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First Time Buyer Mortgages


If you are looking to purchase your first home, or have not owned a home for at least two years, you will require a First Time Buyer (FTB) mortgage.

Mortgage lenders will often give incentives as part of a First Time Buyer deal, such as free valuations and free legal costs.  Some lenders may allow you to borrow a higher proportion of the purchase price than typically accepted.

(For example, if you are purchasing a house for £100,000 a 95% LTV mortgage would mean you are borrowing £95,000).

If you do not have a sufficient deposit but your parents would like to help, then we could arrange Guarantor or Family Assist mortgages.

To add further complication, you will need to decide on how the mortgage interest is charged.  Do you need a fixed rate, tracker rate, discount rate, LIBOR rate or standard variable rate?

The good news, is that being independent mortgage advisers,  we can shop around to find the most suitable and competitive deal for you. Typically the best First Time Buyers deals are not available with High Street Lenders, so it pays to use a good, trustworthy adviser to take you through the maze that is property purchasing!

We will also take away the stress of the whole process, by chasing the solicitors, lenders and estate agents to help ensure the loan completes quickly and efficiently.

To speak to a qualified adviser now, please call us on 0116 253 5600 or complete the enquiry form.

Bankfield offers a comprehensive range of mortgage products from across the market but not deals that you can only obtain by going direct to a lender.

Your home may be repossessed if you do not keep up repayments on your mortgage.
For mortgages you can choose how we are paid. You could pay us a fee or we could receive commission from the lender or a combination of both. The precise amount of the fee depends on your circumstances but as an example if we arrange a mortgage loan of £100,000 the fee would be £100,000 x 1% = £1,000.