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Help to Buy Mortgage Advice in Leeds

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Help to Buy Mortgage Advice in Leeds Across All Schemes

The Help to Buy Scheme can be seen as an appealing option, however, it can be very challenging. With our experience as a mortgage broker in Leeds, we aim to overcome any surprising obstacles and reassure you that it’s not as daunting as you may think.


We will be the helping hand throughout the full process, updating you on what is going on and when. If you are looking for some advice or wanting any information clarifying, we are only a phone call away. We are here to support you through this time.


It can be very helpful to have a mortgage broker in Leeds, like ourselves, working with you through the full help to buy journey.


How does the Help to Buy Equity Loan Scheme work?

Below are a few facts about the scheme:


It’s a requirement that you have a minimum of 5% deposit.


This scheme is only for First Time Buyers.


Approximately 20% of the property’s value will be treated as an equity loan from the Government.


A special Help to Buy mortgage will cover the balance.


How does the Help to Buy Equity Loan Scheme work?

Firstly, we will confirm if you are qualified for the scheme or not based on your circumstances. Help to Buy Equity Loans only apply to new build properties. When it comes to a maximum value, this all depends on where you live. Again, it’s important to know that only First Time Buyers in Leeds can qualify.


It’s stated within the terms and conditions that you should not own more than one property so buying a second home with the help of this scheme is not allowed. As well as this, you can not part-exchange or sub-let.

Help to Buy Shared Ownership

When it comes to the Help to Buy Shared Ownership Scheme, you would have the option to purchase 25% or even more to 75% of a home and pay rent on the rest. In some instances, you may be able to purchase as little as 10%. Help to Buy: Shared Ownership provides you with the option to buy a share of your home (usually 25% and 75% of the home’s value) and pay the remaining share through rent. This is very beneficial if you are struggling to afford the mortgage on 100% of a home.


At Leedsmoneyman, we will be able to provide expert Help to Buy Mortgage Advice across all the schemes. Below, is more information about Help to Buy schemes and the most common scenarios when it comes to Help to Buy.


For more information (including advice on fees and paying back your loan), please download our Help to Buy Buyers’ Guide (PDF).

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Providing you with Expert Help to Buy Mortgage Advice in Leeds

We provide a fast and friendly service where we look at your circumstances and financial state to find you the best option. As a mortgage advisor in Leeds, our goal is to make your Help to Buy experience as stress-free as possible so you can complete your full Help to Buy process happy.


The advantage of a Help to Buy mortgage in Leeds is it provides you with the option to buy a home with just 5% deposit. Whereas Help to Buy Shared Ownership deposits are generally lower than buying traditionally.


When it comes to the Help to Buy: Equity Loan, you’ll only need 5% cash deposit and a 75% mortgage to make up the rest because the government lends up to 20% of the cost of your newly built home.


We offer all our customers a free mortgage appointment with a mortgage advisor in Leeds.

Do I Qualify for the Help to Buy Scheme?

Firstly, our dedicated team will need to understand your circumstances in order to know if you would qualify or not for any of the schemes that are available. If you would qualify for the mortgage, we would then proceed with finding you a Help to Buy scheme in Leeds.


Our expert mortgage advisors are always here if you are looking to get in touch with us about any types of schemes that could benefit you.


You may find the schemes vary. An example of this is the Help to Buy Equity Loan which is only available when used for new builds with a maximum amount. Remember, the maximum amount does depend on where you are looking to live.


As mentioned, you will only qualify if you are a first time buyer. Whether you match the criteria entirely depends on your own circumstances and the property you are looking at.


You will not qualify for the Help to Buy Scheme if you own any other property in the time where you are wanting to purchase a new home with the help of the Help to Buy Equity Loan. Furthermore, it is forbidden to sublet or part exchange.


Find out more information about the Help to Buy schemes available to you at Gov.uk

Why should you choose us as your Mortgage Broker in Leeds?

Our 20 plus years experience as a knowledgeable and friendly mortgage broker in Leeds has provided us with the skills of working with a number of customers all with varying circumstances enquiring about different types of mortgage advice.


In this time, we have had numerous opportunities with dealing with customers who are looking to take advantage of the Help to Buy scheme. When starting your Help to Buy journey with one of our friendly mortgage advisors in Leeds, we will be there all the way until completion.


The Help to Buy scheme also falls under individuals who have found a new home that they are looking to purchase. We will be able to help by looking at the paperwork with you as well as contacting the home or estate agent on your behalf if necessary.


If you are looking into getting a surveyor or solicitor, we are happy to help in providing you with advice and guidance as well as discussing what requirements you need for that.


Your dedicated mortgage advisor in Leeds will be able to provide you with an idea of the amount you will be paying monthly for your mortgage deal as well as looking through all of the figures with you. This is all part of what we offer with our free initial mortgage appointment.


Check out what our customers say about our services and why many people go to Leedsmoneyman when looking to take out a mortgage with the help of the Help to Buy Equity Loan Scheme.


We are with you every step of the way on your homebuying journey providing you with open and honest mortgage advice. Contact us and book yourself in for your free mortgage appointment.


As your Mortgage Advisor in Leeds, we are here to help you. Get in touch with us today and make a date for your free mortgage consultation.

What our customers say

Common mortgage

You will need to have at least 5% of your new build properties sale price to put down as a deposit. The Government will then top up your deposit by the equity loan scheme by 20% of the value of the property. 

Our free initial mortgage consultation can roughly last up to one hour. As a skilled Mortgage Broker in Leeds, we can get you an Agreement in Principle within 24 hours after we have all the correct information. On average, a formal mortgage offer takes about three weeks. 

If you’re an employee, you will usually have to supply three pay slips to prove your income. If you are Self Employed in Leeds, it is typically the latest two years’ accounts. You will also need to provide proof of ID, address and three months’ bank statements. 

If you can show evidence of at least one year’s accounts, you may be able to get a mortgage. Most lenders in Leeds will use your salary plus dividend to work out your maximum mortgage. However, some can go off your net profit. 

Despite having shown any credit problems in the past, the good news is you may be able to get a mortgage, but it means you may be required to put down a higher deposit, e.g. 10 – 15% of the property purchase price.

You can have two mortgages running simultaneously, as long as you can afford to repay the monthly instalments on each of them. If you’re looking to accomplish something like debt consolidation or home improvements, you may be able to place a second mortgage on your home. 

An Agreement in Principle typically lasts for between 30 and 90 days depending on the Lender used. If your Agreement in Principle expires, it can easily get renewed by speaking to a Mortgage Advisor in Leeds. 

As a committed Mortgage Broker in Leeds, we will carry out a Fact Find to establish your personal needs before we go ahead with advising the most suitable mortgage for your circumstances. From there, you will be credit checked, which is a requirement to obtain an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, you can be issued a formal mortgage offer. 

Your free mortgage consultation with a Mortgage Advisor in Leeds will last around one hour. Once they have evaluated your circumstances, they will advise a mortgage with no obligation for you to proceed. Based on the deal, you can determine whether or not you want to continue the process. 

To help demonstrate that you are creditworthy and assess your affordability for a mortgage, we recommend getting an Agreement in Principle ready before viewing properties in Leeds. At the very latest, you should obtain one before making an offer to assist your bargaining position and show any seller that you are ready to proceed should they accept your offer. We are typically able to obtain an agreement in principle within 24 hours.

We make it so easy!
Our 4 step process

Step 1

Give us a call and a Mortgage Advisor in Leeds will recommend the best Help to Buy scheme based on personal circumstances.

Step 2

Enjoy finding your dream home in Leeds

Step 3

Make an offer on the property and once accepted, we will progress your mortgage application.

Step 4

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.

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Leedsmoneyman.com & Leedsmoneyman 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.

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