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First Time Buyer

We’re working with Mortgage Advice Bureau to help you find the best mortgage deal by comparing 1000’s of mortgages from over 90 different lenders.


Mortgage Advice Bureau will search the market to find the right mortgage for first time buyers

Finding the right mortgage can seem like a confusing process, especially if it’s your first time. MAB’s advisors will help you by cutting through the jargon, finding out what your mortgage needs are and searching across 1000’s of mortgages from over 90 lenders to bring you the right first-time buyer mortgage. They’ll compare all the mortgages that suit your needs and recommend the most suitable for you.

This isn’t just based on price, because cheapest doesn’t always mean it’s right for you. Instead MAB look at every detail, including individual features, costs and that all-important small print. They’ll explain all the different mortgage deals on offer in plain English and help you make the right choice for you.

If you’re thinking about buying your first house why not let MAB’s mortgage experts advise you on what to do. Simply call 01664 494100 or visit our Mortgage Advice Bureau website.

First time buyers Q & As

How much deposit do I need?

You only need a 5% deposit for some first time buyer mortgages.

Do I have enough money to buy a house?

This tends to be one of the first questions we’re asked! While we’ll help you work out what you can afford, it’s important to remember that there are other costs involved with buying your first home. Things like solicitors’ fees, stamp duty and maintaining your home. It all starts with getting the right first time buyer mortgage and this is where getting advice is so valuable.

Can I apply for a first time buyer mortgage?

If you’ve never owned a property before, you should be able to apply for a first time buyer mortgage. A few rules apply.

You must be a UK resident
Your property must be in the UK
You must be at least 18 years of age

What's the best first time buyer mortgage?

There is no one size fits all answer; it all depends on your financial situation. The good news is that you will have some options, including variable and fixed rate mortgages, shared ownership, self build and low deposit.

Useful tips for first time buyers

Show lenders that you’re in a great position for a mortgage. Having a good track record of saving will help.

The amount you can borrow depends on your personal circumstances with affordability based on your income as a major consideration. However, outgoings are equally important in assessing how much you can afford to borrow, so restricting your spending is a good thing when preparing to buy your first home.

Shared ownership is popular with many first time buyers as you can buy a share in a property and rent the rest. Check out the benefits here.

A Help to Buy equity loan may be right for you if you are considering a new property and need some help with the deposit, find out more here.

If you’re interested in finding out more about mortgages for First Time Buyers MAB's mortgage experts can help you. Call 01664 494100, or take a look at our Mortgage Advice Bureau website.

Search for your next mortgage with Mortgage Advice Bureau

To book an appointment please call 01664 494100 or take a look at our Mortgage Advice Bureau website where you can also see the latest deals, access mortgage calculators, meet the team, get expert advice and much more.

Following the Bank of England Base Rate increases, our Standard Variable Rate is due to increase from 4.99% to 5.39% with effect from 1st June 2022.

Please also bear with us as our telephone lines will be busier as we help our customers