Looking at first time buyer mortgages?

If you're a first-time buyer, looking to take the first step onto the property ladder the experts at John Charcol can help guide you through the complicated mortgage maze and assist you in finding the best mortgage deal for your individual needs. Generally speaking in the world of mortgages the bigger your deposit the more access you'll have to cheaper deals on the market. As a first time buyer you're unlikely to have a large deposit but there are a wealth of deals in the 95-100% loan to value range that could help you get on the property ladder faster, as long as you have good credit record and have a sufficient income. Equally, mortgage products in which you parents, guardian or grandparents can help you get on the ladder by acting as a guarantor could provide you with another route to owning your own home faster.

Why speak to a mortgage adviser?

Our team of experts at John Charcol advisers can guide you through the process of applying for a mortgage and getting you the mortgage that's right for you. Before you decide to opt for one of the mortgage below, it's important to speak with a mortgage expert. Our advisers at John Charcol will be able to assist you in comparing products from across the mortgage market to help you decide which mortgage is best for you and your individual needs. If you could be better off taking out a mortgage with another lender our experts will advise you.

Current first time buyer mortgage deals:

Initial Rate
?
Total amount of credit
?
Monthly repayments
?
Scheme fees
?
Total amount payable
?
Overall rate
?
Max Loan to value 90%: 2 Year 1.95% Fixed. Purchase Only.
Initial Rate
1.95% Fixed for 2 years then 3.99% - Discounted variable for 3 years followed by 5.64% variable for term
Total amount of credit
£360,000
Monthly repayments
£1,516
Scheme fees
£1,429
Total amount payable
£620,050
Overall rate
4.70% APRC

Fees and charges:

Booking Fee£199
Arrangement fee£800
Valuation fee£430
Other fees£0
Cashback£0

Flexibility:

Overpayments allowed?Unlimited
Early Repayment ChargesNo early repayment charge but a fee of £150 is payable when the mortgage is redeemed

Other info:

Exit fee£150
Basic legalsPayable
Special Deal
Call now for more information: 0344 346 3672
Representative example A mortgage of £360,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years at 1.95%, then on a discount variable rate of 3.99% (1.65% discount off variable rate, currently 5.64%) for 3 years and then on a variable rate of 5.64% for the remaining 20 years would require 24 payments of £1,516.20, followed by 36 payments of £1,867.02 and 240 payments of £2,145.29. The total amount payable would be £620,050 made up of the loan amount plus interest (£258,471) and fees (£1,579 which includes exit fees of £150). The overall cost for comparison is 4.70% APRC representative.
Max Loan to value 100%: 3 Year 2.99% Fixed Family Springboard Mortgage
Initial Rate
2.99% Fixed until 30/04/2020 then 2.74% - Barclays Base Rate plus 2.49% for term
Total amount of credit
£450,000
Monthly repayments
£2,130
Scheme fees
£35
Total amount payable
£625,786
Overall rate
2.80% APRC

Fees and charges:

Booking Fee£0
Arrangement fee£0
Valuation fee£0
Other fees£35
Cashback£0

Flexibility:

Overpayments allowed?10% per annum
Early Repayment Charges£80 plus (3% until 30/04/2020) of balance repaid

Other info:

Exit fee£80
Basic legalsPayable
Special DealFree Valuation. A Helpful Start Account through Barclays Bank PLC must be taken out as a condition of this mortgage
Call now for more information: 0344 346 3672
Representative example A mortgage of £450,000 payable over 25 years on a repayment basis, initially on a fixed rate for 3 years at 2.99% and then on a tracker variable rate of 2.74% (2.49% above Barclays Bank Base Rate, currently 0.25%, which will not go below a floor of 2.49%) for the remaining 22 years would require 40 payments of £2,129.89 and 260 payments of £2,078.75. The total amount payable would be £625,786 made up of the loan amount plus interest (£175,671) and fees (£115 which includes exit fees of £80). The overall cost for comparison is 2.80% APRC representative.
Max Loan to value 95%: 2 Year 2.99% Fixed. Maximum loan £275,000.
Initial Rate
2.99% Fixed until 01/06/2019 then 5.49% Variable for term
Total amount of credit
£275,000
Monthly repayments
£1,302
Scheme fees
£1,029
Total amount payable
£487,770
Overall rate
5.10% APRC

Fees and charges:

Booking Fee£199
Arrangement fee£800
Valuation fee£0
Other fees£30
Cashback£0

Flexibility:

Overpayments allowed?10% per annum
Early Repayment Charges£140, plus (6 months Interest until 01/06/19). Interest at 2.99%

Other info:

Exit fee£140
Basic legalsPayable
Special DealFree Valuation
Call now for more information: 0344 346 3672
Representative example A mortgage of £275,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years at 2.99% and then on a variable rate of 5.49% for the remaining 23 years would require 27 payments of £1,301.60 and 273 payments of £1,653.69. The total amount payable would be £487,770 made up of the loan amount plus interest (£211,601) and fees (£1,169 which includes exit fees of £140). The overall cost for comparison is 5.10% APRC representative.

Legal

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.

John Charcol is a trading name of John Charcol Limited and its Appointed Representatives. John Charcol Limited is authorised and regulated by the Financial Conduct Authority. The Financial Services Register number is 665649. Registered in England No. 9157892. Registered office address for John Charcol Limited is 5th Floor, Cutlers Exchange, 123 Houndsditch, London, EC3A 7BU. The FCA does not regulate some investment mortgage contracts. Calls may be recorded for training and monitoring.