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Mortgage & Equity Release - Call Us 0117 403 4474

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What is your mortgage for?

 

First Time Buyer Mortgages

Compare First Time Buyer Mortgage Rates

The good news is that as a first time buyer there are some great deals if you are looking to get on the housing ladder for the first time.

If you require independent advice on your options please use our first time buyer mortgage advice service.

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparison Product fee Monthly cost Enquire
Initial rate: 4.89%
Rate type: 5 year fixed
Monthly cost: £1510.84 per month
Product fee: £599
Overall cost for comparison: 7.2% APRC
Family Building Society logo 4.89% 5 year fixed 7.2% APRC £599 £250 cashback £1510.84 per month get quotes Broker Only Deal
Initial rate: 4.90%
Rate type: 5 year fixed
Monthly cost: £1512.57 per month
Product fee: £499
Overall cost for comparison: 7.3% APRC
Monmouthshire Building Society logo 4.90% 5 year fixed 7.3% APRC £499 £1512.57 per month get quotes Broker Only Deal
Initial rate: 4.99%
Rate type: 5 year fixed
Monthly cost: £1528.2 per month
Product fee: £0
Overall cost for comparison: 6.4% APRC
Newbury Building Society logo 4.99% 5 year fixed 6.4% APRC £0 £1528.2 per month get quotes Broker Only Deal
Initial rate: 4.99%
Rate type: 5 year fixed
Monthly cost: £1528.2 per month
Product fee: £0
Overall cost for comparison: 7% APRC
Vernon Building Society logo 4.99% 5 year fixed 7% APRC £0 £1528.2 per month get quotes Broker Only Deal
Initial rate: 5.09%
Rate type: 5 year fixed
Monthly cost: £1545.66 per month
Product fee: £999
Overall cost for comparison: 7.1% APRC
Nationwide Building Society logo 5.09% 5 year fixed 7.1% APRC £999 £500 cashback £1545.66 per month get quotes Broker Only Deal
Initial rate: 5.10%
Rate type: 5 year fixed
Monthly cost: £1547.41 per month
Product fee: £999
Overall cost for comparison: 7.5% APRC
Halifax 5.10% 5 year fixed 7.5% APRC £999 £250 cashback £1547.41 per month get quotes
Initial rate: 5.10%
Rate type: 5 year fixed
Monthly cost: £1547.41 per month
Product fee: £999
Overall cost for comparison: 7.5% APRC
Halifax 5.10% 5 year fixed 7.5% APRC £999 £250 cashback £1547.41 per month get quotes Broker Only Deal
Initial rate: 5.14%
Rate type: 5 year fixed
Monthly cost: £1554.42 per month
Product fee: £0
Overall cost for comparison: 7.1% APRC
Vernon Building Society logo 5.14% 5 year fixed 7.1% APRC £0 £1554.42 per month get quotes Broker Only Deal
Initial rate: 5.14%
Rate type: 5 year fixed
Monthly cost: £1554.42 per month
Product fee: £0
Overall cost for comparison: 7.4% APRC
Tipton & Coseley Building Society logo 5.14% 5 year fixed 7.4% APRC £0 £1554.42 per month get quotes Broker Only Deal
Initial rate: 5.14%
Rate type: 5 year fixed
Monthly cost: £1554.42 per month
Product fee: £999
Overall cost for comparison: 7.2% APRC
Leeds Building Society logo 5.14% 5 year fixed 7.2% APRC £999 £1554.42 per month get quotes Broker Only Deal
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

First Time Buyer Mortgages

Get A Great First Time Buyer Deal!

Why choose our mortgage service?

Fair Mortgages can provide you with a first class mortgage service. 

Special features of what we offer include:

  • Whole of market service

  • Access to leading market rates

  • Access to exclusive first time buyer mortgage deals not available on high street

  • Fast turnaround - call us if you need to move fast!

  • We have lenders who will take into account previous defaults and missed payments 

  • If you are looking to raise finance we will look at all your finance options

To investigate your first time mortgage options call our specialist team on 0117 403 4474

or fill in our call back form.  

How much can I borrow?

In calculating how much you can borrow the lender will apply a maximum amount you can borrow called the loan to value of the property (LTV).

During the pandemic many lenders reduced the maximum loan to value on their mortgage ranges.

The good news is that as we come out of the pandemic many mainstream lenders are now reverting back to offering mortgage products with a 95% LTV. 

If you are in a position to provide a 10% depsoit this will allow you to access lower rates and a wider choice of lenders when borrowing to buy your first home.

A few offer mortgages at 95% LTV but you will find that interest rates have been hiked up to reflect this.

For more information on FTB mortgages call 0117 403 4474

 

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