First Time Buyer Mortgage Advice

First Time Buyer Mortgage Advice Options

First Time Buyer 2 Year Fixed Rate - 5% Deposit »NatWest Mortgages

Call NatWest FREE on 0800 158 2934 

4.09%Reverts to 3.75% 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.

Do you require first time buyer mortgage advice? - use our mortgage tables below to see a selection of market leading mortgage deals:

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
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

3.44%

Reverts to 3.74%

2

Years

90%

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

3.79%

Reverts to 3.74%

5

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

3.89%

Reverts to 3.75%

5

Years

90%

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

3.94%

Reverts to 4.70%

3

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

3.94%

Reverts to 4.70%

3

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

3.99%

Reverts to 4.54%

2

Years

95%

NoMore Info >
£300 Cashback. Early redemption charges may apply. Overall Cost for Comparison 4.40% APRC. This is the cost of the mortgage over the full term.
Fixed

3.99%

Reverts to 4.54%

2

Years

95%

NoMore 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

4.09%

Reverts to 4.54%

3

Years

95%

NoMore Info >
£300 Cashback. Early redemption charges may apply. Overall Cost for Comparison 4.40% APRC. This is the cost of the mortgage over the full term.
Fixed

4.29%

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

4.29%

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

4.54%

Reverts to 4.54%

3

Years

95%

NoMore Info >
£300 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

4.64%

Reverts to 3.74%

2

Years

95%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.00% APRC. This is the cost of the mortgage over the full term.
Fixed

4.81

Reverts to 3.75%

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

4.81%

Reverts to 4.00%

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

4.84%

Reverts to 3.74%

2

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.00% APRC. This is the cost of the mortgage over the full term.
Fixed

4.94%

Reverts to 3.74%

5

Years

95%

YesMore 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

5.14%

Reverts to 3.74%

5

Years

95%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.40% 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.

First Time Buyer Mortgage Advice

Buying your first property can sometimes be a stressful and puzzling process, but getting on the property ladder the first time is an important commitment and can earn you a sense of pride, security and independence. There are several useful tips that you may wish to consider when searching for a suitable mortgage deal, borrowers should:

 

  • Make as large a deposit as is possible in order to reduce the cost of the loan
  • Not rush into making multiple applications, as it could lead to a bad credit rating
  • Always assess the cost of the mortgage on a long term basis
  • Compare as many mortgage deals and lenders as possible

 

Types of Interest Rate Deal

The most popular interest rate deals for first time buyers are:

  • Fixed Rate – you will pay a fixed rate until the end of the term set by your lender. After this point the interest rate will switch to your lender’s standard variable rate.
  • Tracker – you will pay a rate of interest that follows the Bank of England base rate and rises and falls in accordance with it.

 

Repayment Options

It is always worth considering exactly what method of repayment you will be best suited to. The options are:

  • Repayment mortgages – straight forward repayments that will include interest owed each month
  • Interest only mortgages – wherein payments will consist of the interest owed each month and not the initial loan. However lenders will expect you to invest enough money to repay the initial loan at the end of the mortgage period.

Before selecting a particular mortgage deal, it is always recommended to compare mortgages from as many different providers as possible in order to get the most competitive offer available.

Monday to Friday 8.30am to 7pm

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