Compare the best first time buyer mortgage products for free

First Time Buyer Mortgages

Considering a first time buyer mortgage?  Let Totally Money take the hassle out of your first time buyer mortgage search.  Complete the form on this page and we will connect you with an independent mortgage expert for first time buyer mortgage advice tailored to your specific circumstances. 

If you are looking for a first time buyer mortgage there are many options available to you.  As the price of property has increased in the UK over the last decade, mortgage providers have reflected the changing needs of first time buyer mortgage seekers in their mortgage ranges, and as a result there are many first time buyer mortgage products designed specifically to make the transition onto the property ladder as affordable as possible. 

Having a significant deposit is often the most difficult aspect of finding a first time buyer mortgage.  Without a deposit, most traditional mortgage products are not an affordable solution, and many first time buyer mortgage seekers are utilizing alternate first time buyer mortgage options – such as buying property with zero deposit thanks to the increased availability of 100 percent mortgages.  These are well suited to first time buyer mortgage hunters, as they require no deposit, and allow the buyer to borrow 100% of the property value.  While these are a good option for those with no deposit, they do present other issues that should be understood by first time buyer mortgage hunters.  These include Higher Lending Charges, increased interest rates, and the dangers of negative equity if the value of the property were to decrease below the mortgage amount. 

Other options available for first time buyer mortgage seekers include guarantor mortgages, which allow a parent or guardian to act as guarantor on the mortgage; graduate or professional mortgages, which enable borrowing to be based on future potential earnings rather than current; or shared ownership mortgages, where multiple people can be named on the mortgage and each own a percentage of the property.  See our article First Time Buyer Mortgage Options for more detailed information on this topic.

To consider your first time buyer mortgage options within the market, complete the form on this page.  You will receive independent first time buyer mortgage advice that is tailored to your specific financial situation; it’s free, fast, and there’s no obligation or credit check at this stage.