Menu

Compare first time buyer mortgages

Compare mortgages

Looking to buy your first property? Enter your details to find the best first time buyer mortgage for you.

Reason for mortgage
£
£
years
How would you like to repay?
Loading
Rate type Initial rate Fees Overall cost
APR

Overall costs for comparison. This is a way of comparing most costs including interest and fees.

Monthly cost
Rate type
Stepped until 07/08/2016
Initial rate
1.09% then 4.79%
Fees
£545fees
Overall cost
4.4%APR
Monthly cost
£609.54 for 6 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Wales
  • Aged 18 or older
  • No County Court Judgements (CCJs)
  • No arrears
  • No defaults
  • No bankruptcies
  • No repossessions
  • Up to 90% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 7% of loan amount redeemed to be paid within 1 year; then 6% of loan amount redeemed to be paid for next 1 year; then 4% of loan amount redeemed to be paid for next 1 year; then 3% of loan amount redeemed to be paid for next 1 year; then 1% of loan amount redeemed to be paid for next 1 year.
Rate type
Fixed until 30/04/2017
Initial rate
1.44% then 3.99%
Fees
£995fees
Overall cost
3.7%APR
Monthly cost
£635.40 for 14 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales
  • Aged 18 or older
  • 75 or younger at mortgage end
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 3.00% of loan amount redeemed to be paid until 30-Apr-2019.
Rate type
Fixed until 30/04/2018
Initial rate
1.49% then 4.74%
Fees
£1,499fees
Overall cost
4.3%APR
Monthly cost
£639.15 for 26 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales, Northern Ireland
  • Aged 18 or older
  • 68 or younger at mortgage end
  • No County Court Judgements (CCJs)
  • No defaults
  • No bankruptcies
  • No repossessions
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 2.00% of loan amount redeemed to be paid until 30-Apr-2017; then 1.00% of loan amount redeemed to be paid until 30-Apr-2018.
Rate type
Discounted until 07/02/2018
Initial rate
1.5% then 4.95%
Fees
£499fees
Overall cost
4.6%APR
Monthly cost
£639.90 for 24 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England
  • Aged 18 or older
  • No County Court Judgements (CCJs)
  • No arrears
  • No defaults
  • No bankruptcies
  • No repossessions
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 3.00% of loan amount redeemed to be paid within 2 years.
Rate type
Fixed until 31/03/2018
Initial rate
1.53% then 4.49%
Fees
£1,495fees
Overall cost
4.1%APR
Monthly cost
£642.16 for 25 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales
  • Aged 18 or older
  • 70 or younger at mortgage end
  • No bankruptcies
  • No repossessions
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 3.00% of loan amount redeemed to be paid until 31-Mar-2017; then 2.00% of loan amount redeemed to be paid until 31-Mar-2018.
Rate type
Tracker until 30/06/2018
Initial rate
1.54% then 5.79%
Fees
£975fees
Overall cost
5.0%APR
Monthly cost
£642.91 for 28 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales, Northern Ireland
  • Aged 18 or older
  • 75 or younger at mortgage end
  • No repossessions
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 1.00% of loan amount redeemed to be paid until 30-Jun-2018.
Rate type
Fixed until 30/04/2018
Initial rate
1.55% then 5.69%
Fees
£1,999fees
Overall cost
5.1%APR
Monthly cost
£643.66 for 26 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales, Northern Ireland
  • Aged 18 or older
  • 75 or younger at mortgage end
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 3.00% of loan amount redeemed to be paid until 30-Apr-2017; then 2.00% of loan amount redeemed to be paid until 30-Apr-2018.
Rate type
Tracker until 07/02/2018
Initial rate
1.59% then 4.74%
Fees
£1,089fees
Overall cost
4.4%APR
Monthly cost
£646.69 for 24 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales, Northern Ireland
  • Aged 18 or older
  • 75 or younger at mortgage end
  • No arrears
  • No bankruptcies
  • No repossessions
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 2.00% of loan amount redeemed to be paid within 1 year; then 1.00% of loan amount redeemed to be paid for next 1 year.
Rate type
Fixed until 30/06/2018
Initial rate
1.59% then 5.79%
Fees
£1,975fees
Overall cost
5.1%APR
Monthly cost
£646.69 for 28 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales, Northern Ireland
  • Aged 18 or older
  • 75 or younger at mortgage end
  • No repossessions
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 2.00% of loan amount redeemed to be paid until 30-Jun-2017; then 1.00% of loan amount redeemed to be paid until 30-Jun-2018.
Rate type
Fixed until 30/04/2017
Initial rate
1.64% then 3.99%
Fees
£995fees
Overall cost
3.8%APR
Monthly cost
£650.48 for 14 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales
  • Aged 18 or older
  • 75 or younger at mortgage end
  • Up to 85% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 3.00% of loan amount redeemed to be paid until 30-Apr-2019.
Rate type
Fixed until 30/04/2018
Initial rate
1.64% then 4.74%
Fees
£1,589fees
Overall cost
4.3%APR
Monthly cost
£650.48 for 26 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales, Northern Ireland
  • Aged 18 or older
  • 75 or younger at mortgage end
  • No arrears
  • No bankruptcies
  • No repossessions
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 2.00% of loan amount redeemed to be paid until 30-Apr-2017; then 1.00% of loan amount redeemed to be paid until 30-Apr-2018.
Rate type
Fixed until 30/04/2018
Initial rate
1.64% then 5.15%
Fees
£1,675fees
Overall cost
4.7%APR
Monthly cost
£650.48 for 26 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales
  • Aged 18 or older
  • 65 or younger at mortgage end
  • No repossessions
  • Up to 85% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 2.00% of loan amount redeemed to be paid until 30-Apr-2017; then 1.00% of loan amount redeemed to be paid until 30-Apr-2018.
Rate type
Fixed until 30/06/2018
Initial rate
1.64% then 5.79%
Fees
£975fees
Overall cost
5.1%APR
Monthly cost
£650.48 for 28 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales, Northern Ireland
  • Aged 18 or older
  • 75 or younger at mortgage end
  • No repossessions
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 2.00% of loan amount redeemed to be paid until 30-Jun-2017; then 1.00% of loan amount redeemed to be paid until 30-Jun-2018.
Rate type
Discounted until 07/02/2018
Initial rate
1.65% then 4.99%
Fees
£995fees
Overall cost
4.5%APR
Monthly cost
£651.24 for 24 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Wales
  • Aged 18 or older
  • No arrears
  • No bankruptcies
  • No repossessions
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Rate type
Discounted until 07/02/2018
Initial rate
1.65% then 5.64%
Fees
£999fees
Overall cost
4.6%APR
Monthly cost
£651.24 for 24 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Wales
  • Aged 21 or older
  • 75 or younger at mortgage end
  • No County Court Judgements (CCJs)
  • No arrears
  • No defaults
  • No bankruptcies
  • No repossessions
  • Up to 85% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Rate type
Fixed until 31/03/2018
Initial rate
1.68% then 4.49%
Fees
£1,495fees
Overall cost
4.1%APR
Monthly cost
£653.52 for 25 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales
  • Aged 18 or older
  • 70 or younger at mortgage end
  • No bankruptcies
  • No repossessions
  • Up to 85% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 3.00% of loan amount redeemed to be paid until 31-Mar-2017; then 2.00% of loan amount redeemed to be paid until 31-Mar-2018.
Rate type
Fixed until 30/04/2018
Initial rate
1.68% then 4.99%
Fees
£975fees
Overall cost
4.5%APR
Monthly cost
£653.52 for 26 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales
  • Aged 18 or older
  • 65 or younger at mortgage end
  • No repossessions
  • Up to 85% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 2.00% of loan amount redeemed to be paid until 30-Apr-2017; then 1.00% of loan amount redeemed to be paid until 30-Apr-2018.
Rate type
Tracker until 30/04/2018
Initial rate
1.69% then 3.99%
Fees
£995fees
Overall cost
3.8%APR
Monthly cost
£654.28 for 26 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales
  • Aged 23 or older
  • 75 or younger at mortgage end
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 3.00% of loan amount redeemed to be paid until 30-Apr-2017; then 1.00% of loan amount redeemed to be paid until 30-Apr-2018.
Rate type
Fixed until 30/04/2018
Initial rate
1.69% then 4.74%
Fees
£999fees
Overall cost
4.3%APR
Monthly cost
£654.28 for 26 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: England, Scotland, Wales, Northern Ireland
  • Aged 18 or older
  • 68 or younger at mortgage end
  • No County Court Judgements (CCJs)
  • No defaults
  • No bankruptcies
  • No repossessions
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 2.00% of loan amount redeemed to be paid until 30-Apr-2017; then 1.00% of loan amount redeemed to be paid until 30-Apr-2018.
Rate type
Discounted until 07/02/2018
Initial rate
1.69% then 4.75%
Fees
£495fees
Overall cost
4.3%APR
Monthly cost
£654.28 for 24 months
Am I eligible?
Please make sure you at least meet the following criteria:
  • Resident of: Northern Ireland
  • Aged 18 or older
  • 75 or younger at mortgage end
  • No County Court Judgements (CCJs)
  • No arrears
  • No defaults
  • No bankruptcies
  • No repossessions
  • Up to 80% loan-to-value (LTV) available.

Additional criteria for acceptance from the lender may apply.

Early repayment charge: 2.00% of loan amount redeemed to be paid within 1 year; then 1.00% of loan amount redeemed to be paid for next 1 year.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

First time buyer – Frequently Asked Questions

What is LTV or loan to value?

There are up to 95% LTV (loan to value ratio or the percentage of the value of the property that you need to borrow) mortgages on the market, but the bigger the deposit you have, the better. Mortgages with a lower LTV usually come with a lower interest rate, so your monthly repayments will be more affordable.

It’s not just getting the biggest possible deposit that you need to think about either – you also need to cover the cost of paying legal fees and, if applicable, stamp duty.

Make sure your savings are working hard for you too – compare savings accounts to find the best rate, set up a monthly direct debit from your current account to your savings account.

Savings accounts that let you withdraw cash instantly may have a lower interest rate than a fixed rate bond which often won’t allow you to make withdrawals until a set date. However, if interest rates go up during the term on your fixed rate bond, you may miss out on the new bank rate.

How can first time buyers save?

Analyse your income and outgoings and identify areas where you could cut your spending. Cutting back on small things, like buying lunch or a coffee at work every day, can make a big difference over time.

Comparing prices and switching to a cheaper provider on things like your gas and electricity or car insurance is a great way to save money without having to cut back or make any lifestyle changes.

How important is credit history for first time buyers?

Having a healthy credit history is essential when it comes to finding a mortgage. Check your credit report to get a snapshot of your outstanding credit.

You can see your credit accounts and how much you owe in one place – your mobile phone, shopping catalogues and gas & electricity bills, as well as credit cards, loans and mortgages.

You’ll also be able to check that all the information it contains is correct. If you notice any errors, you can contact the relevant lender and ask for them to be corrected – but bear in mind that you will be expected to provide proof that a mistake has been made.

If you have a good reason (like a serious illness) for any credit problems, you can add a Notice of Correction to your account which potential lenders will be able to see – but again, be prepared to provide proof.

If you aren’t on the electoral roll at your current address, get on it now – lenders will check that you’re on the electoral roll at your given address when deciding whether or not to lend to you as a precaution against fraud, so it’s vital that you’re registered.

You may also want to check your credit report to see what other areas of your personal finance history might be affecting your ability to borrow money.

When you are finally ready to apply for your mortgage, make sure you read the small print and avoid making multiple applications just to see what kind of offer you will get at all costs.

Every mortgage application you make leaves a record on your credit report that can be seen by other lenders, and this can harm your credit rating. Lots of applications in a short space of time may make it look like you are desperate for money or that fraud is being committed. This could result in giving you bad credit, so you may struggle to find a mortgage if you apply for everything without taking precautions.

What mortgages should first time buyers look for?

Don’t just look at mortgage rates from one or two lenders – look at what’s on offer from a range of different providers to make sure you find the best deal for you.

There are a range of special offers that you may find, such as no arrangement fee or a set number of years with a lower rate. If you do see an attractive fixed rate special offer available, do your research on the economy to find out if the Bank of England is likely to lower or raise the bank rate anytime during that period.

If the rate is low and the Bank of England is likely to raise rates, then it’s likely you’ll have got a good deal, but if the rate drops, your deal could depreciate in value, and you will not want to be tied down paying a higher rate than you should.

Other options for first time buyers

Getting on the property ladder as a first-time buyer is tough, so you might need to think creatively to become a homeowner.

An increasing number of people are opting to buy with friends, and there are also plenty of shared equity schemes, in which you buy a percentage of property and a commercial partner like a housing association owns the rest. There are also government scheme to help key workers, like teachers, nurses and police officers, buy a house.

You could also consider a 95% LTV loan or a Help to Buy guarantee or Help to Buy equity loan. Many banks and building societies offer 95% LTV mortgages, which means you only need to put up a 5% deposit, but at the cost of paying a higher rate on your monthly repayments.

Meanwhile, a Help to Buy equity loan is a government loan to the bank to help you get a 75% LTV mortgage with a 5% deposit. This means, in theory, you could get similar rates to someone with a 25% deposit.

The Help to Buy guarantee also allows consumers to put down a 5% deposit while encouraging banks to lend at a lower rate than usual by guaranteeing a proportion of the money the banks lend you. By guaranteeing some of the money, banks, in theory, are putting up less of a risk by lending to someone with a 5% deposit.

uSwitch is authorised and regulated by the Financial Conduct Authority (FSA FRN 312850) to provide this mortgage comparison service

uSwitch services are provided at no cost to you, but we may receive a commission from the companies we refer you to.