First-time buyers

First-time buyer mortgages have been hard to secure recently, as anyone looking to get on the property ladder will know.

But there are first-time buyer mortgages on the market aimed squarely at you, so don’t despair. Mortgage lenders usually require bigger deposits from first-time buyers than they did in the past, but many have specific solutions which allow families to help out.

The Government also offers assistance in the form of first-time buyer schemes such as Help to Buy, Firstbuy and NewBuy.

yourmortgage.co.uk explains the details of first-time buyer mortgages, as well the latest relevant mortgage news.

Use our mortgage calculators to work out how much you can afford to borrow and how much you can expect to pay to a lender for your mortgage.

And if you are feeling bewelidered or need a helping hand, just click here and an independent, fee-free mortgage adviser will contact you to discuss your needs.

 

Gingerbread House

Skipton slashes rates on three and five-year fixes

Skipton Building Society will reduce interest rates on all of its current residential three and five-year fixed rate mortgages tomorrow.

A view of fields in the Devon countryside

Homes within national parks command 21% price premium

House hunters purchasing homes within the boundaries of a national park have to pay a premium of £39,000 on an average home worth £188,810 - 21% more than an otherwise identical property.

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UK property prices fall while buyer confidence rises

The UK has seen the largest ever monthly fall in property prices across the country, as fewer sellers feel they have the upper hand.

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PM launches discount home scheme for 100,000 first-time buyers

The Prime Minister is set to launch a consultation into a scheme targeting those under 40 who have never owned their own homes.

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Use extra Stamp Duty cash to pay down mortgage, urges Barclays

Borrowers should resist the temptation to spend their unexpected Stamp Duty savings on new furniture or clearing post-Christmas card debt and focus on their mortgage, said Barclays' head of lending Andy Gray.

edinburgh

Expect Q1 Scottish mortgage lending spike

The market could see a spike in Scottish mortgage lending in the first quarter of 2015, according to Barclays Bank.

The Bank of England

Strong fixed rate lending buoying market

Fixed rate lending is leading a surge in mortgage market lending, according to the Bank of England (BoE).

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Platform launches its lowest ever fixed rate

Intermediary lender Platform has launched its lowest ever residential two-year fixed rate mortgage at 1.64%.

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Lloyds extends iPad offer

Lloyds Bank has extended its offer of a free iPad for first-time buyers and homemovers on completion of their mortgage.

George Osborne

Osborne scraps Stamp Duty slab structure

The slab structure of the Stamp Duty Land Tax was scrapped at midnight and has been replaced with new layers of tax rates which will lower the cost of buying a home for 98% of the country.

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Borrowers taking out longer-term mortgages doubles - CML

Longer working lives and affordability pressures are resulting in a shift away from traditional 25-year mortgages to longer-term products, CML research has shown.

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Help to Buy backs over 66,000 mortgages since April 2013 launch

The government's Help to Buy mortgage guarantee and equity loan schemes combined have helped more than 66,000 households across the country since inception in April last year.

Chancellor of the Exchequer George Osborne

UK Stamp Duty structure could be reviewed in Autumn statement - Berenberg

An economist speculated the slab nature of UK Stamp Duty Land Tax could be targeted for reform in this week's Autumn Statement, after the Scottish Government created a graduated property tax earlier this year.

The Bank of England

October house purchase approvals fall 3% - BoE

The number of house purchase approvals fell by 3% month-on-month in October from 61,267 to 59,426, the Bank of England's mortgage lending data has revealed.

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Bank house purchase approvals fall 16% in October

Bank mortgage approvals for house purchases fell by 16% in October compared to the same month last year bringing the number of new homeloans agreed to 42,830.

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If you have a question about mortgages or homebuying, why not ask Editor in Chief Paula John?

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