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Help to Buy Mortgage Broker Essex & Suffolk2021-09-23T11:56:41+01:00

Help to Buy Mortgage Broker in Essex & Suffolk

Unbiased, stress-free Help to Buy mortgage advice from the top mortgage broker in Essex & Suffolk.

    Looking to get on the property ladder with a quality, fees-free, Help to Buy mortgage broker in Essex & Suffolk? Get in touch with Fees Free Mortgages today for friendly advice, or to discover your perfect mortgage deal for the Help to Buy scheme.

    • Barclays Remortgage Broker in Essex
    • Halifax Remortgage Broker in Essex
    • HSBC Remortgage Broker in Essex
    • Lloyds Bank Remortgage Broker in Essex
    • Nationwide Remortgage Broker in Suffolk
    • NatWest Remortgage Broker in Suffolk
    • Santander Remortgage Broker in Suffolk
    • TSB Remortgage Broker in Suffolk
    • Virgin Money Remortgage Broker in Suffolk

    We’re a Top Rated Help to Buy Mortgage Broker

    We are a Top Rated 2021 vouchedfor Help to Buy mortgage broker in Essex & Suffolk, checked more thoroughly than any other.

    Check our reviews

    vouchedfor Reviews

    • Martin Bright could not have done anything better, he listened to my needs, acted upon them promptly to get me the best and the right deal.

    • Martin was a tremendous help with mortgage and life insurance advice. His knowledge and expert advice was a real guiding light throughout the complexities of navigating both these areas for the very first time. We wouldn’t hesitate to recommend him. He is personable, conscientious and everything you could hope for in an advisor.

    Vouched - Top Rated Remortgage Broker in Essex & Suffolk
    Mortgage Broker Essex & Suffolk
    Certificate in Mortgage Advice and Practice (CeMAP) - Fees Free Mortgages

    What is the Help to Buy Scheme?

    The Help to Buy scheme is a government-led initiative offering financial support to first time, and existing home buyers looking to get on, or re-enter the property ladder – mainly through the means of an equity loan. Applicants meeting the scheme’s requirements (listed below) are entitled to a 20% deposit loan (40% in London) provided by the government when purchasing their first home. There’s no interest on this loan for the first five years. Buyers are generally required to provide a deposit of at least 5% of the property price up front, whilst the rest is paid through a mortgage – with the maximum term available being 25 years. 

    Discover more about the Help to Buy scheme, and how Fees Free Mortgages’ Help to Buy mortgage brokers can help find you the perfect mortgage.

    Schedule an Appointment Today

    How the Help to Buy Equity Loan Scheme Works

    The Help to Buy equity loan (in England) is available to those looking to purchase a new-build property, and able to put down a 5% deposit. As we’ve briefly outlined, the government will lend you a further 20% deposit on top of this on an interest-free basis for the first five years (after this, interest is set at 1.75%, increasing on a yearly basis by the rate of inflation). This loan, combined with your initial deposit payment means you’ll only need to apply for, at most, a mortgage covering 75% of the property price – offering drastically reduced mortgage payments in comparison to buying independently with a small deposit.

    Do I qualify?

    In order to qualify for this part of the scheme, you must be looking to purchase a new-build property from a registered builder or construction company costing £600,000 or less. This must be your only home, meaning you can’t use the Help to Buy scheme to purchase a secondary or buy-to-let property.

    Is there an income threshold?

    There are no maximum thresholds for applicant incomes, meaning you can apply for the Help to Buy scheme, even if you’re on a high salary.

    What about the government loan?

    The 20% government loan itself can be paid back at any stage – but must be fully repaid within 25 years – this is also the maximum mortgage period available for Help to Buy properties. This changes if you move during this period – in this case, the loan must be fully repaid before the move is complete. If your property increases in value during this time, you’ll be required to pay a percentage of growth on top of the initial 20% lent.

    We are the Top Help to Buy Mortgage Broker in Essex & Suffolk, with our Professional, Transparent & Genuine Approach

    If you are considering a Help to Buy mortgage, make sure to contact our fees free independent Help to Buy mortgage advisors, who will consider all your circumstances as well as available deals before offering impartial advice about which mortgage options are right for you.

    How it works

    Help to Buy Mortgages in 5 Easy Steps

    The team at Fees Free Mortgages understand the importance of finding the right Help to Buy mortgage for you – that’s why we work on a commission-free basis and aren’t tied to any one lender. Our brokers and advisors are motivated by your needs and ambitions – meaning we’ll find the most suitable deal for you.

    Remortgage Broker in Essex & Suffolk

    1. Initial Discussion

    Our friendly fact-finding process will allow us to understand your goals and objectives. Your Help to Buy mortgage advisor will work with you to understand any hurdles to securing a mortgage at this stage – it’s hugely important to make sure you meet the scheme’s requirements before digging in. We’ll also explain exactly who we are and what you can expect from our service.

    2. Review the market on your behalf

    We get straight to work exploring the maze of Help to Buy mortgage lending criteria for you. We’ll make affordability and credit assessments ensuring the recommendations we make are suitable for your individual needs. 

    3. Share our recommendations with you

    Your Help to Buy mortgage broker will illustrate the facts and figures in an easy-to-understand presentation, including the justifications behind the recommendations.  

    4. Package & submit a full Help to Buy mortgage application

    Our Help to Buy mortgage submission route is much easier than an ‘in branch’ experience. Why sit through a 2-hour interview with the bank when we can do this for you?   

    5. Oversee the process to completion

    If solicitors are introduced, don’t worry. We’ll assist you with their paperwork and we can talk to them on your behalf, acting as the middle man right through to completion.

    Help to Buy Mortgage Broker for First-Time Buyers

    If you’re using the Help to Buy scheme to secure your first property, you’re most likely seeking a mortgage with specific terms meeting the conditions laid out by the Government.

    The good news is, many lenders offer tailored Help to Buy repayment mortgages, designed to meet every requirement of the Help to Buy scheme. With so many packages on the market at a wide variety of rates, we highly advise using an experienced mortgage broker to source the most suitable Help to Buy mortgage for you.

    Fees Free Mortgage’s team of friendly advisors know these offerings inside out and will work quickly, impartially, and professionally to find you the best, most suitable deal on the market, taking into account the requirements of both the scheme and you as an individual.

    How it works

    Why Choose us as Your Help to Buy Mortgage Broker?

    We’ll find the best Help to Buy mortgage deal that suits you and give you expert financial advice while taking care of your whole mortgage application. Best of all, we’re FEES FREE! Putting the Free in Fees Free Mortgages.

    Fees
    Free

    No mortgage broker fees – Many firms charge upfront fees, or fees on completion.

    Personal
    Service

    No call centres and only 2 points of contact (Mortgage Broker & Case Manager)

    Unbiased
    Advice

    We review the whole of the market, giving unbiased and independent mortgage advice.

    Regulated &
    Accountable

    We are directly authorised by the FCA and fully accountable for the mortgage advice we give.

    Free
    Advice

    Free financial advice, including; mortgage, life insurance & protection.

    Ongoing
    Contact

    We handle all the hard work and keep you updated until your mortgage completes.

    We Aren’t Just a Help to Buy Mortgage Broker…

    We love providing whole of market, no-fee mortgage advice and believe that any interaction with us will be a positive experience because we do our best to help you achieve all your mortgage goals!

    First Time
    Buyers

    We love helping you get on to the property ladder. We’ll oversee your first purchase from start to finish!

    Buy-to-Let

    Looking to jump-start your investments with a buy-to-let mortgage? We will find you the best deal!

    Remortgages
    .

    We’ll review your options with your existing lender and compare them against the market for you. 

    95% Mortgages

    Whether you’re an experienced mover, or a first-time buyer, take advantage of the 95% mortgage guarantee scheme today!

    Help to
    Buy

    Need Help to Buy advice? Our straightforward team of Help to Buy experts will put you in the picture.

    Self-Employed
    Mortgages

    Are you self-employed and looking for an excellent mortgage deal? Our simple process will explain it all to you, and give you peace of mind.

    Free Help-to-Buy Mortgage Advice (FAQs)

    Where can I find Help to Buy properties?2021-06-17T13:41:09+01:00

    Quite simply, you can either find listings of Help to Buy eligible properties on the internet, or you can check with a Help to Buy agency to see what is available. You may be restricted in the number of different properties available that fit your criteria, relative to traditional mortgages.

    This is because of the criteria that govern what properties are eligible for the Help to Buy scheme. Properties must be newbuilds from registered builders or construction firms and must be of a value of £600,000 or less. The percentage of properties in a given area that fit these criteria in a given area is likely to be less than the total number of properties for sale in the same area, so you may have to shop around!

    How long does a Help to Buy application take?2021-06-17T13:40:39+01:00

    On average, a Help to Buy mortgage application can take approximately 6 weeks from your initial application through to owning your home. In some instances, this can be quicker than buying your home through other means, and in others it can be a slightly longer time, depending on the circumstances.

    Some of the key differences between this process and buying a house through a traditional mortgage is that you must first establish that you are eligible for the Help to Buy scheme, and then find a dedicated Help to Buy property that you wish to purchase. You will also have to consult with and wait on a Help to Buy agency.

    How does Help to Buy work?2021-06-17T13:40:05+01:00

    In the Help to Buy Equity Loan Scheme, you put down a 5% deposit on a new build, and the government will then lend you an additional 20%, which is interest-free for 5 years (1.75% annual interest thereafter). With a 25% deposit all-told, you need only apply for a 75% mortgage.

    Because your mortgage will be a 75% mortgage, your monthly mortgage payments will be significantly less than if you put only a 5% or 10% deposit down on a mortgage of the same value. The government loan can be paid back at any stage but must be paid back in full within 25 years. If your property increases in value during this period, you will have to pay a percentage of the growth on top of the initial 20% amount.

    The conditions for Help to Buy are that the home you are looking to purchase must be from a registered builder or construction firm, with the home valued at £600,000 or less. It must also be your only home. There are no maximum salary thresholds for the Help to Buy scheme.

    How long will the Help to Buy scheme run for?2021-02-07T12:06:59+01:00

    The current Help to Buy Equity Loan scheme has been extended until 2021 through a further £8.6 billion in Government funding. There will be a new scheme available from April 2021 until March 2023, subject to further confirmation. This scheme does not differ drastically from current offerings, with primary disparities seen in house price limits according to region.

    What is the Help to Buy Equity Loan?2021-01-21T09:53:45+01:00

    The Help to Buy equity loan (in England) is available to those looking to purchase a new-build property, and able to put down a 5% deposit. As we’ve briefly outlined, the government will lend you a further 20% deposit on top of this on an interest-free basis for the first five years (after this, interest is set at 1.75%, increasing on a yearly basis by the rate of inflation). This loan, combined with your initial deposit payment means you’ll only need to apply for, at most, a mortgage covering 75% of the property price –  offering drastically reduced mortgage payments in comparison to buying independently with a small deposit.

    Is Help to Buy worth it?2021-02-07T12:06:18+01:00

    The help to buy equity loan is an integral part of the help to buy scheme, provided by the UK government to qualifying applicants. This loan is most often used to provide a 20% deposit ‘top-up’ to buyers purchasing new builds priced at under £600,000 in England. The Help to Buy equity loan is offered on an interest-free basis for the first five years (after this, interest is set at 1.75%, increasing on a yearly basis by the rate of inflation). 

    The structure of this equity loan alone makes the Help to Buy scheme ‘worth it’ for a huge number of qualifying home buyers, with the initial lack of interest providing a unique offering of financial breathing space, and the large deposit allowing for significantly lower interest rates than those seen on properties purchased with smaller deposits. 

    Of course, there are restraints to the scheme, notably its restriction to the purchase of new-build homes only – meaning it’s not necessarily for everyone. 

    Who can apply for Help to Buy?2021-02-07T12:06:01+01:00

    In England, applicants qualifying for the Help to Buy scheme must be a UK resident, looking to purchase a new build home for the price of up to £600,000 using the scheme, and a mortgage. This property must be the applicant’s only home, and they must intend to live in it.  

    Applicants must be able to offer a minimum of a 5% deposit upfront in order to qualify for the further 20% deposit equity loan provided by the government through the scheme. 

    There is no maximum income threshold for the scheme, meaning even those on high salaries may apply providing all other conditions are met. 

    How do I get a Help To Buy mortgage?2021-02-07T12:05:45+01:00

    There are many lenders on the market offering specially developed and tailored Help to Buy mortgage packages. If working through the mortgage application process independently, it’s important to shortlist lenders participating in the scheme, before applying to those deemed most suitable. During the application process, lenders, with the assistance of a help to buy agent, will check your eligibility for the scheme, and assess your financial position before proceeding. Both parties must agree on the affordability of the mortgage. Besides this, help to buy mortgage applications are much the same as a standard residential mortgage application. It is highly recommended to source a broker experienced in the help to buy sector, who will work to match you with the most suitable help to buy a mortgage offering for your situation and requirements and assist with the application process. 

    Request Free Help to Buy Mortgage Advice

      Looking for Help to Buy mortgage advice? Get in touch with Fees Free Mortgages today. The top Help to Buy mortgage broker in Essex & Suffolk.

      Mortgage Broker Essex

      WHOLE OF MARKET MORTGAGE BROKER ESSEX & SUFFOLK

      • Barclays Mortgage Broker
      • Halifax Mortgage Broker
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      • Santander Mortgage Advisor
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