First-Time Buyer Mortgage Rates

First time buyer fixed rates are currently sitting between 3.73% and 6.77% for those customers looking to get on the property ladder. There are 223 first time buyer products from 9 lenders on our database, product fees start from £0 and LTV percentages vary

First-Time Buyer Mortgage Rates

First time buyer fixed rates are currently sitting between 3.73% and 6.77% for those customers looking to get on the property ladder. There are 223 first time buyer products from 9 lenders on our database, product fees start from £0 and LTV percentages vary.     

Check back weekly or favourite this page to keep an eye on the ever-changing rates. The table below is updated as of June 11, 2024 and rates are subject to change.

First-Time Buyer Mortgage Rates –
2-year term

COMPANY TYPE TERM INITIAL RATE THE OVERALL COST FOR COMPARISON IS PRODUCT FEE LOAN TO VALUE (LTV)
COVENTRY BS First Time Buyer Fixed Rate Offset 2 years 5.56% 7.3 APRC £999.00 75%
COVENTRY BS First Time Buyer Fixed Rate 2 years 4.97% 7.2 APRC £999.00 65%
COVENTRY BS First Time Buyer Fixed Rate 2 years 5.01% 7.2 APRC £999.00 75%
COVENTRY BS First Time Buyer Fixed Rate 2 years 5.27% 7.2 APRC £999.00 80%
COVENTRY BS First Time Buyer Fixed Rate 2 years 5.54% 7.3 APRC £999.00 85%
COVENTRY BS First Time Buyer Fixed Rate 2 years 5.64% 7.3 APRC £999.00 90%
COVENTRY BS First Time Buyer Fixed Rate 2 years 5.99% 7.4 APRC £999.00 95%
COVENTRY BS First Time Buyer Fixed Rate 2 years 5.17% 7.1 APRC £0.00 65%
COVENTRY BS First Time Buyer Fixed Rate 2 years 5.24% 7.2 APRC £0.00 75%
COVENTRY BS First Time Buyer Fixed Rate 2 years 5.48% 7.2 APRC £0.00 80%
COVENTRY BS First Time Buyer Fixed Rate FTB 2 years 5.38% 7.2 APRC £0.00 80%
COVENTRY BS First Time Buyer Fixed Rate FTB 2 years 5.62% 7.3 APRC £0.00 85%
COVENTRY BS First Time Buyer Fixed Rate CV 2 years 5.62% 7.3 APRC £0.00 85%
COVENTRY BS First Time Buyer Fixed Rate CV 2 years 5.76% 7.3 APRC £0.00 90%
COVENTRY BS First Time Buyer Fixed Rate FTB 2 years 5.76% 7.3 APRC £0.00 90%
COVENTRY BS First Time Buyer Fixed Rate CV 2 years 5.98% 7.4 APRC £0.00 95%
COVENTRY BS First Time Buyer Fixed Rate FTB 2 years 5.98% 7.4 APRC £0.00 95%
HSBC First Time Buyer Fixed Fee Saver 2 years 5.11% 6.8 APRC £0.00 60%
HSBC First Time Buyer Fixed Standard 2 years 4.86% 6.9 APRC £999.00 60%
HSBC First Time Buyer Tracker Standard 2 years 5.44% 7.0 APRC £999.00 60%
HSBC First Time Buyer Fixed Fee Saver 2 years 5.24% 6.9 APRC £0.00 70%
HSBC First Time Buyer Fixed Standard 2 years 4.98% 6.9 APRC £999.00 70%
HSBC First Time Buyer Tracker Standard 2 years 5.54% 7.0 APRC £999.00 70%
HSBC First Time Buyer Fixed Fee Saver 2 years 5.24% 6.9 APRC £0.00 75%
HSBC First Time Buyer Fixed Standards 2 years 4.98% 6.9 APRC £999.00 75%
HSBC First Time Buyer Tracker Standard 2 years 5.54% 7.0 APRC £999.00 75%
HSBC First Time Buyer Fixed Fee Saver 2 years 5.54% 6.9 APRC £0.00 80%
HSBC First Time Buyer Fixed Standards 2 years 5.17% 6.9 APRC £999.00 80%
HSBC First Time Buyer Tracker Standard 2 years 5.64% 7.0 APRC £999.00 80%
HSBC First Time Buyer Fixed Fee Saver 2 years 5.54% 6.9 APRC £0.00 85%
HSBC First Time Buyer Fixed Standard 2 years 5.21% 6.9 APRC £999.00 85%
HSBC First Time Buyer Tracker Standard 2 years 5.79% 7.0 APRC £999.00 85%
HSBC First Time Buyer Fixed Fee Saver 2 years 5.79% 7.0 APRC £0.00 90%
HSBC First Time Buyer Fixed Standard 2 years 5.49% 7.0 APRC £999.00 90%
HSBC First Time Buyer Tracker Standard 2 years 6.14% 7.1 APRC £999.00 90%
HSBC First Time Buyer Fixed Fee Saver 2 years 6.05% 7.0 APRC £0.00 95%
LLOYDS BANK Club Lloyds First Time Buyer Fixed Rate 2 years 5.09% undefined £0.00 60%-75%
LLOYDS BANK Non-Club Lloyds First Time Buyer Fixed Rate 2 years 5.29% undefined £0.00 60%-75%
LLOYDS BANK Club Lloyds First Time Buyer Tracker 2 years 5.58% undefined £999.00 60%-75%
LLOYDS BANK Non-Club Lloyds First Time Buyer Tracker 2 years 5.78% undefined £999.00 60%-75%
NATIONWIDE BS First Time Buyer Fixed Rate 2 years 4.89% 7.7 APRC £999.00 75%
NATIONWIDE BS First Time Buyer Fixed Rate 2 years 5.29% 7.7 APRC £0.00 75%
NATIONWIDE BS First Time Buyer Tracker 2 years 5.59% 7.8 APRC £999.00 75%
NATIONWIDE BS First Time Buyer Tracker 2 years 6.19% 7.9 APRC £0.00 75%
NATWEST BANK PLC First Time Buyer Tracker 2 years 5.94% 8.24% £995.00 75%
NATWEST BANK PLC First Time Buyer Tracker 2 years 5.94% 8.24% £995.00 80%
NATWEST BANK PLC First Time Buyer Tracker 2 years 6.18% 8.24% £0.00 75%
NATWEST BANK PLC First Time Buyer Tracker 2 years 6.29% 8.24% £0.00 80%
NATWEST BANK PLC First Time Buyer Fixed Rate Online Only 2 years 4.97% 8.24% £1495.00 75%
NATWEST BANK PLC First Time Buyer Green Mortgage Fixed Rate 2 years 4.97% 8.24% £995.00 75%
NATWEST BANK PLC First Time Buyer Fixed Rate 2 years 5.02% 8.24% £995.00 75%
NATWEST BANK PLC First Time Buyer Fixed Rate 2 years 5.17% 8.24% £995.00 80%
NATWEST BANK PLC First Time Buyer Shared Equity Exclusive Cashback Fixed Rate 2 years 5.17% 8.24% £995.00 75%
NATWEST BANK PLC First Time Buyer Fixed Rate Online Only 2 years 5.02% 8.24% £1495.00 80%
NATWEST BANK PLC First Time Buyer Fixed Rate 2 years 5.22% 8.24% £0.00 75%
NATWEST BANK PLC First Time Buyer Shared Equity Exclusive Fixed Rate 2 years 5.37% 8.24% £0.00 75%
NATWEST BANK PLC First Time Buyer Fixed Rate 2 years 5.48% 8.24% £0.00 80%
SANTANDER UK PLC. First Time Buyer Fixed Rate 2 years 4.88% 7.2 APRC £999.00 75%
SANTANDER UK PLC. First Time Buyer Fixed Rate 2 years 5.18% 7.3 APRC £999.00 85%
SANTANDER UK PLC. First Time Buyer Fixed Rate 2 years 5.08% 7.2 APRC £0.00 75%
SANTANDER UK PLC. First Time Buyer Fixed Rate Cashback 2 years 6.12% 7.6 APRC £0.00 95%
SANTANDER UK PLC. First Time Buyer Fixed Rate 2 years 5.46% 7.4 APRC £0.00 85%
SANTANDER UK PLC. First Time Buyer Fixed Rate 2 years 5.62% 7.4 APRC £999.00 90%
SANTANDER UK PLC. First Time Buyer Fixed Rate 2 years 5.91% 7.5 APRC £0.00 90%
SANTANDER UK PLC. First Time Buyer Tracker 2 years 5.84% 7.4 APRC £999.00 75%
SANTANDER UK PLC. First Time Buyer Tracker 2 years 6.77% 7.6 APRC £0.00 90%
TSB First Time Buyer Fixed Rate 2 years 4.84% 7.5 APRC £995.00 60%
TSB First Time Buyer Fixed Rate 2 years 5.24% 7.6 APRC £0.00 60%
TSB First Time Buyer Tracker Rate 2 years 5.84% 7.7 APRC £995.00 60%
TSB First Time Buyer Fixed Rate 2 years 4.89% 7.6 APRC £995.00 60% to 75%
TSB First Time Buyer Fixed Rate 2 years 5.29% 7.6 APRC £0.00 60% to 75%
TSB First Time Buyer Tracker Rate 2 years 5.89% 7.7 APRC £995.00 60% to 75%
TSB First Time Buyer Fixed Rate 2 years 5.19% 7.6 APRC £995.00 75% to 80%
TSB First Time Buyer Fixed Rate 2 years 5.59% 7.6 APRC £0.00 75% to 80%
TSB First Time Buyer Tracker Rate 2 years 6.04% 7.8 APRC £995.00 75% to 80%
TSB First Time Buyer Fixed Rate 2 years 5.24% 7.6 APRC £995.00 80% to 85%
TSB First Time Buyer Fixed Rate 2 years 5.64% 7.6 APRC £0.00 80% to 85%
TSB First Time Buyer Tracker Rate 2 years 6.04% 7.8 APRC £995.00 80% to 85%
TSB First Time Buyer Fixed Rate 2 years 5.64% 7.7 APRC £995.00 85% to 90%
TSB First Time Buyer Fixed Rate 2 years 5.79% 7.7 APRC £0.00 85% to 90%
TSB First Time Buyer Fixed Rate 2 years 6.04% 7.7 APRC £0.00 90% to 95%
VIRGIN MONEY First Time Buyer Everyday Freedom to Fix Tracker 2 years 5.67% 8.9 APRC £995.00  
VIRGIN MONEY First Time Buyer Greener NewBuild Fixed Cashback Everyday 2 years 5.14% 8.8 APRC £995.00  
VIRGIN MONEY First Time Buyer Everyday Fixed Cashback 2 years 5.19% 8.8 APRC £995.00  
VIRGIN MONEY First Time Buyer Everyday Fixed 2 years 5.39% 8.8 APRC £0.00  
YORKSHIRE BS First Time Buyer Fixed Rate 2 years 4.99% 7.49 APRC £1495.00 75%
YORKSHIRE BS First Time Buyer Fixed Rate Cashback 2 years 5.24% 7.54 APRC £495.00 75%
YORKSHIRE BS First Time Buyer Fixed Rate 2 years 5.34% 7.56 APRC £0.00 75%
YORKSHIRE BS First Time Buyer Fixed Rate Offset 2 years 5.64% 7.63 APRC £0.00 75%
YORKSHIRE BS First Time Buyer Tracker 2 years 5.69% 7.64 APRC £995.00 75%
YORKSHIRE BS First Time Buyer Fixed Rate 2 years 5.34% 7.56 APRC £0.00 75%
YORKSHIRE BS First Time Buyer Fixed Rate Offset 2 years 5.29% 7.55 APRC £1495.00 75%

 

First-Time Buyer Mortgage Rates –
3-year term

COMPANY TYPE TERM INITIAL RATE THE OVERALL COST FOR COMPARISON IS PRODUCT FEE LOAN TO VALUE (LTV)
COVENTRY BS First Time Buyer Fixed Rate 3 years 4.92% 6.9 APRC £999.00 65%
COVENTRY BS First Time Buyer Fixed Rate 3 years 4.96% 6.9 APRC £999.00 75%
  First Time Buyer Fixed Rate 3 years 5.22% 7.0 APRC £999.00 80%
COVENTRY BS First Time Buyer Fixed Rate 3 years 5.41% 7.1 APRC £999.00 85%
COVENTRY BS First Time Buyer Fixed Rate 3 years 5.49% 7.1 APRC £999.00 90%
COVENTRY BS First Time Buyer Fixed Rate 3 years 5.90% 7.2 APRC £999.00 95%
COVENTRY BS First Time Buyer Fixed Rate FTB 3 years 5.12% 6.9 APRC £0.00 65%
COVENTRY BS First Time Buyer Fixed Rate FTB 3 years 5.19% 6.9 APRC £0.00 75%
COVENTRY BS First Time Buyer Fixed Rate FTB 3 years 5.33% 7.0 APRC £0.00 80%
COVENTRY BS First Time Buyer Fixed Rate 3 years 5.43% 7.0 APRC £0.00 80%
COVENTRY BS First Time Buyer Fixed Rate FTB 3 years 5.47% 7.0 APRC £0.00 85%
COVENTRY BS First Time Buyer Fixed Rate CV 3 years 5.47% 7.0 APRC £0.00 85%
COVENTRY BS First Time Buyer Fixed Rate FTB 3 years 5.58% 7.1 APRC £0.00 90%
COVENTRY BS First Time Buyer Fixed Rate CV 3 years 5.58% 7.1 APRC £0.00 90%
COVENTRY BS First Time Buyer Fixed Rate FTB 3 years 5.89% 7.2 APRC £0.00 95%
COVENTRY BS First Time Buyer Fixed Rate CV 3 years 5.89% 7.2 APRC £0.00 95%
HSBC First Time Buyer Fixed Fee Saver 3 years 4.99% 6.6 APRC £0.00 60%
HSBC First Time Buyer Fixed Standard 3 years 4.73% 6.6 APRC £999.00 60%
HSBC First Time Buyer Fixed Fee Saver 3 years 5.11% 6.7 APRC £0.00 70%
HSBC First Time Buyer Fixed Standard 3 years 4.83% 6.6 APRC £999.00 70%
HSBC First Time Buyer Fixed Fee Saver 3 years 5.11% 6.7 APRC £0.00 75%
HSBC First Time Buyer Fixed Standards 3 years 4.83% 6.6 APRC £999.00 75%
HSBC First Time Buyer Fixed Fee Saver 3 years 5.37% 6.7 APRC £0.00 80%
HSBC First Time Buyer Fixed Standards 3 years 5.06% 6.7 APRC £999.00 80%
HSBC First Time Buyer Fixed Fee Saver 3 years 5.37% 6.7 APRC £0.00 85%
HSBC First Time Buyer Fixed Standard 3 years 5.06% 6.7 APRC £999.00 85%
HSBC First Time Buyer Fixed Fee Saver 3 years 5.62% 6.8 APRC £0.00 90%
HSBC First Time Buyer Fixed Standard 3 years 5.31% 6.8 APRC £999.00 90%
HSBC First Time Buyer Fixed Fee Saver 3 years 5.88% 6.9 APRC £0.00 95%
NATIONWIDE BS First Time Buyer Fixed Rate 3 years 4.79% 7.4 APRC £999.00 75%
NATIONWIDE BS First Time Buyer Fixed Rate 3 years 5.19% 7.5 APRC £0.00 75%
SANTANDER UK PLC. First Time Buyer Fixed Rate New Build Exclusive 3 years 4.78% 7.0 APRC £999.00 75%
SANTANDER UK PLC. First Time Buyer Fixed Rate 3 years 4.78% 7.0 APRC £999.00 75%
SANTANDER UK PLC. First Time Buyer Fixed Rate New Build Exclusive 3 years 5.21% 7.1 APRC £999.00 85%
SANTANDER UK PLC. First Time Buyer Fixed Rate New Build Exclusive 3 years 5.06% 6.9 APRC £0.00 75%
SANTANDER UK PLC. First Time Buyer Fixed Rate 3 years 5.06% 6.9 APRC £0.00 75%
SANTANDER UK PLC. First Time Buyer Fixed Rate New Build Exclusive 3 years 5.41% 7.1 APRC £0.00 85%
SANTANDER UK PLC. First Time Buyer Fixed Rate New Build Exclusive 3 years 5.55% 7.2 APRC £999.00 90%
SANTANDER UK PLC. First Time Buyer Fixed Rate New Build Exclusive 3 years 5.87% 7.3 APRC £0.00 90%
SANTANDER UK PLC. First Time Buyer Fixed Rate Cashback 3 years 6.01% 7.4 APRC £0.00 95%
TSB First Time Buyer Fixed Rate 3 years 4.69% 7.3 APRC £995.00 60%
TSB First Time Buyer Fixed Rate 3 years 4.79% 7.3 APRC £995.00 60% to 75%
TSB First Time Buyer Fixed Rate 3 years 4.89% 7.3 APRC £995.00 75% to 80%
TSB First Time Buyer Fixed Rate 3 years 4.99% 7.4 APRC £995.00 80% to 85%
TSB First Time Buyer Fixed Rate 3 years 5.29% 7.4 APRC £995.00 85% to 90%
TSB First Time Buyer Fixed Rate 3 years 5.69% 7.5 APRC £995.00 90% to 95%
YORKSHIRE BS First Time Buyer Fixed Rate 3 years 4.79% 7.24 APRC £1495.00 75%
YORKSHIRE BS First Time Buyer Fixed Rate 3 years 5.19% 7.36 APRC £0.00 75%

 

First-Time Buyer Mortgage Rates –
5-year term

COMPANY TYPE TERM INITIAL RATE THE OVERALL COST FOR COMPARISON IS PRODUCT FEE LOAN TO VALUE (LTV)
COVENTRY BS First Time Buyer Fixed Rate Offset 5 years 5.22% 6.7 APRC £999.00 75%
COVENTRY BS First Time Buyer Fixed Rate 5 years 4.53% 6.3 APRC £999.00 65%
COVENTRY BS First Time Buyer Fixed Rate 5 years 4.66% 6.4 APRC £999.00 75%
COVENTRY BS First Time Buyer Fixed Rate 5 years 4.80% 6.5 APRC £999.00 80%
COVENTRY BS First Time Buyer Fixed Rate 5 years 5.10% 6.6 APRC £999.00 85%
COVENTRY BS First Time Buyer Fixed Rate 5 years 5.24% 6.7 APRC £999.00 90%
COVENTRY BS First Time Buyer Fixed Rate 5 years 5.55% 6.8 APRC £999.00 95%
COVENTRY BS First Time Buyer Fixed Rate 5 years 4.65% 6.3 APRC £0.00 65%
COVENTRY BS First Time Buyer Fixed Rate 5 years 4.74% 6.4 APRC £0.00 75%
COVENTRY BS First Time Buyer Fixed Rate FTB 5 years 4.86% 6.4 APRC £0.00 80%
COVENTRY BS First Time Buyer Fixed Rate 5 years 4.96% 6.5 APRC £0.00 80%
COVENTRY BS First Time Buyer Fixed Rate FTB 5 years 5.00% 6.5 APRC £0.00 85%
COVENTRY BS First Time Buyer Fixed Rate CV 5 years 5.00% 6.5 APRC £0.00 85%
COVENTRY BS First Time Buyer Fixed Rate FTB 5 years 5.14% 6.6 APRC £0.00 90%
COVENTRY BS First Time Buyer Fixed Rate CV 5 years 5.14% 6.6 APRC £0.00 90%
COVENTRY BS First Time Buyer Fixed Rate FTB 5 years 5.45% 6.7 APRC £0.00 95%
COVENTRY BS First Time Buyer Fixed Rate CV 5 years 5.45% 6.7 APRC £0.00 95%
HSBC First Time Buyer Fixed Fee Saver 5 years 4.70% 6.2 APRC £0.00 60%
HSBC First Time Buyer Fixed Standard 5 years 4.48% 6.2 APRC £999.00 60%
HSBC First Time Buyer Fixed Premier Standard 5 years 4.45% 6.2 APRC £1499.00 60%
HSBC First Time Buyer Fixed Fee Saver 5 years 4.77% 6.2 APRC £0.00 70%
HSBC First Time Buyer Fixed Standard 5 years 4.56% 6.2 APRC £999.00 70%
HSBC First Time Buyer Fixed Premier Standard 5 years 4.53% 6.2 APRC £1499.00 70%
HSBC First Time Buyer Fixed Fee Saver 5 years 4.77% 6.2 APRC £0.00 75%
HSBC First Time Buyer Fixed Standards 5 years 4.56% 6.2 APRC £999.00 75%
HSBC First Time Buyer Fixed Premier Standard 5 years 4.53% 6.2 APRC £1499.00 75%
HSBC First Time Buyer Fixed Fee Saver 5 years 5.00% 6.3 APRC £0.00 80%
HSBC First Time Buyer Fixed Standard 5 years 4.76% 6.3 APRC £999.00 80%
HSBC First Time Buyer Fixed Premier Standard 5 years 4.73% 6.3 APRC £1499.00 80%
HSBC First Time Buyer Fixed Fee Saver 5 years 5.00% 6.3 APRC £0.00 85%
HSBC First Time Buyer Fixed Standard 5 years 4.76% 6.3 APRC £999.00 85%
HSBC First Time Buyer Fixed Premier Standard 5 years 3.73% 6.3 APRC £1499.00 85%
HSBC First Time Buyer Fixed Fee Saver 5 years 5.11% 6.4 APRC £0.00 90%
HSBC First Time Buyer Fixed Standard 5 years 4.93% 6.4 APRC £999.00 90%
HSBC First Time Buyer Fixed Premier Standard 5 years 4.90% 6.4 APRC £1499.00 90%
HSBC First Time Buyer Fixed Fee Saver 5 years 5.47% 6.5 APRC £0.00 95%
LLOYDS BANK Club Lloyds First Time Buyer Fixed Rate 5 years 4.65% undefined £0.00 60%-75%
LLOYDS BANK Non-Club Lloyds First Time Buyer Fixed Rate 5 years 4.85% undefined £0.00 60%-75%
NATIONWIDE BS First Time Buyer Fixed Rate 5 years 4.67% 6.9 APRC £999.00 75%
NATIONWIDE BS First Time Buyer Fixed Rate 5 years 4.89% 7.0 APRC £0.00 75%
NATWEST BANK PLC First Time Buyer Fixed Rate Green Mortgage 5 years 4.57% 8.24% £995.00 75%
NATWEST BANK PLC First Time Buyer Fixed Rate 5 years 4.62% 8.24% £995.00 75%
NATWEST BANK PLC First Time Buyer Fixed Rate Online Only 5 years 4.57% 8.24% £1495.00 75%
NATWEST BANK PLC First Time Buyer Fixed Rate Online Only 5 years 4.68% 8.24% £1495.00 80%
NATWEST BANK PLC First Time Buyer Fixed Rate 5 years 4.73% 8.24% £995.00 80%
NATWEST BANK PLC First Time Buyer Shared Equity Exclusive Cashback Fixed Rate 5 years 4.77% 8.24% £995.00 75%
NATWEST BANK PLC First Time Buyer Fixed Rate 5 years 4.77% 8.24% £0.00 75%
NATWEST BANK PLC First Time Buyer Shared Equity Exclusive Fixed Rate 5 years 4.92% 8.24% £0.00 75%
NATWEST BANK PLC First Time Buyer Fixed Rate 5 years 4.87% 8.24% £0.00 80%
SANTANDER UK PLC. First Time Buyer Fixed Rate 5 years 4.58% 6.5 APRC £999.00 75%
SANTANDER UK PLC. First Time Buyer Fixed Rate 5 years 4.68% 6.4 APRC £0.00 75%
SANTANDER UK PLC. First Time Buyer Fixed Rate 5 years 4.80% 6.6 APRC £999.00 85%
SANTANDER UK PLC. First Time Buyer Fixed Rate 5 years 5.01% 6.7 APRC £0.00 85%
SANTANDER UK PLC. First Time Buyer Fixed Rate 5 years 5.20% 6.8 APRC £999.00 90%
SANTANDER UK PLC. First Time Buyer Fixed Rate 5 years 5.31% 6.8 APRC £0.00 90%
SANTANDER UK PLC. First Time Buyer Fixed Rate Cashback 5 years 5.61% 7.0 APRC £0.00 95%
TSB First Time Buyer Fixed Rate 5 years 4.39% 6.8 APRC £995.00 60%
TSB First Time Buyer Fixed Rate 5 years 4.59% 6.8 APRC £0.00 60%
TSB First Time Buyer Fixed Rate 5 years 4.54% 6.8 APRC £995.00 60% to 75%
TSB First Time Buyer Fixed Rate 5 years 4.74% 6.8 APRC £0.00 60% to 75%
TSB First Time Buyer Fixed Rate 5 years 4.79% 6.9 APRC £995.00 75% to 80%
TSB First Time Buyer Fixed Rate 5 years 4.99% 6.9 APRC £0.00 75% to 80%
TSB First Time Buyer Fixed Rate 5 years 4.79% 6.9 APRC £995.00 80% to 85%
TSB First Time Buyer Fixed Rate 5 years 4.99% 6.9 APRC £0.00 80% to 85%
TSB First Time Buyer Fixed Rate 5 years 5.19% 7.1 APRC £995.00 85% to 90%
TSB First Time Buyer Fixed Rate 5 years 5.24% 7.0 APRC £0.00 85% to 90%
TSB First Time Buyer Fixed Rate 5 years 5.44% 7.1 APRC £0.00 90% to 95%
VIRGIN MONEY First Time Buyer Greener NewBuild Fixed Cashback Everyday 5 years 4.64% 7.5 APRC £995.00  
VIRGIN MONEY First Time Buyer Everyday Fixed Cashback 5 years 4.69% 7.5 APRC £995.00  
VIRGIN MONEY First Time Buyer Everyday Fixed 5 years 4.89% 7.6 APRC £0.00  
VIRGIN MONEY First Time Buyer CA Rewards Everyday Fixed Cashback 5 years 5.00% 7.6 APRC £0.00  
YORKSHIRE BS First Time Buyer Fixed Rate 5 years 4.69% 6.84 APRC £1495.00 75%
YORKSHIRE BS First Time Buyer Fixed Rate Cashback 5 years 4.79% 6.89 APRC £495.00 75%
YORKSHIRE BS First Time Buyer Fixed Rate 5 years 4.84% 6.91 APRC £0.00 75%
YORKSHIRE BS First Time Buyer Fixed Rate Offset 5 years 5.14% 7.05 APRC £0.00 75%
YORKSHIRE BS First Time Buyer Fixed Rate Cashback 5 years 4.84% 6.91 APRC £0.00 75%
YORKSHIRE BS First Time Buyer Fixed Rate Offset 5 years 4.99% 6.98 APRC £1495.00 75%

 

First-Time Buyer Mortgage Rates –
10-year term

COMPANY TYPE TERM INITIAL RATE THE OVERALL COST FOR COMPARISON IS PRODUCT FEE LOAN TO VALUE (LTV)
LLOYDS BANK Club Lloyds First Time Buyer Fixed Rate 10 years 4.85% undefined £999.00 60%-75%
LLOYDS BANK Club Lloyds First Time Buyer Fixed Rate 10 years 4.94% undefined £0.00 60%-75%
NATIONWIDE BS First Time Buyer Fixed Rate 10 years 4.82% 6.2 APRC £999.00 75%
NATIONWIDE BS First Time Buyer Fixed Rate 10 years 5.00% 6.2 APRC £0.00 75%
VIRGIN MONEY First Time Buyer Everyday Fixed Cashback 10 years 4.89% 6.4 APRC £995.00  
YORKSHIRE BS First Time Buyer Fixed Rate 10 years 5.39% 6.33 APRC £0.00 75%
YORKSHIRE BS First Time Buyer Fixed Rate Cashback 10 years 5.34% 6.29 APRC £1495.00 75%

 

First-time buyer FAQs

 

Which mortgage is best for first-time buyers? 

The choice of variable rate or fixed rate is a personal one depending on circumstances, but first-time buyers should consider first what they can afford when considering other outgoings and how a change in rate would affect those payments. Fixed rate mortgages allow for budget certainty for the duration of the mortgage term and are a safer option for those wanting to know how much their outgoings are each month.  

Currently recommended is Yorkshire Building Society’s fixed rate cashback mortgage, but speaking with a broker can secure the best rates for first-time buyers as they have access to many lenders at one time to save you the leg work of getting multiple quotes.  

The best first-time buyer mortgage rates will depend on individual (or combined if buying as a couple) income and the amount of deposit you have. Generally, the higher your deposit, the better the rates may be available to you, providing you have a good credit score and meet the criteria for your chosen mortgage provider. This also means you have a better chance of being accepted for a mortgage.  

Government Mortgage Schemes are also a great option for first time buyers as they allow for a 5% deposit, it is worth noting that the current Government schemes are only available to the end of 2023. Some providers are offering 95% mortgages outside of the government schemes although these rates may be higher than those when a higher deposit is available.  

A further great option for first time buyers are family assist mortgages whereby parents or other family members can deposit savings with their mortgage lender for the term of the fixed rate, allowing the first-time buyer to put down little to no deposit in the first instance. This, of course, is dependent on your family being willing to do so. 

How much mortgage can a first-time buyer borrow? 

The maximum amount that a first-time buyer can borrow is based on your annual salaried wage, this is roughly around 4 times your annual salary but can be 5 or 6 times depending on the lender, the property and borrower’s individual circumstances including the deposit available.  

There are many affordability calculators online that can give first time buyers a good indication of how much can be borrowed based on your current circumstances, including our own free mortgage calculator. These calculators are not definite and should be used as an initial idea rather than a certainty. A broker will be able to offer the best advice for your circumstances and often don’t charge until a mortgage is secured.  

Mortgage providers assess how much you can afford based on your current incomings and outgoings and they also consider your credit score history. Ensuring you have a good credit score and your outgoings are low is a good way to help better your chances of being accepted for a mortgage.  

Speaking with a broker can secure the best rates for first-time buyers as they have access to many lenders at one time to save you the leg work of getting multiple quotes. We recommend that you look to our Best in Mortgage Special Reports to find a recommended mortgage broker in your area. 

The best mortgage rates will depend on individual (or combined if buying as a couple) income and the amount of deposit you have. Generally, the higher your deposit, the better the rates may be available to you, providing you have a good credit score and meet the criteria for your chosen mortgage provider. This also means you have a better chance of being accepted for a mortgage. 

Can I get a 90% mortgage as a first-time buyer? 

First-time buyers can get a 90% mortgage, provided they meet the necessary criteria including credit history and affordability. The best mortgage rates will depend on individual (or combined if buying as a couple) income and the amount of deposit you have. Generally, the higher your deposit, the better the rates may be available to you, providing you have a good credit score and meet the criteria for your chosen mortgage provider. This also means you have a better chance of being accepted for a mortgage. 

Government Mortgage Schemes are also a great option for first time buyers as they allow for a 5% deposit, it is worth noting that the current Government schemes are only available to the end of 2023. Some providers are offering 95% mortgages outside of the government schemes although these rates may be higher than those when a higher deposit is available. 

Can I get a first-time buyer mortgage if I own a house?

You cannot be considered a first-time buyer if you own, have owned, inherited or been named on the deeds of another residential property previously, in the UK or abroad. You will also not be eligible if your spouse has bought a property in the past even if you have never owned a property yourself. You can be eligible for a first-time buyer mortgage if you have owned or currently owned a commercial property that does not have any living space attached to it.