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
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Total amount of credit
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Monthly repayments
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Scheme fees
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Total amount payable
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Overall rate
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Max Loan to value 90%: 2 Year 1.65% Fixed.
Initial Rate
1.65% Fixed for 2 years then 4.74% variable for term
Total amount of credit
£405,000
Monthly repayments
£1,648
Scheme fees
£1,632
Total amount payable
£662,723
Overall rate
4.30% APRC

Fees and charges:

Booking Fee£150
Arrangement fee£995
Valuation fee£462
Other fees£25
Cashback£0

Flexibility:

Overpayments allowed?10% per annum
Early Repayment Charges£125, plus (3% in years 1-2)

Other info:

Exit fee£125
Basic legalsPayable
Special Deal
Call now for more information: 0344 346 3672
Representative example A mortgage of £405,000 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years at 1.65%, then on a variable rate of 4.74% for the remaining 23 years would require 24 payments of £1,647.56 and 276 payments of £2,251.54. The total amount payable would be £662,723 made up of the loan amount plus interest (£255,966) and fees (£1,757 which includes exit fees of £125). The overall cost for comparison is 4.30% APRC representative.
Max Loan to value 100%: 3 Year 2.99% Fixed Family Springboard Mortgage
Initial Rate
2.99% Fixed until 31/10/2020 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
£625,881
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 31/10/2020) 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 41 payments of £2,129.89 and 259 payments of £2,078.92. The total amount payable would be £625,881 made up of the loan amount plus interest (£175,766) 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 01/00/2019 then 5.49% Variable for term
Total amount of credit
£275,000
Monthly repayments
£1,302
Scheme fees
£1,029
Total amount payable
£488,448
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 01/08/19). 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 26 payments of £1,301.60 and 274 payments of £1,654.88. The total amount payable would be £488,448 made up of the loan amount plus interest (£212,279) and fees (£1,169 which includes exit fees of £140). The overall cost for comparison is 5.10% APRC representative.