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First Time Buyer Mortgage Advice in Sunderland

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Helping you take that initial step onto the property ladder 

If you’re buying a home as a first time buyer in Sunderland, the process may leave you feelings of anxiety, concern or uncertainty.  

 

After all, this is something completely new to you. On top of this, the market has a lot of competition and the Estate Agents can put a lot of pressure on you to do things their way. 

 

The good news is that we have a team of expert mortgage advisors in Sunderland on hand, seven days a week and by phone, ready to offer any support and guidance to find you a suitable deal for your circumstances. We are here to help at a time that suits you. 

 

Our welcoming team will be on hand to assist with conveyancing solicitors, surveys and taking care of all the paperwork. It is our job as a dedicated and loyal mortgage broker in Sunderland, to help you every step of the way! 

 

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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Popular First Time Buyer Mortgage Scenarios

With over 20 years of working experience in the mortgage industry to our name, our team of mortgage advisors in Sunderland have helped many first-time buyers in Sunderland get onto the property ladder. 

 

There is rarely a situation we encounter that we haven’t resolved in the past. Below we felt it was best to compile a list of common first-time buyer questions we often hear from customers who have spoken with one of our team:
 

What will my costs be? How much can I borrow?

Many first time buyers in Sunderland wonder how much they can borrow and their monthly costs. Your mortgage advisor in Sunderland will provide a rough estimate on this, giving you a more precise picture.  

 

I’ve seen a property that I like – What’s the next step?

The next step we recommend is to obtain an Agreement in Principle, which you may also see being referred to as a Decision in Principle, Mortgage in Principle, DIP or AIP. Having an Agreement in Principle means that you have passed the lenders initial credit check. 

 

One of the bigger benefits to this document, is that it shows the seller that you’re in a more significant position to progress if they accept your offer, putting you ahead of other buyers. 

 

Usually, a member of our mortgage advice team can turn around an Agreement in Principle within 24 hours of your initial appointment. 

 

My offer got accepted, and I will like to proceed with my mortgage application?

Speak to your mortgage broker in Sunderland to give them the good news. We will progress your mortgage application and deal with all the paperwork on your behalf.  

 

If we encounter any hurdles, your expert advisor will have come across something similar in the past and know what to do to end up with a favourable outcome. 

 

My bank turned me away, can I still get a mortgage?

We often hear from first time buyers in Sunderland who have been turned away from their bank for a variety of different reasons. 

Our team of specialist advisors in Sunderland will work hard to find a solution for any issues you may face during your process. 

  

For a more tailored service, get in touch and get booked in for a free mortgage consultation. 

Why choose us for first time buyer mortgage advice in Sunderland? 

Our team love helping first time buyers, from your initial call, right through to getting the keys to your dream home, your mortgage advisor in Sunderland will be by your side, ready to answer any questions you may have about your mortgage. 

  

Unlike the high street banks, we can search thousands of mortgage deals to find the best one that suits your circumstances. We work solely for you, with no ties to the banks, building societies or estate agents. 

  

We are available seven days a week and aim to take the stress away and solve any hurdles we encounter along the way. The best part of our job is finding a property that you like and receiving the keys! 

  

Please read our genuine customer reviews, as they are a true reflection of the level of dedication and support, we provide to all customers. The service you receive and your happiness is essential to us. 

What our customers say

Common mortgage
questions

Your free initial mortgage consultation with a mortgage advisor in Sunderland will last round about one hour. They will then recommend a mortgage for you, wherein you have no obligation to proceed and you can decide whether or not that particular deal is something you’d like to go forward with.

As a trusted and well experienced mortgage broker in Sunderland, we will first carry out a Fact Find to establish your personal needs, before we begin searching and recommending the most suitable mortgage for you. A credit check will be required for an Agreement in Principle. A formal mortgage offer can be issued once you have provided all the relevant documentation and a valuation of the property has been undertaken.

To avoid any kind of disappointment with a property, we recommend you obtain an Agreement in Principle before you begin property viewings in Sunderland. We would say that at the very latest, you should obtain one before you start to make offers, in order to assist your bargaining position.

A standard Agreement in Principle typically lasts for around 30 to 90 days depending on the Lender. If your Agreement in Principle expires, you can get it easily refreshed.

You may have the option of getting a second mortgage on your home for things like debt consolidation or Home Improvements. This can also be possible if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

The minimum deposit for purchasing a home in Sunderland with a mortgage lender is typically 5%. This figure can possibly be higher if you have had previous credit problems.

If you have had credit problems previously in life, you may still have a chance at obtaining a mortgage, but you may be required to put down a higher deposit than usual. This could be be 15% of the property purchase price.

Once you have submitted at least one year’s accounts to the lender, you may be eligible for a mortgage. Most Lenders will calculate the maximum mortgage with salary plus dividend, whereas others sometimes go off your net profit.

A lender will usually need three payslips for an employee to prove income and the latest 2 years’ accounts for an applicant who is self-employed. You will also need to provide them with proof of ID, address and 3 months’ bank statements.

Your free consultation with a mortgage advisor in Sunderland will typically lasts up to an hour or so. We have the ability to turn round an agreement in principle within 24 hours. A formal mortgage offer has been known to take roughly about three weeks on average.

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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.

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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.

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