What are the best first time buyer mortgages?
First time buyer mortgages are those which have been specifically designed for people who are buying their own property for the first time. As such, you’ll find that many of these products come with helpful additional benefits, for example, as well as a mortgage the lender may also offer a free valuation or legal fees, sometimes both. Needless to say, you must still consider your needs carefully when choosing and consider all aspects of a product before purchasing.
How our best first time buyer mortgages comparison works
Our comparison charts are designed to be easy to understand whilst giving you the best first time buyer mortgage deals available in the marketplace. Understanding how these are organised is simple: at the top are all the deals where it is possible for you to apply directly to the mortgage lender by using the ‘Go To Provider’s Site’ button. This provides a hassle-free method of getting straight to business. Beneath these direct deals are those products offered by other providers in the market. Both types of result are sorted by interest rate with the lowest figures first.
How to choose the best first time buyer mortgage for you
Deciding what is the right first time buyer mortgage for you is an important step and one you should take some time to think over. There is a huge selection of products and deals available – all of which have differing benefits, interest rates and repayment options. Many first time buyer mortgage deals offer a fixed term whereby your repayments will be kept at the same level for a set period of time, say two or three years – an excellent idea for those living on a budget and wanting to eliminate the chances of any large interest rate rises.