First time Buyer
Your first step on the property ladder
Let’s face it, the road to owning your first home is a bit scary.
That’s one reason why more first time buyers now trust the impartial personal advisers at Which? to cut through the marketing jargon, help work out what they really need, and then comb the entire market to reveal the very best deals available.
Specialist advice for first time buyers
Your starting point is probably deciding how much you can afford to pay each month. You’ll also need to raise a deposit – usually ten per cent of the property’s value or more.
But with interest rates still temptingly low, Which? believes we can quickly seek out deals that are perfect for our customers – even those in less common situations – while making sure they don’t rush into any costly mistakes.
With a hassle-free end-to-end service, over the phone with a real person every time you call, Which? is proud to offer first time buyers our best advice ever.
First time buyer basics
If you have yet to buy your first home, it may feel as if the property ladder is being pulled up beyond your reach.
First time buyer mortgage rates
Taking your first step onto the property ladder is a big moment, so it’s crucial you get the right advice.
Parents & first time buyers
In the current property market, the bank of mum and dad, or even granny and granddad, has been the only way for many people to buy their first home.
How big a deposit do I need?
There is no standard amount that people need to have saved up but the bigger the deposit you have, the cheaper the mortgage deals you will be able to get.
Shared Equity and Shared Ownership
Both Shared Equity and Shared Ownership schemes aim to make home ownership more affordable for people without substantial savings.
95% and 100% mortgages
Over recent years the size of the average deposit that lenders have wanted from first time buyers has significantly increased. In the past there were many more 95% mortgages available and 100% or even 125% mortgages were not uncommon but now there are much fewer of them.
Buying a house
Buying your first home is possibly the biggest decision you will ever make both for your finances and your day-to-day life.