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

HSBC 2 Year 1.49% Fixed Special
0800 077 4270
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
60%1.49% fixed
until 30 Nov 2016
3.94%3.7% APR
HSBC 2 Year 2.45% Discount Special
0800 077 4270
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
60%1.49% variable
for 24 months
3.94%3.6% APR
TSB 2 Year BBR+1.04%
0808 1593512
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
60%1.54% tracker
until 30 Nov 2016
3.99%3.8% APR
TSB 2 Year BBR+1.09%
0808 1593512
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
75%1.59% tracker
until 30 Nov 2016
3.99%3.8% APR
Chelsea Building Society 2 Year 1.69% Fixed
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.69% fixed
until 31 Oct 2016
5.65%5.1% APR
First Direct 2 Year BBR+1.19% Offset Ltd Edition
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.69% tracker
for 24 months
-3.6% APR
Available direct by telephone only.
Post Office 2 Year BBR+1.24%
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
60%1.74% tracker
until 31 Aug 2016
4.49%4.1% APR
Yorkshire BS Flexi 2 Year 1.74% Fixed
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.74% fixed
until 31 Oct 2016
4.99%4.5% APR
Virgin 2 Year BBR+1.25%
0845 322 8311
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
70%1.75% tracker
until 01 Dec 2016
4.79%4.4% APR
Interest only mortgages are not available where property value is less than £500k or where combined applicants income is less than £100k. Maximum LTV is 70%.
TSB 2 Year 1.79% Fixed >£200K
0808 1593512
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
60%1.79% fixed
until 30 Nov 2016
3.99%3.9% APR
TSB 2 Year 1.84% Fixed >£200K
0808 1593512
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
75%1.84% fixed
until 30 Nov 2016
3.99%3.9% APR
Yorkshire BS 2 Year BBR+1.34%
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.84% tracker
until 31 Oct 2016
4.99%4.6% APR
Chelsea Building Society 2 Year BBR+1.34%
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.84% tracker
until 31 Oct 2016
5.65%5.1% APR
Virgin 2 Year BBR+1.35%
0845 322 8311
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
70%1.85% tracker
until 01 Dec 2016
4.79%4.4% APR
Interest only mortgages are not available where property value is less than £500k or where combined applicants income is less than £100k. Maximum LTV is 70%.
Chelsea Building Society Flexi 2 Year 1.89% Fixed Offset
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.89% fixed
until 31 Oct 2016
5.65%5.1% APR
First Direct 2 Year 1.89% Fixed Limited Edition
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.89% fixed
for 24 months
3.69%3.6% APR
Available direct by telephone only.
Yorkshire BS Flexi 2 Year 1.94% Fixed
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.94% fixed
until 31 Oct 2016
4.99%4.6% APR
Chelsea Building Society 2 Year 1.94% Fixed
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
75%1.94% fixed
until 31 Oct 2016
5.65%5.1% APR
Virgin 2 Year 1.94% Fixed
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
60%1.94% fixed
until 01 Dec 2016
4.79%4.5% APR
Available via brokers only. Interest only mortgages are not available where property value is less than £500k or where combined applicants income is less than £100k. Maximum LTV is 70%.
Yorkshire BS Flexi 2 Year 1.94% Fixed Offset
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.94% fixed
until 31 Oct 2016
4.99%4.6% APR

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How to Find the Best Mortgage for First Time Buyers

If you're looking to buy your first home then finding the best first time buyer mortgages is likely to be one of your main priorities. Here's what to look for.

How to Find the Best Mortgage for First Time Buyers

Buying a property will almost certainly be your biggest financial commitment so it's important that you get your finances in order.

With such a wide range of first time buyer mortgage deals in the marketplace, understanding the choices and finding the right product can be tough. So here's what you need to know:

What to look for in a first time buyers mortgage

When researching a 1st time buyer mortgage, there are three main things that you should consider:

  • What interest rate will I pay?
  • What associated fees and charges will I pay?
  • What first time buyer mortgages am I eligible for?

There are two main types of mortgage deal; fixed rates and variable rates.

A fixed rate mortgage guarantees your repayments for a certain period of time as the rate of interest applied to your mortgage borrowing is set for a certain number of years. This means that you have the certainty that your repayments will not change during that period whatever happens to general interest rates.

A discounted variable or tracker rate is generally linked to either the Bank of England Base rate or a lender's Standard Variable rate (SVR). These rates will go up and down as interest rates rise and fall and your repayments will change accordingly.

As well as finding the right interest rate for you, it's also worth checking what associated fees you may incur with your chosen mortgage deal.

Many lenders charge a booking or arrangement fee for a fixed or tracker rate deal and you may also have to pay a valuation fee and cover the cost of surveys.

The best mortgage deals for first time buyers generally combine a competitive interest rate with reasonable fees.

In addition, you should be careful to make sure that you are eligible for the first time buyer mortgage deals that you are considering. For example, check that your income fits the lender's criteria and that you have a big enough deposit to qualify for a particular deal.

Choosing the best first time buyer mortgage deals

With literally hundreds of first time buyer mortgages available in the marketplace, there's plenty of choice.

It's simply a case of finding the best option for your personal circumstances.

You should look for the cheapest first time buyer mortgage deal for the LTV (loan to value) that you need to borrow. Most likely this will combine a low interest rate with low fees.

You can use our first time buyer mortgage comparison tables to research the mortgage deals that are available from all the lenders that extend mortgages to first time buyers.

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