First Time Buyer Mortgages

Welcome to the First Time Buyer Mortgages page, buying a house is probably the largest purchase you will make in life so you need to make sure that you do it right, it is also a very expensive process so any help you can get along the way can be very valuable. This is where a first time buyer mortgage comes in as they are tailored towards the first time buyer so often have incentives and require a lower deposit so can be a real help when buying your first home.

It is becoming ever harder to get onto the property ladder so it is a good thing that mortgage lenders are offering additional help to first time buyers with first time buyer mortgages as many people would simply never be able to afford a house if it were not for first time buyer mortgages. They often have incentives which can save the first time buyer allot of money such as paying your valuation fees and offering lower interest rates for period of time so that your first mortgage repayments are cheaper.

When applying for a first time buyer mortgage you can usually borrow three and a half times your annual income or for a couple two and a half times your joint income but rates are negotiable so you can often find first time mortgage deals where you can borrow more.

The mortgage market can be very confusing as there are all kinds of different mortgages available, there is help at hand though in the form of mortgage brokers who know their mortgages inside out and can help you find the ideal first time buyer mortgage for your needs. You can also use the Internet as this has lots of comparison tools that can allow you to find the cheapest first time buyer mortgage deals so using one of these methods can be effective in finding the best deals.