Where to Get a Great Mortgage Deal in Chelmsford

A Look at the Deals Available


Chelmsford is one of the top property hotspots in the south east. Now could be the perfect time to get on the property ladder.


Chelmsford has always been a popular place to live for commuters, thanks to its great transportation links into the capital. However, since achieving city status, this historic town has undergone something of a transformation, and is far more than just a sleeper community.


Whether you are a first time buyer or are looking to remortgage an existing property, the buoyant property market in Chelmsford means that there is no shortage of mortgage deals available, and mortgage brokers Chelmsford will be able to guide you towards the product that is best for your specific circumstances. Here are a few examples of what is on offer.


First time buyers


The press is full of doom and gloom about how younger people are being forced to rent and cannot get onto the property ladder. However, you shouldn’t always believe everything you read in the papers.


Government initiatives such as the Help to Buy scheme can provide that leg-up you need to get started, while many lenders have special deals aimed specifically at first time buyers, with reduced deposit requirements and cashback options. The exact deals on offer change every month, which is why it is important to sit down with an independent advisor to find out exactly what is available.


Buy to let


Over the past decade, property is one of the few investments that has consistently provided reliable yields year on year. When your parents said there is no better investment than bricks and mortar, they knew what they were talking about! With a strong university community, Chelmsford is a popular place for private landlords to buy investment properties, and while the rules are broadly the same as for a regular mortgage, there are some key differences when it comes to deposits, interest rates and repayment terms.


Property represents a fabulous investment, but if you are going into it for the first time, it is vital to get expert advice, as the right mortgage deal can make a big difference to your overall yield.


Bad credit


The credit crunch took its toll on most of us, and if your credit score is not at its most healthy, you might think you’ll never be able to get a mortgage. This is particularly the case if you have already been up and down Chelmsford High Street and spoken to one bank after another, only to be politely shown the door.


Don’t despair, things are not as bad as you think. The good news is you are not alone – there are thousands of people with bad credit who want to buy homes, and this has led to a rise in specialist lenders creating mortgage products aimed specifically at them.


Here, there is an even greater variability in the types of mortgage deal and the interest rates on offer. It depends on exactly how bad your rating is, whether you have a regular income, the size of the deposit you can put down and a variety of other factors. As ever, the best advice is to sit down with an expert and go through the options one by one.

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