How much deposit do I need for mortgage in Beverley?

The deposit requirement for a mortgage can vary based on the specific scheme. Let’s say you needed a 5% deposit, if the price of the property is £200,000, you would need a £10,000 deposit.

What is the criteria for a mortgage scheme in Beverley?

The criteria for a mortgage depends on the specific initiative. Generally, common eligibility factors include being a first time buyer, purchasing a new-build property, meeting certain income requirements, and not owning any other property at the time of purchase. Each scheme has its unique criteria, so it’s advisable to review the specific details of the scheme you’re interested in.

Help to Buy Mortgages in Beverley

How Mortgage Schemes in Beverley Can Help to Buy a Home

For certain homebuyers, acquiring the necessary minimum deposit can pose a challenge when venturing into property ownership. In support of these buyers, the various schemes designed to assist buyers in progressing up the property ladder. Each scheme is distinct, with specific requirements that must be met before accessing them.

These schemes cater to various needs and circumstances, providing continued assistance to individuals looking to buy a home in the area, our team will be more than happy to provide you with any mortgage advice in Beverley should you need it.

Useful Mortgage Schemes That Help to Buy in Beverley

While the majority of home buying schemes are designed for first time buyers, several are accessible to both first time buyers and those looking to move homes.

The Shared Ownership Scheme is a prime example of an initiative aimed at making homeownership more affordable. Through this scheme, you can secure a mortgage for a percentage of the property, thereby reducing the minimum deposit requirement.

Newer initiatives, like the Lifetime ISA, streamline the process of saving for your mortgage. With this program, the government adds a 25% top-up to your savings every year, providing a significant boost as you work towards accumulating your deposit.

Some schemes may require you to speak with a mortgage advisors in Beverley who can provide valuable assistance in navigating these options.

What is a Help to Buy in Beverley?

Help to Buy was introduced in the 2010’s, off the back of the UK government’ previous FirstBuy Scheme. With a series of pre-existing and new schemes placed under that banner, it was designed to help first time buyers get onto the property ladder.

Over the years we have seen schemes under this banner disappear, whilst others have carried on without that branding. The most popular and well-known of these was the Help to Buy Equity Loan Scheme, which was closed to new applicants towards the end of 2022.

What this means is that first time buyers are no longer able to use a Help to Buy in Beverley or anywhere in the UK, though this doesn’t necessarily mean that support for home buyers has ended. There are still a variety of schemes that can help to buy in Beverley!

Speak to an Advisor

Important information

Your home may be repossessed if you do not keep up repayments on your mortgage.

There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.

Help to Buy FAQs in Beverley

Our Customers Love Us

4.98 Rating52 Reviews

Jack

Couldn’t fault the process, everything was clear and no issues, used previously so will continue to and recommend in the future

1 month ago

Mrs Cheryl

Uk Moneyman was amazing in getting us through this process, specifically Dinah she gave us the best advice during a process we’ve never been through before, she went through every stage in great detail and was so quick in her responses I felt safe...

1 month ago

James

Very good communication, answered questions and avoided jargon. Helped us understand the process and what is involved to complete.

1 month ago

James

Very helpful the whole way through the process

1 month ago

Samantha

Jason and Mike were incredibly helpful and supportive. I have used Beverleymoneyman three times now, and each time they provide a professional and efficient service. This time my move is precipitated by divorce, which they handled in a senstive and...

1 month ago

Have used Beverleymoneyman several in the past and am never disappointed with their excellent service.

4 months ago

Annie

Excellent service

6 months ago

Hannah

I can't thank everyone enough for their help. They went above and beyond to make sure everything went smoothly - it would have been far more stressful had I not had their support. I'd recommend the company to anyone.

1 year ago

Anonymous

Yery good and professional.

1 year ago

Samuel

Helpful, responsive and friendly.

1 year ago

Sophie

Highly recommend! Chris talked me through everything and made sure I understood it all, great communication and a pleasure to deal with!

1 year ago

Kerry

Absolutely fantastic from start to finish, would highly recommend 😀 5*

1 year ago

Anonymous

My advisor Leo provided the personal tour ch through the whole process and his communication was very good, even texting me at weekends with any updates on my mortgage progress.

1 year ago

Anete

During mortgage application process my mortgage advisor and case handler was communicating with me very often which for me as a first time buyer was very important. Always open for questions and super flexible with first initial mortgage...

1 year ago

Anonymous

From start to finish perfect, friendly, professional and everything made clear and easy, Matt and Lizzi have been absolutely superb and ALMOST got use to my 'colourful language' Many thanks for all your help. Cheers 🍻

1 year ago

David

We use Beverleymoneyman - Mortgage Brokers for all our mortgage and insurance needs. They never fail to deliver and apply professionalism combined with insightful advice to obtain the most suitable deal. Thanks to Leo and Jo for their help and...

2 years ago

Neil

This is the second time we have used Beverleymoneyman and we are not disappointed. Daniel talked us through the options we had and was really good at answering our questions. Jo ensured our application progressed and kept us informed at each...

2 years ago

Barbara

These people saved my life during the most stressful house purchase ever. All sorts of things happened and when most of the professionals involved were impossible to get hold of, everyone at UK Moneyman was just amazing, kind, thoughtful and...

2 years ago

Nicole

Could not recommend Matt and Megan enough! Being a first time buyer, I did not know what the buying process would entail. Thankfully, Matt and Megan explained everything as we went along. Matt went above and beyond to answer my calls when we...

3 years ago

Liam

Really good service and friendly too

3 years ago

Our Simple Step by Step Process

Free Initial Mortgage Appointment

Book your free initial mortgage appointment and engage in a discussion about your mortgage options with one of our dedicated mortgage advisors in Beverley. We’ll guide you through the available schemes, assisting in identifying the most suitable one for your unique circumstances.

We Can Search 1000s of Mortgage Deals

While you prepare your mortgage application, your advisor in Beverley will diligently search through a vast array of mortgage products on your behalf.

Submit Your Help to Buy Application

The next step involves preparing your mortgage application for submission to the lender. Throughout this process, we’ll keep you updated on the progress, ensuring transparency and clarity in every step.

Protecting You and Your Mortgage

Our services go beyond merely securing the right mortgage for you. We also provide guidance on insurance options, aiming to safeguard both you and your loved ones.

Reasons to Choose Us

Free Initial Mortgage Appointment

We provide a complimentary free initial mortgage appointment for all customers, offering a thorough review of your options and addressing any questions you may have about the schemes. Our assessment also includes an evaluation of your overall mortgage affordability, considering factors such as credit and current income to determine your borrowing capacity.

Our Service

In our capacity as a mortgage broker in Beverley, we cater to individuals seeking diverse mortgage solutions, including those aligned with any mortgage schemes. From your initial contact with us, we guide you through the entire process, providing comprehensive support at every step.

7 Days a Week

Operating seven days a week, flexibility in our service. You can schedule your free initial mortgage appointment for the morning, afternoon, or evening—choose a time that suits you best! Our availability extends to weekends and bank holidays, ensuring you can reach us whenever you need assistance.