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Help to Buy
Right to Buy
Shared Ownership
Help from Mum & Dad
Specialist Mortgages

Mortgage Marketplace loves First Time Buyers!


It starts with your dream

You may just want to know how much you can borrow, or you may have already found your dream home. Whatever your circumstances, we will be with you at every step, just a phone call away to answer any questions along the way.

Your journey begins here

In a simple, easy to understand process, we let you know how much you can borrow and what your monthly payments will be. We will also give you a Mortgage Promise, so when you find your dream home, your mortgage is sorted!

Your dream becomes reality

Applying for your first mortgage does not have to be stressful or challenging. We will be at your side from that initial phone call until you get the keys to the front door. You will have a dedicated mortgage consultant at every step.

Help to Buy Mortgage Advice


How does it work?

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

You won’t be charged loan fees on the 20% loan for the first five years of owning your home.

An example

If the home in the example adjacent sold for £210,000, you’d get £168,000 (80%, from your mortgage and the cash deposit) and you’d pay back £42,000 on the loan (20%). You’d need to pay off your mortgage with your share of the money. .

London Help to Buy

To reflect the current property prices in London, from February 2016 the Government is increasing the upper limit for the equity loan it gives new home-buyers within Greater London from 20% to 40%.

Help to Buy

Am I eligible for Right to Buy?


Overview

The first thing you need to know is whether you are eligible for the Right to Buy. Eligibility criteria apply to you and the property you live in. If you have been living in your council property for at least two years, it’s likely that you will have the opportunity to purchase your home at a discounted price.

Our mortgage consultants can talk you through the whole application process. However, your eligibility would need to be confirmed by your landlord as part of the Right to Buy application process.

If you are eligible and thinking of applying, be wary of individuals or companies offering to help you with your Right to Buy. It’s likely that they will charge you for their services and may be offering a deal which is better for them than it is for you. Always check first if there are any costs involved.

Changes to eligibility

In May 2015, the eligibility criteria was reduced from five years public sector tenancy to three. This means you now have to be a tenant for three years instead of five before you can apply to buy your home.

Making a joint application

You don’t have to do it alone – you may be able to make a joint application for Right to Buy. If you’re eligible, you might be able to buy your home with:

  • Someone who shares your tenancy
  • Your spouse or civil partner
  • Up to 3 family members who’ve lived with you for the past 12 months. They don’t have to be on your tenancy agreement but it must be their main home

There is nothing in law that specifies how a Right to Buy purchase should be financed. A family member (or someone else) could provide the funding for the purchase. However legal ownership of the property can only be in the names of the eligible tenant/s and other eligible applicants.

Housing association tenants

There are other schemes available to housing association tenants. The Government also has plans to extend Right to Buy so if you are a housing association tenant and not currently eligible.

Shared Ownership Mortgages


Overview

If you can’t quite afford the mortgage on 100% of a home, Help to Buy: Shared Ownership offers you the chance to buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to.

You could buy a home through Help to Buy: Shared Ownership in England if:

  • your household earns £80,000 a year or less outside London, or your household earns £90,000 a year or less in London
  • you are a first-time buyer, you used to own a home but can’t afford to buy one now or are an existing shared owner looking to move.

With Help to Buy: Shared Ownership you can buy a newly built home or an existing one through resale programmes from housing associations. You’ll need to take out a mortgage to pay for your share of the home’s purchase price, or fund this through your savings. Shared Ownership properties are always leasehold.

Only military personnel will be given priority over other groups through government funded shared ownership schemes. However, councils with their own shared ownership home-building programmes may have some priority groups, based on local housing needs.

People with disabilities

Home Ownership for People with Long-Term Disabilities (HOLD) can help you buy any home that’s for sale on a Shared Ownership basis if you have a long-term disability.

You can only apply for HOLD if the properties available through the other home ownership schemes don’t meet your needs, e.g. you need a ground-floor property.

Older people

You can get help from another home ownership scheme called Older People’s Shared Ownership if you’re aged 55 or over.
It works in the same way as the general Shared Ownership scheme, but you can only buy up to 75% of your home. Once you own 75% you won’t have to pay rent on the remaining share.

Applying for a Help to Buy: Shared Ownership scheme

To buy a home through a Help to Buy: Shared Ownership scheme contact us on 0800 170 7474.

A great solution for people looking to get on to the property ladder with some help from their family


Joint borrower sole proprietorship mortgages

With the ever increasing struggle for first-time buyers to raise a deposit and manage the monthly repayments on their own mortgage, the Mortgage Marketplace just have the answer.

Joint borrower sole proprietorship mortgages are a great solution for young people looking to get on that first rung of the property ladder and who have family members who are willing to help them out just until they are earning enough to support the mortgage themselves.

This solution from some forward thinking lenders allows family members to join the mortgage so that their income can be used when assessing the case but there is no need for them to be added to the title deeds.  These lenders use their standard lending criteria and there is no need for any additional security such as savings to be taken as collateral.

This solution will also work for parents who own their own home and will not want to be caught by the increased stamp duty that could apply if they had to appear on the title deeds.  

Applying for a mortgage? Your credit score is crucial, take a look at this video.


When you apply for a mortgage, your credit score is crucial in getting your mortgage approved.

Your credit file also tells your lender your payment history and what you currently on your mortgage and all your credit agreements.

We will complete a full analysis of your credit file before you apply for your mortgage, guaranteeing no surprises.

Okay, let’s do the sums

Prefer we do the calculations? Just call us on 0800 170 7474


How wmuch can I borrow
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Repayment
Repayment Calculator
Stamp Duty
Stamp Duty

Why use Mortgage Marketplace?

What do our customers say?

Frequently Asked Questions


Do you operate in my area?
We serve the whole United Kingdom, from our office in Bristol. Everything can be done quickly and easy online and on the phone.
How does it work? What does a Mortgage Adviser do?
Initially, our advisers will provide you with research based on your current requirements and situation. This is without obligation on your part – that’s just how we do it.

If you find what we have sent of interest and wish to go forward, we will make a thorough assessment of your needs and recommend an appropriate lender and mortgage product for you. We will then approach that lender on your behalf, to gain a decision in principle and an indication of their willingness to lend.

We then manage your application through to completion, keeping you in the loop throughout. During this time we will review your Protection and Insurance needs and make recommendations where they are appropriate and relevant.
How much can I borrow?
Try our free calculators to get an indicative cost before calling:

Mortgage Calculator

Repayments Calculator

Stamp Duty Calculator
Are you whole of market? Independent? What does this mean?
We are a completely independent and whole of market Mortgage Brokers.

This means that we are not tied to any lender or third party, and we have access to the whole mortgage marketplace, allowing us to ensure we get you the best deal.
Why pay for mortgage advice?
We work for you. Not the lender, or anyone else.

When you pay for mortgage advice rather than using a ‘free’ service, or going direct, you can trust that everything we do is in your interest. Put it this way - whether getting a tattoo or a mortgage, always hire a professional.

Hiring a Mortgage Advisor takes a lot of the stress and time investment away, as we do the hard work for you - finding the best deal, submitting paperwork, speaking to lenders, and more.

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The Mortgage Marketplace