Buying a house for the first time?
You’ve managed to get a deposit together, be that from your own savings, a gift from family, or a combination of both. You feel that you’re ready to buy a place of your own, but as a first time buyer, where do you start on your homebuying journey?
Get Started
Don’t be confused by ‘First-Time Buyer’ mortgages. Lenders promote these to people who are purchasing their first home, or at least their first home for at least for a few years.
You don’t have to take out a ‘First-Time Buyer’ specific mortgage, in fact you can choose from a whole range of mortgages offered by lenders.
Finally, don’t feel pressured into speaking with an estate agent’s mortgage adviser before viewing properties to establish your affordability or credit worthiness. We can do all the affordability checks that you’ll need and can provide you with an agreement in principle from a lender prior to you viewing properties.
FREE Homebuyers Guide
Just enter your name and email address, and you can download a copy of our Homebuyers Guide.
Includes a step by step planner, the buying process, the costs involved, case studies, useful tips and essential contacts.
So, how is a First-Time Buyer mortgage different?
The fees charged by lenders may be less and there may be some sort of cashback paid by lenders. On the face of it these look appealing, but sometimes the rates charged are higher, which can wipe out the perks.
All the usual product types are included within First-Time Buyer mortgages, such as fixed rates, tracker rates etc.
This is your first home purchase, and you might think of yourself as being a novice, but you’ve made the right start in seeking advice and doing your research. These two things alone will give you at least as much knowledge as anyone else.
We arrange lots of mortgages for first-time buyers and we like to think that we take the time to answer any questions we’re asked in easy-to-understand language. Everyone was a first-time buyer at some point, and we understand the fear and anxiety of starting out on the homebuying journey.
Complete the form to Get Started
There may be a fee for arranging a mortgage and the precise amount will depend on your circumstances. This will typically be up to £450.
Your home may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Mortgage Response is a trading name of The Mortgage Shop (UK) Ltd which is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.
The Mortgage Shop (UK) Ltd Financial Conduct Authority register number: 951591
Registered Office: 6 Wellington Place, Belfast. BT1 6GE
Registered Company Number: NI26842 Registered in Northern Ireland
Mortgage Response registered office: 23 Beach Road, Caister-On-Sea, Great Yarmouth, England NR30 5ER