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What are your mortgage options as a first-time buyer?

As a first-time buyer, you have access to the full range of mortgages on the market, plus exclusive first-time buyers deals and government schemes such as Help to Buy and Shared Ownership.

Help to Buy makes it easier for first-time buyers to get on the property ladder. Available on new-build properties up to the value of £600,000, the scheme allows first-time buyers to secure a home with just a 5% deposit and 75% mortgage. The government provides a loan for the remaining 20%, which doesn’t have to be paid off for the first five years.

With Shared Ownership, first-time buyers can buy between 25% of 75% of a property’s value – either using a mortgage or savings – and pay rent on the remaining share. They then have the option of buying a larger share when they can afford it.

Mortgagemove can assist any first-time buyer looking to purchase a home through Help to Buy or Shared Ownership.

Key considerations when buying your first home

You need to know how much you can borrow, and that means applying for an Agreement in Principle (AIP). Do this before you have your heart set on a property  to avoid missing out. An AIP isn’t a guaranteed mortgage – the final offer will depend on more stringent financial checking – but it’s an indication of how much you have to spend on a property.

Make sure you have enough money behind you to cover the costs attached to buying a property. You’ll need money for:

  • a deposit; the more you can put down, the less you need to borrow (this can make it easier and cheaper to get a mortgage).
  • additional costs like surveys and legal fees.
  • appropriate mortgage protection cover.
  • home and contents insurance.
  • stamp duty if over £300,000.
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Step 3
01

Tell us about you

Complete our new client discovery form online and let us know the most convenient time for our advisor to call you.

Step 2
02

We'll find you the best deal

A short introductory call with our advisor will establish the lenders available to you, and present a range of suitable options.

Step 1
03

In safe hands

We manage the entire mortgage process from application to completion and are always on-hand to assist your estate agent or conveyancer.

Step 4
04

Keeping you cost-effective

We track your mortgage throughout the term and will contact you before it’s time to remortgage onto a better deal.

Our full range of services

  • First-time buyer
  • Home mover
  • Remortgaging
  • Buy to let (own name)
  • Buy to let (ltd company)
  • Holiday let
  • HMO
  • Student let
  • Help to Buy (equity loan)
  • Shared ownership
  • Right To Buy
  • Self-build
  • Bridging finance (residential)
  • Bridging finance (commercial)
  • Development finance
  • Portfolio buy to let
  • Lending into retirement
  • Retirement interest-only
  • Equity release
  • Second charge
  • Secured loans (residential)
  • Secured loans (buy to let)
  • Home improvement
  • Product transfer

Mortgage Calculator

Get a quick estimate of your mortgage repayments with our useful mortgage calculator. Please note this is for guidance purposes only.