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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 find the ideal first-time buyer mortgage

If you are buying your first property, follow these commonsense rules for a succ...

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...

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

Five changes that could help first-time buyers onto the ladder

Longer fixed-rate mortgages, more affordable housing and less stringent mortgage...

Over seven of out 10 first-time buyers prefer a mortgage broker

Broker share of first-time buyer lending surges over the last five years

First-time buyer? Now could be the time to get a bargain

First-time buyers are capitalising on the December housing slump and buying whil...

£33K – that’s the average deposit now put down by first-time buyers

Deposits have doubled in the last 10 years but the number of first-time buyers h...

First-time buyer rates start to fall, despite interest rate hike

First-time buyer rates are falling, despite the recent hike in the Bank of Engla...

Just 387 London homes exempt from Stamp Duty for first-time buyers

On the face of it, first-time buyers may have been one of the biggest beneficiar...

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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.

Get your head around mortgage fees

The mortgage fees associated with taking out and paying off a mortgage have tripled in the...

The pros and cons of interest-only mortgages

Interest-only mortgages get you off the mark, but no closer to your destination, as Christ...

Average inheritance is £119,000

Two thirds of Brits plan to leave an inheritance and a fifth of us expect to recieve one...

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators

Save money now!

See how much you could potentially save by remortgaging to a different product

How much can you borrow?

A calculator designed to help you understand how much you can borrow towards your property