First-Time Buyers in Liverpool

Being a first-time buyer can be both exciting and daunting at the same time - however, with a quality mortgage broker, the process is sure to be much easier. 

Help To Buy schemes are in place to aid those looking to buy their first home. With a Help To Buy ISA, you can receive up to 20% of the property’s value as an equity loan from the Government, with the rest being taken out of your deposit and the help-to-buy mortgage. For example, you’ll be paying a 75% mortgage, a 20% equity loan, and an affordable 5% deposit. 

There are certain eligibility criteria to consider with Help to Buy schemes - with the key criteria being that you are a first-time buyer.  The loans are often only available for new-build properties that are valued at an amount under £600,000. 

If you’ve used a Help to Buy ISA to fund your purchase, you can’t buy another home with the scheme. Likewise, you will be unable to sublet or part-exchange the property.

Buying to Let in Liverpool

A buy-to-let mortgage is a mortgage for landlords - a mortgage that enables you to purchase a home for the sole purpose of renting it out to tenants. 

If you’re considering buying to let in Liverpool, you should know that it’s a great place to do so. With multiple universities attracting thousands of students, booming businesses attracting young professionals, and many families looking to rent properties, Liverpool is a buy-to-let hotspot. 

However, there is plenty to consider when opting for a buy-to-let mortgage in Liverpool. For example, you should consider the rental yield - how much income will you make from rent? Will it be enough? You should also consider completion, which can include Stamp Duty Costs. 

Insurance is essential for landlords - whether it be landlord insurance, building insurance, or content insurance. 

At LTC Mortgages, we can find the best buy-to-let mortgage in Liverpool for you. With our quality advice and endless connections, the process is sure to be much more straightforward.

Considering The Costs

Compared to many other cities in the UK, Liverpool house prices are considered relatively low. That being said, it’s still essential to consider the costs of purchasing a property in Liverpool - from the deposit and mortgage payments to the conveyancing fees. 

Here is a list of some of the main costs you need to consider when purchasing a property, whether you’re a first-time buyer, you’re simply moving home, or you’re buying to let:

• The deposit - can vary from lender to lender, although many people use a 10% deposit
• Mortgage payments - depend entirely on the cost of the property, and include interest
• Stamp Duty - applies to residential properties valued over £250,000
• Insurance - protects yourself and your property 
• Surveyor fees - gives you an understanding of any potential issues with the property
• Conveyancing fees - the legal transfer of the property using a legal appointed representative which can cost between £850 and £1,500

There are many other costs that can come with purchasing a property. This is something that a qualified mortgage broker in Liverpool can help you to understand. Read on to learn more.

Find The Right Liverpool Mortgage Advisor

Regardless of whether it’s your first time buying a home or you’re growing your property portfolio, having the right mortgage broker is important. 

At LTC Mortgages, we can save you time, effort, and money. We can find the best mortgage deals for you with the most competitive rates and help you take control of your mortgage application. 

We’ll guide you through the process step by step, and be by your side throughout the process. If you’re considering buying a house in Liverpool, contact us by visiting our registered office in Liverpool, by calling 0151 662 0188, or by emailing us at [email protected].