Talk to us about turning your home owner dream into a reality...
Do you have loads of questions? Feeling a bit daunted by the whole process? Let Asset Plus take the hassle out of getting you on the property ladder.
Where Should I Start?
Find out how much you can borrow before you start your property search.
Both you and your buyer need the confidence of knowing you can afford the property – and this simple thing could help you secure your dream property in a busy market.
What Else Should I Consider?
Do some research about the homebuying process and all the costs involved.
The costs of buying a house include deposits, fees, taxes, and moving costs. Knowing what money is required and when can take away a lot of stress through the process.
How Can We Help?
We’ll guide you through the homebuying process, help you calculate what you can afford, and set out all the costs involved.
We can also provide a “Decision in Principle” to show agents and vendors that you are in a position to buy – one of the most exciting steps!
Could Government support schemes help you?
Financial help may be available to help get on the property ladder.
Where Should I Start?
In order to help first time buyers, the government offers some incentive schemes.
A Lifetime ISA can help you save for a deposit by giving you a 25% bonus on savings up to £4,000 each tax year.
You must be aged between 18 and 39 and purchasing your first home up to a value of £450,000.
Full eligibility rules can be found on the gov.uk website.
What Else Should I Consider?
Shared ownership schemes offer the option to buy a share of the property and pay a rent to a landlord for the remaining portion you do not own with the option to purchase more or all of the remaining share in the future.
It is important to fully understand all the criteria involved in both the purchase and re-sale of shared ownership properties.
Talk to us today for our handy guides and our experts are on hand to provde the latest overview of the schemes and to see if you are eligible.
How Can We Help?
We have expert advisers that deal with the Help to Buy schemes and can guide you through them.
We can explain the incentivised savings schemes, and whether parents or guardians can help. And we can outline costs, recommend solicitors and source the most suitable mortgage for you – whilst also ensuring you have a back-up plan to keep you in your new home.
Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Knowledge / Understanding / Quality / Aspiration
These 4 key principles underpin all our dealing our philosophy and how we deal with all our customers. Asset + is committed to continual development to maintain and improve your client experience.
KNOWLEDGE Industry Experts
Did you know our team of advisers not only requires industry-regulated qualifications to provide advice, but must complete regular continual professional development to prove their industry knowledge is up to date?
We don’t stop there – we ensure that training is rolled to our administrators too, and encourage them to sit the regulatory exams to further their own development and bring on the next generation of qualified advisers!
UNDERSTANDING Understanding You
We need to know a lot about you.
That includes your financial history so we can see what is affordable and who would consider lending to you.
Then we’ll talk to you about the future so we can help you plan ahead. This means we get to know you really well and become part of your team to help you achieve your dreams.
QUALITY Service Moving with the Times
We use the latest technologies to help us deliver great customer service, and help you send us information and documents quickly, easily and securely.
But technology isn’t everything – it’s really important to us that you can speak to your mortgage adviser on the phone, on a video call or in person whenever you need to – no queues, no call centres. Just your own friendly adviser.
ASPIRATION Dreams into a Reality
We believe in dreams. We know they can come true! And our job is to help you find the way to finance your dream home and future lifestyle.
Whatever you are dreaming about, if it’s property-related, we can help. From your first home to becoming a landlord and even protecting your business, we’re here to be your partner along the way.
Don’t waste time with online mortgage calculators. At Asset Plus our experts know that the amount you can borrow is very much dependant on your own individual circumstances. Lenders will look at whether you are buying jointly, what you earn and what your monthly credit commitments are and often the amounts they will lend to you can vary greatly! By talking to Asset Plus before you start house hunting will give you the confidence you can afford that dream home!
There are 2 parts to this question:
What are the upfront costs and secondly what will my monthly commitments be? Upfront costs include a deposit, solicitors fees, survey and mortgage arrangement fees. There may be a stamp duty cost depending on current legislation and your own personal circumstances.
All these costs are calculated based on your own personal circumstances. Therefore rather than providing generic costs, pick up the phone and have a chat with our advisers to know accurate costs.
Assuming you have accumulated savings to consider buying your first home, your first step should be to speak to our experts at Asset Plus. We will guide you through the entire process, from working out what you can afford, providing the estate agents with proof of your affordability; known as an Agreement in Principle, to sourcing the right solicitor, we will be with you every step of the way.
Will I be accepted for a mortgage?
A lender will assess you on 3 areas; an assessment on your historic credit history and how you have conducted your finances, your affordability to repay the loan and the security of the property you are borrowing against. Across the whole of the market, every lender has individual application criteria that decides whether they will accept you for a loan. By providing full information to our advisers (see “What do I need to Supply”) our experts can review your information and recommend a lender that is most suitable for your circumstances.
Given the large sums of money involved in taking out a mortgage, and in addition to be able to provide a minimum deposit of 5%, lenders will require proof that you can afford to pay the loan. By being able to provide all this information from the start can speed up the application process.
Unfortunately there is not an exact answer to this. Many factors such as buying a leasehold property, being part of a large buying chain or even your vendor not having found a suitable property to move on to, can all cause delays within the home buying process. By using Asset Plus, we will work with you, the solicitors and estate agents every step of the way to get you into your new home as soon as possible.
“The bank of Mum and Dad” is becoming a very common option with property prices continually increasing. First time buyers needing the help of their parents or third party to fund a deposit, become a guarantor, or even taking joint mortgages. With lenders now recognising these requirements, not only for the first time buyers, but also keeping the options as flexible as possible for the parent or third party. Asset Plus can help you find the right options to suit your individual circumstances.
With legislation ever changing on government schemes including Shared Ownership schemes, it is best to get expert advice before you start to consider buying. From saving your deposit to Shared ownership schemes, let Asset Plus guide you through the eligibility rules.
Whether you are self-employed, a contractor, work for an agency or are starting a new job, there are lenders that will consider lending based on your circumstances. However, the mortgage market is continually changing, as is each lender’s criteria. Talk to our experts at Asset Plus, who remain up to date with the market and can find the right mortgage for you.
Lenders use credit history to not only look for adverse credit such as payment defaults, CCJ’s or Bankruptcy, but also to see your current financial commitments. With this information, every lender will consider whether they will lend and how much they will lend you in very different ways.
It is worth noting, however, that when most lenders access your credit report, it will leave a visible footprint. Too many of these – especially if you have been turned down – can have a negative impact on your credit score and subsequently affect how you are viewed by other lenders.
As an established brokerage for over 25 years our advisers are experts at keeping track of lenders strict eligibility criteria and can guide you to the right lender with minimum impact on your credit score.
A good place to start is by downloading your credit score for free at: Checkmyfile
Check My File offer you a 30-day free trial, which is £14.99 a month thereafter if not cancelled.
We receive a small referral fee from Check My File
As Independent Mortgage Brokers we can access the whole of the market, matching your individual needs with the loans on offer.
What our customers say…
As a first-time buyer Asset Plus have been excellent throughout the process.
"I was worried that I would not receive a a mortgage offer as I have a unusual situation but they fought on my behalf extremely well and explained every step which helped me stay organised. Sharon and her team are efficient, competent and genuine, I'd highly recommend them to anyone!"