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First Time Buyer Mortgage Advice in Sunderland

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7 days a week, 8am - 10pm

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First Time Buyer Mortgage Advice in Sunderland

Discover your borrowing potential and move closer to securing your dream home as a first time buyer in Sunderland.

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Helping first time buyers in Sunderland

Mortgages are a massive financial commitment to take out. Understandably, as a first time buyer you can find starting your process to be a little daunting. As providers of mortgage advice in Sunderland, it’s our job to help you be as stress-free as possible, doing the hard work so you don’t have to.

Our service is beyond just getting a mortgage, it’s all about your journey, how you got there and what happens next. We aim to make the process simple and keep you constantly informed; your mortgage advisor in Sunderland will be by your side all throughout.

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First Time Buyer Mortgage Advice in Sunderland

How much deposit do I need for a first time buyer mortgage in Sunderland?

The amount of deposit needed will depend on your credit score. As a common rule, we tend to find, as a mortgage broker in Sunderland, that first time buyers in Sunderland usually have a good credit score, which in turn may give you access to much better mortgage rates and put down a lower deposit, possibly as low as 5% of the purchase price.

Alternatively, for first time buyers in Sunderland with a rather low credit score, you may only have access to much higher rates and be required to put down a higher deposit, somewhere maybe within the area of 10-15%.

Your deposit amount will also be different depending on the type of property you’re looking to buy. If your property is more expensive, you may need to put down a larger deposit.

Are there ways to help me get onto the property ladder in Sunderland?

If you are finding it quite challenging to reach the minimum deposit that is required, you may be able to use one of the government mortgage schemes. These schemes were introduced as a means of helping first time buyers find success in their home owning dreams.

The schemes available currently include the various Help to Buy Schemes, Shared Ownership Scheme, Mortgage Guarantee Scheme, the First Home Scheme, as well as a handful of others. Every one of these schemes is designed with the intention of helping home buyers get onto the property ladder in some way. You’ll still need to qualify, which is where a mortgage broker in Sunderland can come in.

For additional mortgage advice in Sunderland for first time buyers in Sunderland, as well as explanations of the available government mortgage schemes, book your free mortgage appointment with one of our mortgage advisors in Sunderland. They’ll be able to help you check eligibility and apply for your mortgage.

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Frequently Asked Questions From First Time Buyers in Sunderland

How can a mortgage broker help first time buyers in Sunderland?

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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.

What are the costs involved with first time buyer mortgages in Sunderland?

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On top of the deposit you saved, the other costs involved include: conveyancing and solicitation costs, property surveys, broker fees, and mortgage arrangement fees.

You may also have a stamp duty to consider, as well as any insurance you can take out to protect you, your home and loved ones.

Your dedicated mortgage advisor in Sunderland can discuss all the costs invovled in greater detail during your free initial mortgage appointment.

What do I need to buy my first home in Sunderland?

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First, you must first have saved enough for a deposit of 5 percent or more to be eligible to take out a mortgage for the first time in Sunderland. You will also need to appoint a conveyancing solicitor to carry out the legal proceedings that come with purchasing any property.

As a mortgage broker who helps first time buyers in Sunderland, we are here to help you, every step of the way. Our mortgage advisors in Sunderland can help you check your eligibility and get you the most suitable first time buyer mortgage in Sunderland based on your circumstances.

What type of first time buyer mortgages can I get in Sunderland?

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There are loads of options for first time buyers in Sunderland, and plenty of mortgage types available, each different from the rest. The most popular mortgage for first time buyers in Sunderland, is a fixed rate mortgage, where you fix your interest rates for a long time to protect yourself from interest rate increases.

There is also a tracker mortgage. If the Bank of England the base rate increases, so do your interest rates. If the rate drops, it will also do that. Discounted variable rates are cheaper, but if a mortgage lender’s SVR changes, your interest rates will also change.

Finally, there is an offset mortgage. This gives you an interest-free, flexible savings account to compensate for the mortgage balance. The greater your savings, the less interest you pay on your mortgage.

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Our Simple Mortgage Process

Free 30-Minute Mortgage Appointment

Step 1

Whatever you want to achieve, we always recommend discussing your current situation and options with an open and honest mortgage broker in Sunderland like ourselves.

During your first free appointment, your mortgage advisor in Sunderland will task several questions about your income and expenses to work out the maximum amount you can borrow for a first time buyer mortgage in Sunderland.

We Can Search 1000s of Mortgage Deals

Step 2

We search 1000’s of first time buyer mortgage products to find the most suitable deal to match your circumstances!

After 24 hours of your free initial appointment, we aim to get your mortgage agreement in principle, which can be a great tool to support all the offers you put down.

Submit Your Mortgage Application

Step 3

When your offer has been accepted, your mortgage advisor in Sunderland will submit your full mortgage application and forward all documentation to the lender.

During this process, your dedicated case manager will keep you informed throughout the process until you receive your official mortgage offer and complete your purchase.

Protecting You and Your Mortgage

Step 4

We like to do more. As well as securing you with the most suitable mortgage deal, we will also recommend relevant insurance to make sure you are covered and protected.

We will also contact you when your mortgage is renewed to make sure you are always on the best deal.

Reasons to Choose Us

Free Mortgage Appointment

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As a mortgage broker in Sunderland, we 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.

1000s of Deals

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Unlike the high street banks, we can search thousands of mortgage deals to find the best one that suits your circumstances.

Our Service

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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.

7 Days a Week

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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!

Malcolm and Amy Davidson - Mortgage Advice in Sunderland

We Search 1000s of First Time Buyer Mortgages in Sunderland

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Common First Time Buyer Mortgage Scenarios

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

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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?

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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?

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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?

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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 mortgage 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 appointment.

Mortgage Guides & Sunderlandmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at

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