Help to Buy mortgage brokers in Brighton
5 independent, FCA-authorised advisers covering Brighton and the wider South East area who handle Help to Buy mortgage cases. Contact them directly — we never sell your details.
Compass Mortgages
Brighton
Mortgage Saving Experts | Mortgage Broker
Brighton
Oakdene Mortgages | Brighton & Hove Mortgage Broker
Brighton
The Mortgage Store Wolverhampton
Wolverhampton
UKFCS Mortgage Specialists
Brighton
Help to Buy mortgages in Brighton: what to know
The Help to Buy equity loan scheme closed to new applications in England in 2023, but a large number of households in Brighton still hold one and need advice on remortgaging, staircasing or repaying it. Shared ownership and the mortgage guarantee scheme continue to serve a similar purpose for buyers with smaller deposits. Advice here is mostly about managing an existing equity loan rather than obtaining a new one.
- Help to Buy equity loans were interest-free for the first five years. After that, interest begins and rises annually, which catches out households who have not planned for it.
- You repay a percentage of the property's value, not the original cash amount, so a rise in value increases what you owe.
- Not every lender offers remortgage products that sit alongside a Help to Buy equity loan, which narrows your options at the point you most want to switch.
- Repaying the loan requires a RICS valuation, and there is a fee, so plan the timing rather than being forced into it.
What matters locally in Brighton
The seafront and central districts — Kemptown, Brunswick, Montpelier — are dominated by Regency and Victorian townhouses converted into flats, much of it listed or in conservation areas, and much of it with shared freeholds or short leases. Hanover and Fiveways are terraced streets with strong owner-occupier demand; Hove, Preston Park and Withdean hold larger houses at higher values. Portslade and Whitehawk sit at the more affordable end. Two universities support a large student rental sector concentrated in Lewes Road and Moulsecoomb. Cliff and chalk ground conditions, and coastal exposure, produce more valuation caveats here than in most cities.
- Severe affordability stretch, which pushes buyers towards joint applications, longer terms and lenders with more generous income assessments.
- Freelance, creative and self-employed income, which is heavily represented locally and assessed very differently across lenders.
England
Buying here follows the England and Wales process: you pay Stamp Duty Land Tax on the purchase, with a surcharge on second homes and buy-to-let, and neither side is committed until contracts are exchanged. Most flats are leasehold, so the length of the lease, the ground rent and service charge, and any outstanding cladding or fire-safety paperwork all affect which lenders will accept the property as security. A broker will usually ask about the tenure before anything else when you are buying a flat.
I am freelance in Brighton — can I still get a mortgage?
Yes. Two years of accounts or tax calculations is the usual requirement and some lenders will work with one. Which figure they use matters as much as how many years: for a company director some lenders take salary plus dividends while others will include retained profit, which can substantially change what you can borrow on the same business.
Questions worth asking a help to buy broker
- Can I still apply for Help to Buy in Brighton?
- The Help to Buy equity loan scheme closed to new applications in England in 2023. Shared ownership and lender products aimed at 5% deposits are the closest equivalents now available.
- How do I remortgage with a Help to Buy equity loan in place?
- You can remortgage while keeping the equity loan, but the pool of lenders is smaller than for a standard remortgage. You will need consent from the equity loan administrator, which takes time and should be started early.
- When do I start paying interest on the equity loan?
- Interest starts in year six at 1.75% of the outstanding loan, rising each year thereafter. It is charged on the loan, and paying it does not reduce the amount you owe.
- Can I repay part of the equity loan?
- Yes — this is called staircasing, and you can usually repay in tranches of 10% or more. You will need a RICS valuation, because you repay a share of the current value rather than the original sum.