Mortgage Advisor Belfast
Expert Advice From Start To Finish
4.7/5
4.9 ( 128 Reviews )
CALL 028 9503 0335
207 LISBURN ROAD SUITE 3
Homebirds award winning team of mortgage advisors in Belfast cover first time buyers, people wanting to re-mortgage and those moving home. We can service all your needs from mortgages, insurance and protection across Northern Ireland Free expert advice is available 24/7 through our online chat system covering everything from mortgages, house viewing, making an offer and the legal stuff.
FIRST TIME BUYER GUIDES
Money Matters
We cover finding out what you can afford and how much the process costs.
House Stuff
Here we learn about viewing properties and tips on how to make an offer.
The Process
The full A - Z of buying a house in a nice simple and easy to follow timeline.
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Chat With Hanna
Our homebirds bot Hanna will help you find out how much you can afford and answer any queries you may have. Clicking "Lets Chat" will open a messenger conversation.
REVIEWS
What people say?
homebirds have been a great help when we were starting out to buy our first home, they were very quick in responding to all our queries and submitting our information and getting our mortgage approved!
couldn't be happier with their service.
A great source of impartial advice on every part of the first time buyers journey. Hanna bot was very helpful answering any queries I had. Would recommend this company to anyone looking for advice on buying their first home.
FAQ
We have the most streamlined service in the industry and are the first to utilise Facebook messenger to facilitate your application process, making it fast and effieicent, it will only take two minutes to complete the queries and we will contact your the following day with or recommendations.
Apart from being the easiest to submit your details we will supply you with a Decision In Principle within 24 hours, this means that not only will you know how much you can afford to bid on a property but also make an OFFER!
Our quizz will only take a couple of minutes. For us to give you exactly whats affordable we require your yearly wage, address and information on any loans.
Contact any of the team on clicking messenger bubble
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Top 10 Mortgage Advisors Belfast
About
Our mission is to make your first home purchase as easy and headache free as possible.
We have put together guides on every part of the process under the main sections MONEY MATTERS, HOUSE STUFF and THE PROCESS.
Each section has a timeline you can scroll through and click on the bits you want to learn about.
If you would like to find out what price of home can you afford homebirds pride ourselves on our frictionless QUIZ which will give you a Mortgage Promise in 24 hours. Using a unique combination of cutting edge technology and industry-leading experts, homebuyers can, for the first time, be sure they are getting the best deal for them.
Whether you’re a first-time buyer, you’re moving, remortgaging, or simply taking back control of your finances, a mortgage is a big decision – it’s no surprise that 4 out of 5 people seek advice from a broker.
Unlike a traditional broker, our technology analyses every mortgage on the market from over 90 lenders to find the best one for you in seconds. Once we find you the right mortgage, we’ll be with you every step of the way. You’ll have a dedicated mortgage broker in Belfast who will keep you updated with the progress of your application from start to finish, and Hanna bot will always be available in messenger to answer your questions. You can contact us here
Mortgage Broker Belfast First Time Buyers
Getting a mortgage for the first time can be both confusing and challenging. So many different types of deals available and how much you can borrow.
These aren’t the only issues first time buyers have to worry about. Thanks to steep property prices in many areas of the country, many first time buyers only have a small deposit to put down which can restrict their options.
Introduction to first time buyer mortgages
Your mortgage is likely to be your biggest monthly outgoing, so it’s important to get it right first time round and seek expert advice!
When you take out a mortgage, you are basically borrowing an amount from a lender to pay for your property purchase. Like any other type of loan like your car etc , you make monthly repayments to pay off the capital you’ve borrowed as well as the interest charged. Some are interest-only rather than repayment mortgages, whereby you only pay interest back each month, and you don’t repay the capital lump sum borrowed until the end of the term.
The amount of interest you will pay depends on what deal you have taken however interest rates are at an all time low and the interest rates are very competitive.
If you can afford to save a bit longer for a bigger deposit the more mortgage options you will have.
Remember that when choosing a mortgage, it’s important not to look at the rate alone. You will need to factor in arrangement fees too, as these can sometimes substantially bump up the overall cost.
You can see which deals you may qualify for based on the size of the deposit you have saved by looking at what is known as the loan to value. The LTV is essentially the size of the mortgage you are taking out relative to the value of the property. So, for example, if you were buying a house costing £100,000 and you have a £5,000 deposit to put down, you’d need to look for mortgages with a 95% LTV, as you will be borrowing 95% of the property’s worth.
How to get a mortgage as a first time buyer in Belfast
There are several steps you can take to boost the chances of your mortgage application being accepted.
First, establish how big a mortgage you can afford. Lenders will look closely not only at how much you earn, but also at all your other outgoings like car payments, child maintenance etc, so if you can reduce these in the run up to making your application it could help your chances. You’ll usually be able to borrow around four to five times your income, but this can vary from lender to lender.
Another factor is how long you want to repay your mortgage for. Generally they are 25 years, but it is sometimes possible to opt for a longer term which will mean cheaper monthly payments as you are spreading the cost over a longer period of time however you will end up paying more interest overall!
Getting a ‘mortgage in principle’ from a lender can be a good way to find out how big a mortgage you might be able to get before you make a full mortgage application. Your broker will be able to sort this out for you and involves processing some details about your finances.
After a credit search they will give you a mortgage amount they would be prepared to lend ‘mortgage in principle’. This is something an estate agent will ask to see before you can arrange to view a house. Once you find your dream house it’s time to make an offer !!
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Belfast
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South Belfast
East Belfast
Moira
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What is “remortgaging” ?
Remortgaging is an option that more and more people are taking in order for them to change their existing deal and save money.
A mortgage can last many years, and it is important to think about your financial options thoroughly. The decisions you make when remortgaging are just as important as when you decided on your original deal.
Even if you have had a mortgage for years, you may still be unsure about the potential benefits of changing lenders and exactly what happens when you remortgage.
There are lots of different options available.
In essence, remortgaging is the act of switching your existing mortgage to a new deal, either with your existing lender or a different provider. You’re not moving house and the new mortgage is still secured against the same property.
The more equity you have and the lower your loan to value (LTV), the more competitive the rates you’ll qualify for.
There can be any number of reasons for making the switch, including:
Raising money to carry out home improvements
Consolidate your debts
Cheaper monthly payments
To reduce the interest rate on your mortgage
To fix your monthly payments and protect against possible future rate rises
Raising a cash lump sum by releasing equity from your home
Taking a new interest rate could really save you money by taking advantage of a new offer. Another popular reason to remortgage is the option to consolidate all of your debts into one payment – however, be aware that as this means securing more debt against your home it may cost more in the long run, and it’s something you should seek advice on.
Releasing equity from your property can be a good way to raise a cash lump sum, provided you can afford the new repayments.
Why do people remortgage?
There can be various reasons for remortgaging. Usually that means a cheaper interest rate but it could be that a different mortgage package suits you better – perhaps you want to fix the interest rate you pay.
It used to be that people took out a 25 year mortgage and stuck with the same loan for 25 years until it was paid off. These days people switch from one lender to another when they can get a better deal an save hundreds every month.
If you have enough equity in your home – that is, the mortgage is quite small compared to the property’s value – you can remortgage for more and take out some of the equity in cash.
Lenders are very competitive and there are hundreds of offers to choose from so it’s worth checking out the market regularly to make sure you’re not paying more for your mortgage than you need. This simple action could save you thousands of pounds in interest over the life of your mortgage.
Remortgage process
The remortgage process is less involved than buying a new home and it may be easier than you think. However, it is still a decision that deserves a lot of thought before going ahead.
A good place to start is to think about what you’re hoping to achieve by remortgaging. For example, are you looking to save money by getting a lower interest rate than you’re currently paying?
If your initial deal has ended or is about to end, remortgaging can help secure the best new deal and potentially save you money.
However, there are other costs that need to be considered when remortgaging. You may be charged set ups cost for your new deal such as an arrangement fee, valuation fee or legal fees, however lenders will often offer deals with low or no up-front costs, ask a homebirds broker to advise on these matters.
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207 Lisburn Road Suite 3, Belfast,BT9 7EJ
028 9503 0335
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