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First Time Buyers
Introduction
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
First-time buyer mortgages hit highest level since June 2017
As landlords shy away from buying more properties, first-time buyers are making ...
Bank of Mum and Dad will lend, but with strings attached
Parents are getting tough on terms and conditions when it comes to helping their...
Cheapest local homes are out of reach for 40% of young adults
In the last 20 years it has become much harder for younger people to get onto th...
Young people’s homeownership and saving rates significantly down
No money to save, no money to buy a home - young people struggle to gain financi...
Property trumps pensions for millennials
Saving for a deposit is prioritised over putting money away for old age by under...
Lender rate war sees 95% mortgage deals hit record low
An increase in competition for low deposit borrowers has driven down mortgage ra...You may also like
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.Most Read
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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
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