First Time Buyer Mortgage Repayment Calculator

Compare mortgage repayments

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

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4.10%Reverts to 3.99% after 2 years


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

Compare latest first time buyer mortgage repayment calculator - 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

2.56%

Reverts to 3.99%

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

2.49%

Reverts to 4.79%

3

Years

90%

YesMore 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

2.91%

Reverts to 3.99%

2

Years

90%

NoMore Info >
£250 Cashback. Early redemption charges may apply. Overall Cost for Comparison 3.90% APRC. This is the cost of the mortgage over the full term.
Fixed

3.99%

Reverts to 3.99%

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

4.25%

Reverts to 4.79%

2

Years

95%

NoMore Info >
£300 Cashback. Early redemption charges may apply. Overall Cost for Comparison 4.70% APRC. This is the cost of the mortgage over the full term.
Fixed

4.25%

Reverts to 4.79%

2

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

4.34%

Reverts to 4.79%

3

Years

95%

NoMore Info >
£300 Cashback. Early redemption charges may apply. Overall Cost for Comparison 4.70% APRC. This is the cost of the mortgage over the full term.
Fixed

4.10%

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

4.54%

Reverts to 4.79%

3

Years

95%

NoMore Info >
£300 Cashback. Early redemption charges may apply. Overall Cost for Comparison 4.70% APRC. This is the cost of the mortgage over the full term.
Fixed

4.55

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.
Fixed

1.94%

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

2.25%

Reverts to 4.79%

2

Years

90%

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

2.56%

Reverts to 3.99%

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

2.49%

Reverts to 4.79%

3

Years

90%

YesMore 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

2.91%

Reverts to 3.99%

2

Years

90%

NoMore Info >
£250 Cashback. Early redemption charges may apply. Overall Cost for Comparison 3.90% APRC. This is the cost of the mortgage over the full term.
Fixed

2.91%

Reverts to 3.99%

5

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

3.72%

Reverts to 3.99%

5

Years

90%

NoMore Info >
£250 Cashback. Early redemption charges may apply. Overall Cost for Comparison 4.00% APRC. This is the cost of the mortgage over the full term.
Fixed

3.72%

Reverts to 3.99%

5

Years

90%

NoMore Info >
£250 Cashback. Early redemption charges may apply. Overall Cost for Comparison 4.00% 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 Repayment Mortgage

Using a repayment mortgage, the customer may repay the capital that has been borrowed with an agreed amount of interest included on a monthly basis. Unlike an interest only mortgage, there is no risk of using an investment to pay off the mortgage in one lump sum, as it is gradually paid off from the beginning.

Interest Only Mortgages

Interest only mortgages only require customers to repay the interest for their loan on a monthly basis, significantly reducing the cost of payments compared with a repayment mortgage. However, it should be remembered that although this may seem tempting for first time buyers, the entire loan must be paid off at the end of the loan, usually by investing in an endowment or other suitable investment vehicle. If you wish to compare offers on mortgage deals, you should consult our mortgage comparisons table and also utilise our repayment calculator. In fact, when using a mortgage repayment calculator, first time buyers should also consider what type of interest rate deal they will be best suited to. Here are some examples:

 

  • A discount or cashback mortgage may provide customers with a tax free cash sum if they accept a mortgage deal. However, it should be remembered that rates are often higher compared with other types of agreement
  • A Fixed Rate mortgage may offer considerable long term security due to the fact that interest rates are guaranteed to remain the same for the duration of the agreement

An offset mortgage may allow customers to offset their interest repayments using their savings, a useful option for first time buyers who may have some extra savings.

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