First time buyer
How does a first time buyer mortgage work?
Start your mortgage online
See the deals you qualify for & how much you could borrow
Thinking about purchasing your first home?
With so many factors to consider, the process can feel daunting. It’s not always easy to know exactly how to take the first step. We’re on hand to help guide you through the whole process, with fee free advice from start to finish.
But for now, here’s what you need to know as a first time buyer - and how to get moving.
Explore our first time buyer products
Mortgage in Principle
An initial agreement confirming how much you could be able to borrow.
Shared Ownership Mortgage
Own a portion of your home and pay rent to a housing association on the rest.
Shared Equity Mortgage
Get on the property ladder by combining a small deposit with an equity loan.
Which first time buyer mortgage is right for me?
Before you submit a formal mortgage application, you’ll need to think carefully about exactly what sort of deal you’ll want. Like every other property purchase, the mortgage type you choose will determine how much you’ll pay in monthly mortgage repayments.
At L&C, we can talk you through all the available options to find the best deal for you. There are lots of different types of mortgages, but we can find the right product for you.
Fixed rate mortgages
A fixed rate mortgage is a type of home loan where the interest rate remains the same for a set period of time.There’s a wide range of deals to choose from, with terms ranging from two to ten years (sometimes longer).
The interest rate you’ll pay varies depending on how long you fix your mortgage rate for. As a general rule, the longer you fix for, the higher the rate will be. The advantage? You’ll know exactly how much you’ll be paying back each month.
Tracker mortgage
Tracker mortgages track the Bank of England base rate. Essentially, this means that when the base rate rises, your monthly payments will increase, and when it falls, they’ll reduce. They’re usually for two or five years.
Schemes available to first time buyers
There are a number of first time buyer schemes designed to give first time buyers a leg up onto the property ladder. At L&C, our experts can provide fee free advice about the different schemes, helping you at every step to find the best kind of homeownership for you.
An expert’s guide to buying your first home
Our mortgage expert, David Hollingworth, provides tips on getting a mortgage to buy a home.
Let us guide you
Check out our essential guides on all you need to know about the mortgage process.
How much deposit do I need?
When it coms to putting down a deposit to buy a property, the more you can save up, the better.
How much does it cost to buy a house?
Make no mistake about it - buying property is expensive, however modest your new home. A mortgage is not the only expense.
How much will conveyancing cost?
Get a quote online and find out how much the legal work will cost.
What are the different types of mortgage?
With so many different mortgage deals to choose from, finding the right one for your individual circmstances can feel difficult to find.
Handy tools and calculators
Practical gadgets to help keep things simple
Ready to find your perfect deal?
At L&C, we’re there from the very start of your journey to guide you through each and every step.
We’ll search across the market to find the best deal for you
We’ll handle all the paperwork & make the process hassle-free
We won’t charge you a penny - our entire advice service is fee free!
Start your journey today
Book an appointment with an advisor today and we’ll find you the best first mortgage deal, for free.
Word of mouth
Doing a good job is important to us, so we’re always delighted to receive positive feedback from our customers.