First-Time Buyer Mortgages

Getting a mortgage has become increasingly difficult for first-time buyers in recent years, with a rise in buy-to-let investors driving the price of properties in many areas sky high, which has only been made worse by a lack of supply of properties suitable for first-time buyers. Following the banking collapse, lenders have also become more cautious, preferring larger deposits that many first-time struggle to save.

Thankfully, things are starting to look more promising. The government has introduced the NewBuy and HelpToBuy schemes, and there are significant discounts available on Right to Buy properties. Lenders are also starting to relax their lending criteria, meaning more new homeowners are finally taking their first steps on the property ladder.

In fact, if you’re looking for first-time buyer mortgages, even if you have bad credit, there are currently some deals on the market that are better than there has ever been before.


Can you get a first-time buyer mortgage?

If you have a good credit rating, your income is high enough, and you have some savings for a small deposit, you should qualify for first-time buyer mortgages with most lenders. With so much choice out there, the assistance of our specialist first-time buyer advisors can help to cut through some of the less favourable deals out there, straight to the lenders that are really worth your time and attention.

What if you have bad credit?

A lender’s decision to accept or refuse a mortgage application is made on a broad range of criteria. It can come down to anything from your employment status or age, to the affordability of the deal, the property type or your credit score.

Credit scoring systems can be so complex that even if you have missed a few payments in other areas, it’s impossible to work out exactly what credit score you’ll get. Some lenders are actually very flexible and will not even award you a credit score. So, the good news is that even if you have been refused a mortgage by lenders in the past, you may still be accepted for first-time buyer mortgages with another lender.

How can we help?

Whether you’re looking for the best deal on first-time buyer mortgages, or are struggling to find an affordable deal due to bad credit, Mortgage can help. We work with a leading network of mortgage advisors who know precisely where to turn to find the best deal to meet your specific needs.

Please complete our online enquiry form with a few details about the particular deal you’re looking for, and one of our advisors will be in touch to provide you with a free, no-obligation consultation.

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