2 Year First Time Buyer Mortgages

Compare 2 Year First Time Buyer Mortgages

2 Year Fixed £250 CASHBACK » NatWest Mortgages

Call NatWest FREE on 0800 158 2934 

2.91%Reverts to 3.99% after 2 years


Overall Cost for Comparison 3.90% APRC. This is the cost of the mortgage over the full term. Early redemption charges may apply.

Compare latest 2 year first time buyer mortgages:

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Fixed

1.70%

Reverts to 3.99%

2

Years

85%

YesMore Info >
£250 Cashback. Early redemption charges may apply. Overall Cost for Comparison 3.70% APRC. This is the cost of the mortgage over the full term.
Fixed

1.70%

Reverts to 3.99%

2

Years

85%

YesMore Info >
£500 Cashback. Early redemption charges may apply. Overall Cost for Comparison 3.70% APRC. This is the cost of the mortgage over the full term.
Fixed

1.94%

Reverts to 3.94%

2

Years

90%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.70% APRC. This is the cost of the mortgage over the full term.
Fixed

4.10%

Reverts to 3.99%

2

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.10% APRC. This is the cost of the mortgage over the full term.
Fixed

4.10%

Reverts to 3.99%

2

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.10% APRC. This is the cost of the mortgage over the full term.
Fixed

5.18%

Reverts to 5.48%

2

Years

100%

YesMore Info >
Little or no deposit required, parent or grandparent provides a guarantee secured against their residential property.Early redemption charges may apply. Overall Cost for Comparison 5.70% APRC. This is the cost of the mortgage over the full term.

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 YOUR MORTGAGE.
Help To Buy Mortgage Deals

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Fixed

4.10%

Reverts to 3.99%

2

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.10% APRC. This is the cost of the mortgage over the full term.
Fixed

4.10%

Reverts to 3.99%

2

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.10% APRC. This is the cost of the mortgage over the full term.
Fixed

4.08%

Reverts to 4.49%

3

Years

95%

NoMore Info >
£500 Cashback. Early redemption charges may apply. Overall Cost for Comparison 4.50% APRC. This is the cost of the mortgage over the full term.
Fixed

4.55%

Reverts to 3.99%

5

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.30% APRC. This is the cost of the mortgage over the full term.
Fixed

4.55

Reverts to 3.99%

5

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.30% APRC. This is the cost of the mortgage over the full term.

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 YOUR MORTGAGE.

2 Year First Time buyer Mortgage Deals

Purchasing your first property is obviously a big step, however with the right first time buyer mortgage it need not be such a daunting experience.  It is therefore crucial that you take the time to compare mortgage deals from several different providers before deciding which might be the best for you.

 

For first time buyers, a 2 year mortgage may be preferable, although you may wish to consider the following before choosing a particular interest rate deal:

  • How much deposit you have readily available
  • How much you can reasonably afford to pay for your mortgage
  • Extra costs such as property valuation, administration fees, insurance etc.

 

There are a number of different mortgage lenders who could offer 2 year first time buyer mortgages.  To ensure that you get the best possible mortgage deal available to you, it is a good idea to approach as many lenders as possible.  For help with this, you could consult the mortgage comparison tables above.

 

As you look for 2 year first time buyer mortgages, you may come across the following interest rate deals:

  • A 2 year first time buyer fixed rate mortgage
    This type of mortgage will fix your monthly payments to a set amount for the first two years of your mortgage; during this set period, your monthly payments will not be affected by increases or decreases in the Bank of England base interest rate.
  • A 2 year first time buyer tracker mortgage
    A tracker mortgage has interest rates that follow the Bank of England base rate; these could therefore rise or fall in accordance with this.

 

After the 2 year period has passed, interest rates on 2 year first time buyer mortgages may revert back to the lender’s Standard Variable Rate (SVR). When considering the length of different deals, it may also be a good idea to use a mortgage calculator to help you assess the costs of your first time buyer mortgage.

Which? Mortgage Service
Mortgage ServiceWhole Of Market Mortgage AdviceFeaturesMore Info
yesWe’ll pick the perfect mortgage for you. Our mortgage advisers get paid salaries, not commission. So when they recommend a mortgage, you can be sure it’s the best one for you – not for them.
Call 0333 305 3219
More Info >

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker