Simple mortgage advice
for first time buyers

An independent comparison of over 70 mortgage lenders.

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We’re here to support your first step onto the property ladder.

Buying your first home – it’s exciting and overwhelming in equal amounts. Our mortgage advisors will listen to your needs, offer advice and recommend the right mortgage for you from over 70 lenders.

We are independent, so you can rest assured our advice will be impartial and we’ll deal with your mortgage application from beginning to end. Whatever your individual circumstances, we are on hand to take the hassle out of finding and applying for your mortgage.

Step 1

Complete our quick form.

Step 2

Receive free mortgage advice on the best and most suitable mortgage for your situation.

Step 3

Apply for your perfect mortgage; your mortgage advisor will take care of the paperwork and keep you updated.

Get started by completing our quick form.

What types of mortgages are available?

There’s a range of different mortgage types to choose from. Our mortgage experts can recommend which is the most suitable for you – the options they’ll consider include;

  • Fixed rate – the mortgage rate is ‘fixed’ for a set period, usually 2, 3 or 5 years. The interest rate you pay remains the same, irrelevant if the rate on other mortgages goes up or down. After the fixed period, it reverts to the lenders SVR (standard variable rate).
  • Standard Variable Rate – a type of variable rate which means your payments can go up or down according to changes in interest rates. Unlike a tracker, a Standard Variable Rate does not track above the Bank of England Base Rate at a set percentage. The rate paid on an SVR mortgage will be determined by the mortgage lender and can be changed at any time.
  • Tracker rate – are a type of variable rate mortgage which moves in line with a specified interest rate which is usually the Bank of England base rate. The actual mortgage rate will be a set interest rate above or below the base rate. When base rates go up, mortgage rates will go up by the same amount and it will come down when the base rate comes down.
  • Offset – are a type of mortgage that links your mortgage to your savings. The funds in the savings account do not receive an interest rate, but these monies are offset against the interest payable on the mortgage – this can be calculated daily or monthly.

Did you know….

  • The amount you can borrow depends on your situation – including your income and any outgoings. Our mortgage advisors will complete a full affordability assessment to make sure you don’t over stretch what you can comfortably afford.
  • Stamp duty (or a ‘land tax’) may be payable on your new property. It has slightly different names and costs depending where in the UK you are. The amount you need to pay depends on how much your new home costs – the good news is that first time buyers get some exemptions. You can check the current rates on these websites:
    – Stamp duty rates in England and Northern Ireland- visit website.
    – Land buildings Transaction Tax in Scotland – visit revenue Scotland website .
    – Land Transaction tax in Wales -visit website.
  • There is a range of government schemes available to help you buy your home – find out more on the Governments “ownyourownhome” website.
  • You can get instant online mortgage options in as little as 60 seconds with our online mortgage application, CalculateMy Mortgage. It combines an online mortgage search engine with our experience in financial advice, to help you understand the best mortgage options for you, anytime, anywhere.

Your home may be repossessed if you do not keep up repayments on your mortgage.

All our Mortgage & Protection Advisers work nationwide and have access to the whole of market.

Your questions answered

How much deposit do I need?

Generally, it is advisable to save at least 5% to 20% of the cost of the home you would ideally like. For example, if you were to buy a home costing £200,000, you would need to save at least £10,000 (5%). If you save more it generally gives you access to a wider range of sometimes cheaper mortgages and the more you save the less you borrow meaning your monthly payments will be lower.

What can I do if I need some financial help buying my first home?

Several government-backed schemes aim to give home buyers a helping hand onto the property ladder, talk to one of our advisors to find out your options. If you’re struggling to get a mortgage agreed to buy your first home, you may want to consider a guarantor mortgage. This means another person agrees to be responsible for paying the mortgage if you are unable to, normally a parent, guardian or close relative . Guarantor mortgages are legally binding arrangements and should not be entered into lightly by either party. A mortgage broker can help you to find which lenders offer guarantor mortgages.

What are the costs of buying a home?

Apart from your monthly mortgage payments, there are others costs when buying a home that you should consider. These could include;

  • Mortgage arrangement and valuation fees
  • Stamp Duty (Land and buildings Transaction Tax in Scotland, or Land Transaction Tax in Wales)
  • Survey costs
  • Solicitor’s fee
  • Buildings and contents insurance
  • Removal costs

What is stamp duty?

Stamp duty land tax (or Land and buildings transaction tax in Scotland) is a lump-sum tax that anyone buying a property or land costing more than a set amount has to pay.  The rate of tax you’ll pay depends on the price of the property itself.

You can use our stamp duty calculator to work out how much stamp duty you will have to pay on your property.

Stamp duty calculator


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