First Time Buyer Lifetime Mortgages

Get Lifetime First Time Buyer Mortgages

Compare latest lifetime first time buyer mortgages - use our mortgage tables below to see a selection of market leading mortgage deals - alternatively if you need advice - call our independent mortgage team on 0117 332 6063.

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Fixed

1.72%

Reverts to 3.75%

2

Years

85%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.50% APRC. This is the cost of the mortgage over the full term.
Fixed

1.99%

Reverts to 3.69%

2

Years

90%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.50% APRC. This is the cost of the mortgage over the full term.
Fixed

2.41%

Reverts to 3.75%

2

Years

90%

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

2.58%

Reverts to 4.54%

3

Years

90%

YesMore 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

2.87%

Reverts to 3.75%

2

Years

90%

NoMore 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

2.87%

Reverts to 3.75%

2

Years

90%

NoMore 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

3.03%

Reverts to 3.75%

5

Years

90%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.60% APRC. This is the cost of the mortgage over the full term.
Fixed

3.03%

Reverts to 3.75%

5

Years

90%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.60% APRC. This is the cost of the mortgage over the full term.
Fixed

3.39%

Reverts to 4.70%

5

Years

90%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.40% APRC. This is the cost of the mortgage over the full term.
Fixed

3.39%

Reverts to 4.70%

5

Years

90%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.40% APRC. This is the cost of the mortgage over the full term.
Fixed

3.68%

Reverts to 3.75%

5

Years

90%

NoMore Info >
£500 Cashback. Early redemption charges may apply. Overall Cost for Comparison 3.80% APRC. This is the cost of the mortgage over the full term.
Fixed

3.68%

Reverts to 3.75%

5

Years

90%

NoMore Info >
£500 Cashback. Early redemption charges may apply. Overall Cost for Comparison 3.80% APRC. This is the cost of the mortgage over the full term.
Fixed

4.09%

Reverts to 3.75%

2

Years

95%

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

4.09%

Reverts to 3.75%

2

Years

95%

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

4.09%

Reverts to 4.24%

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

4.59%

Reverts to 4.00%

5

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.20% APRC. This is the cost of the mortgage over the full term.
Fixed

4.59%

Reverts to 3.75%

5

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.20% 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.
Fixed

5.18%

Reverts to 5.48%

3

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

4.09%

Reverts to 3.75%

2

Years

95%

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

4.09%

Reverts to 3.75%

2

Years

95%

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

3.89%

Reverts to 4.24%

2

Years

95%

NoMore Info >
£500 Cashback. Early redemption charges may apply. Overall Cost for Comparison 4.30% APRC. This is the cost of the mortgage over the full term.
Fixed

3.89%

Reverts to 4.70%

3

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.60% APRC. This is the cost of the mortgage over the full term.
Fixed

3.89%

Reverts to 4.70%

3

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.60% APRC. This is the cost of the mortgage over the full term.
Fixed

3.98%

Reverts to 4.24%

3

Years

95%

NoMore Info >
£500 Cashback. Early redemption charges may apply. Overall Cost for Comparison 4.30% APRC. This is the cost of the mortgage over the full term.
Fixed

4.09%

Reverts to 4.24%

5

Years

95%

NoMore Info >
£500 Cashback. Early redemption charges may apply. Overall Cost for Comparison 4.30% APRC. This is the cost of the mortgage over the full term.
Fixed

4.49%

Reverts to 4.70%

5

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.70% APRC. This is the cost of the mortgage over the full term.
Fixed

4.49%

Reverts to 4.70%

5

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.70% APRC. This is the cost of the mortgage over the full term.
Fixed

4.59%

Reverts to 4.00%

5

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.20% APRC. This is the cost of the mortgage over the full term.
Fixed

4.59%

Reverts to 3.75%

5

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.20% 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.

Compare First Time Buyer Lifetime Mortgages

 

Offering a long-term option, first time buyer lifetime mortgages are suitable for those who have a significant number of working years ahead of them. To first time buyers, lifetime mortgages might seem like a long commitment, but they still offer the flexibility of over payments, or repaying your mortgage early, with the stability of knowing that the terms of your mortgage will remain the same for the lifetime of the loan. This can make it easier to budget and plan for the future. See below for our current selection of the latest first time buyer mortgages to see if there's a lifetime option that suits you.

If you are searching for a lifetime mortgage as a first time buyer, it is advisable that you shop around and research the market as much as possible before opting for a particular mortgage.

 

To this end, the mortgage comparison tables featured above may be of some use.

 

Lifetime mortgages for first time buyers come in several different formats, although for a relatively inexperienced customer, selecting one of these mortgage deals may seem slightly intimidating given the long term nature of these commitments.

 

The following are some examples of the types of mortgage deal that may be offered to customers:

  • Lifetime tracker mortgages for first time buyers will have their rates adjusted according to any changes introduced by the Bank of England. Although they can be predicted, these rates may be subject to a great deal of change over a number of years.
  • Lifetime fixed rate mortgages for first time buyers can provide customers with guaranteed interest rates for their entire mortgage period. While these mortgages are very secure, their rates are often rather high compared to other types of agreement.

 

For many first time buyers, a lifetime mortgage deal can be an attractive option as the terms of your mortgage are guaranteed to be the same throughout the mortgage. This can provide customers with a great deal of long term security, and may prove useful when planning for the future. However, it should also be remembered that a lifetime mortgage deal may be very difficult to opt out of for customers. It is therefore important to look out for any penalties or charges that may be incurred by switching to a different type of deal.

 

As a first time buyer, finding a lifetime mortgage with a good deal of flexibility is highly recommended. Some providers may allow you the opportunity to take payment holidays, or to even pay off your mortgage early in some circumstances.

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Equity release may affect your entitlement to state benefits and will reduce the value of your estate. It may involve a lifetime mortgage or home reversion plan. All content set out in this website is provided for information only and should not be considered as advice. It is strongly recommended that you seek advice of a qualified, independent financial advisor before making any decisions to take out an equity release product.