Mortgage Broker In Manchester

Save a deposit. The larger your deposit, the better your chances of being approved for a mortgage and getting a lower interest rate. In Manchester, you’ll typically need a deposit of at least 5% for a first-time buyer mortgage, but some lenders may require a larger deposit.

Improve your credit rating. Your credit rating is one of the most important factors that lenders will consider when assessing your mortgage application. A good credit rating shows lenders that you’re a responsible borrower and that you’re likely to repay your mortgage on time.

Get mortgage advice from a qualified broker. A mortgage broker can help you find the right mortgage for your needs and circumstances, and they can also help you with the application process.

Consider a Help to Buy mortgage. The Help to Buy scheme is a government scheme that can help first-time buyers and home movers to buy a property in Manchester. Under the scheme, the government can lend you up to 20% of the purchase price of a new-build property, or 40% of the purchase price of a resale property. You’ll need to save a deposit of at least 5% yourself.

Be prepared to move quickly. The Manchester property market is competitive, so you need to be prepared to move quickly if you find a property that you want.

Do your research. Before you start looking at homes, it’s important to understand the Manchester property market. This includes knowing the average prices in different areas, as well as the different types of properties available.