Our Top Rated Advisers love helping first time buyers like you. We will stay by
your side from start to finish and have options available for everyone!
Your first home awaits
Simple Mortgage
If you have 10% or more deposit available, we consider this to be a Simple Mortgage. These mortgages are straight forward, easy to understand and often the best value for money!
95% LTV Mortgage
This type of mortgage allows you to buy a home with just a 5% deposit
First Time Buyer Government Schemes
5% deposit Mortgage Guarantee Scheme
This helps first time buyers and some existing homeowners afford to buy a home with a deposit as small as 5%.
This is also known as a 95% LTV mortgage.
Help to Buy Equity Loan
If you’ve got a 5% deposit, you can borrow 20% of the remaining balance from the government. This is instead of taking out a 95% mortgage. This is called an equity loan.
This should lower your mortgage repayments.
The interest rate of an equity loan is usually lower than for a mortgage.
Shared Ownership
With Shared Ownership you buy a share of the property and pay rent on the rest.
Lifetime ISA
You can use a Lifetime ISA (Individual Savings Account) to buy your first home or save for later life. You must be 18 or over but under 40 to open a
Lifetime ISA.
You can put in up to £4,000 each year, until you’re 50. You must make your first payment into your ISA before you’re 40.
The government will add a 25% bonus to your savings, up to a maximum of £1,000 per year.
The First Homes Scheme
This will help local first-time buyers – many of whom will be key workers like NHS staff and veterans – onto the property ladder by offering homes at a discount of at least 30% compared to the market price.
FAQs
How parents can help
Many first-time buyers get help from their parents to buy a home. This is because of the big difference between the rise of house prices and wages.
There are lots of ways that parents could help you buy a home with some very low rates.
We can give you free advice about which could suit you best if your parents are helping you.
How much can I borrow?
As a general rule most lenders will allow you to borrow x4.5 your annual salary however we have access to lenders that can consider up to x5.5 your salary.
What is a Mortgage In Principle?
A Mortgage In Principle is confirmation of how much you can borrow. You can download yours in minutes here.
What are Government schemes for first time buyers?
These schemes are to help first time buyers get on the property ladder, including the mortgage guarantee scheme, Help to Buy Equity Loan.
How can I buy a home?
We have put together a 10 step guide on how to buy your first home from start to finish! (link How to buy your first home)
Get mortgage ready in just a few clicks!
Find out exactly what you need to do next.
