Guiding first-time buyers toward homeownership. Your dream home, your first step
A first-time buyer mortgage is a type of home loan specifically designed for individuals who are purchasing their first home. These mortgages are tailored to help people who have never owned a property before get on the property ladder. First-time buyer mortgages typically offer more favorable terms and conditions compared to other types of mortgages. They may include features such as lower interest rates, lower deposit requirements, and special government schemes or incentives to assist first-time buyers in getting their foot on the property ladder.
These mortgages aim to make homeownership more accessible and affordable for those who are new to the property market.
The eligibility criteria for first-time buyer mortgages usually require that the applicant has never owned or co-owned a residential property before. These mortgages are popular among individuals or couples who are ready to take their first step towards homeownership and may include options like Help to Buy schemes or shared ownership programs to further facilitate the purchase of their first home.
Here’s a handy tool designed to help you estimate your monthly mortgage repayments based on the mortgage amount you need and the chosen loan term.
The APR rate used in this calculator is a fixed 6%. Actual rates may differ.
Please keep in mind that the figures provided by this calculator are estimates and are for informational purposes only. Actual mortgage terms and rates may vary depending on your specific financial situation and the lender’s policies.