you get 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.
