First Time Buyer

Most lenders define a First Time Buyer as someone who has never owned a property before. However, some lenders class buyers who have not been on the property ladder for at least three years as a first time buyer.To make sure you find the deal that is right for your circumstances, we can introduce you to UK first time buyer mortgage specialists.

Latest News on First Time Buyer Mortgages 

Woolwich mortgages appeal to ‘both ends of the market’
Woolwich has introduced new mortgages it expects to appeal to both existing mortgage customers and first time buyers.

First-time buyers can opt for Woolwich’s new 2 year fixed rate mortgage with a rate of 6.29%, which reverts to 0.95% above the base rate.

People interested in a larger mortgage could opt for the option available for up to 85% of the property price worth up to £2 million. This mortgage tracks above the base rate by 0.17%

The Woolwich head of mortgages Andy Gray said: “First-time buyers are looking for complete stability if rates continue to rise and consumers taking out larger loans are looking for a competitive rate combined with the ultimate flexibility to enable them to reduce their mortgage.”