Often considered to be the life-blood of the mortgage market, first time buyers have suffered immensely from high rates, harsh lending criteria and a general lack of choice in the high LTV market.
Some fresh hope was offered to the millions hoping to take their first steps onto the property ladder this week with the news that the number of mortgages requiring a deposit of 10% or more has grown significantly over the past few months.
According to research by Moneyfacts.co.uk, there are 300 90% loan-to-value (LTV) products available, the highest level in six months.
Taking the plunge and buying your first home is one of the most important decisions you will make in life and searching the market for a suitable first time mortgage deal is just as important as finding the right home.
If you have a deposit of 10% or more, check out our top fourteen first time buyer deals to help you on your way:
Rate and term
Britannia/The Co-operative Bank
3.99% to 31.12.2014
No arrangement fee
Chelsea Building Society
4.19% to 30.11.14
Market Harborough Building Society
4.20% to 31/10/2014
Refunded valuation fee. Refunded ASU for three months
Yorkshire Building Society
4.24% to 31/12/2014
Ipswich Building Society
4.25% to 31/12/2014
Hanley Economic Building Society
4.29% to 30/11/2014
Free valuation fees (maximum £240). £250 rebate.
Loughborough Building Society
3.99% Discounted Variable (collared at 2.00%) for 3 years
3.99% Discounted Variable (collared at 3.50%)
4.14% Variable (collared at 4.14%) to 30/11/2014
4.19% Discounted Variable (collared at 2.00%) for 3 years
Free valuation (max £240)
Chorley & District Building Society
4.29% Discounted Variable for 1 year
1% of mortgage advance
Nottingham Building Society
4.29% Discounted Variable for 3 years
4.34% Variable (collared at 4.34%) to 30/11/2014
Leeds Building Society
4.35% Discounted Variable for 2 years
Find the best mortgage rate - Compare best selling mortgages
Find the best low deposit mortgage for your first home.
Check out our guide our 'First Time Buyers Guide - How to buy a house'
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.