First time buyer mortgage

Let us find the juiciest quote for you

With so many deals to choose from, finding the right first time buyer mortgage can be confusing.

However, as a first time buyer you can enjoy some great money-saving offers, with extras and incentives from cash-back to 3-year fixed rates. First Mortgage can find the right first time buyer mortgage for you. Our service is free, impartial and brings you the best mortgages from over 150 different UK lenders.

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Which type of first time buyer mortgage?

As a first time buyer, you may have lots of questions about how to get a mortgage and which type suits you best. For example, should you choose a fixed rate, a discount, capped or tracker mortgage? We can help you understand the difference between the various offers, and help you secure a mortgage that fits your circumstances. Here are some of the main mortgage types and ways to repay that you might want to consider:

 Fixed - pay a set rate of interest for an agreed period

 Tracker - your interest rises and falls in line with bank interest rates

 Discounted - offers a small discount on the lender’s standard variable interest rate

 Flexible - vary your monthly repayments

 Capped - your interest rate won’t rise above an agreed level for a set period of time

 Current account - these combine a banking account with a mortgage, allowing you to make overpayments and receive daily interest changes

 Offset - hold all of your other borrowings with the same lender

Special first time buyer mortgages

Because getting on the property ladder is becoming increasingly more difficult, there are several types of agreements tailor-made for first time buyers. Our new Family Equity Loan Plan is designed to let parents help their children while not having to gift large sums as a deposit. Other options include shared ownership, 100% or no deposit mortgages, guarantor arrangements or housing association co-purchases. Often you can find mortgages offering up to 5 times your salary.

Call us on 0845 603 1525 for a FREE consultation with one of our friendly and experienced team. We are happy to discuss your situation and help you choose the best option.

Mortgage and property resources:

Financial Services Authority | BBC Your Money | UK Government Consumer Information | Council of Mortgage Lenders | Citizens Advice Bureau

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