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First Time Buyers

Introduction

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Buying a property is the biggest financial commitment most of us will ever make, so it is important that you understand the types of mortgage deal available before making a choice. Yourmortgage.co.uk explains them all: fixed rates, variable rate mortgages, tracker deals and more.

Happily, there are plenty of these mortgages on the market aimed squarely at first-time buyers.

If you do manage to squirrel away the 5% of a property’s value, there are now a number of mortgage lenders willing to lend up to 95% loan-to-value (LTV) mortgages. Others offer guarantor homeloans that allow parents or other family members to underwrite your mortgage, or collective arrangements where family finances can be pooled to help you get on the property ladder.

The government also offers assistance in the form of Help to Buy and other schemes.

 

How to

How to get government help

If you are a first-time buyer struggling to get onto the property ladder, help c...

How to save money with a flexible mortgage

With a flexible mortgage you can overpay, underpay, take payment holidays and bo...

How to get your mortgage application accepted

Getting a mortgage application accepted is a lot tougher than it used to be, so ...

Insure4you: Help finding the right insurance for homebuyers

Buying your own home can be an exhausting and expensive process, but luckily we ...

How to spot problems when buying

Buying a house is one of the most important decisions you will ever make – bot...

Help for first-time buyers

 Over half of first-time buyers need a leg up onto the housing ladder from thei...

Guides

Guide to interest-only mortgages vs repayment mortgages

Before you go looking for a mortgage or remortgage deal, you need to decide how ...

Guide to flexible mortgages

A truly flexible mortgage allows you to do the following:

Guide to fixed-rate mortgages

Fixed-rate mortgages are fairly popular in the UK. As the name suggests, they al...

Guide to mortgage basics

Taking out a mortgage is probably the biggest financial undertaking you will eve...

The buying process

A step-by-step guide to purchasing property.

Guide to discount mortgages

We all love a good discount - there is a certain satisfaction to be had from kno...

News

Housing market 'impeding social mobility'

Many first-time buyers are reliant on the Bank of Mum and Dad to give them a leg...

Trio of Yorkshire lenders launch new mortgage offers

From rate cuts to cashback incentives, Monday morning has seen a slew of new mor...

Nationwide launches new Family Deposit Mortgage

The mutual is enabling those with equity in their homes to access it to help fam...

Mission impossible: Buying a home as a singleton

One in four young people think it would be impossible to buy a home without a pa...

Homebuying dropped in January

The value of homebuying fell sharply in January compared to December, as £8.4bn...

Sellers return to the housing market

The number of new properties listed across the country was up 13.3% in February ...

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Speak to an adviser

As a first-time buyer, if you would like free, impartial mortgage advice, read on.

Use Stamp Duty savings to pay down debt, 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.

Interest rates set to stay at 0.5% till November

Interest rates will not rise before the summer, and probably not until November, according to economists.

More from Your Mortgage

How to understand Help to Buy one and two

The Help to Buy scheme was announced by the Government in March 2013. The Help to Buy scheme aims to help a range of different types of buyers, and is made of two components:

How to insure your mortgage payments

Mortgage Payment Protection Insurance (MPPI) covers your mortgage payments in the event of your being unable to work due to an accident, sickness or unemployment, so it is also known as ASU.

How to repair a damaged credit record

If you have a bad credit rating, it makes sense to set about improving it as soon as you can.

Speak to an adviser

Could you benefit from impartial, free advice?

Your Mortgage Guides

Guide to Offset Mortgages

Download our handy guide to offset mortgages, brought to you in partnership with Scottish Widows Bank

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Is your mortgage fully protected with critical illness?

For a free quote or to speak with an insurance expert call 0800 1218744