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With so many deals to choose from, finding the right first time buyer mortgage can be confusing. However, as a first time buyer you can enjoy some great money-saving offers, with extras and incentives from cash back to 3 year fixed rates. Ascot Mortgages can find the right mortgage for you. Our service is impartial and brings you the best mortgages from across the market.

Which type of first time buyer mortgage?

As a first time buyer, you have lots of questions about how to get a mortgage and which type suits you best. For example, should you choose a fixed rate, a discount, capped or tracker mortgage? Many First Time Buyers require a high loan-to-value (LTV) mortgage – These are mortgages purposefully designed for first time buyers who have a low deposit – for more information on our low deposit mortgages please click: 90% LTV mortgage or 95% LTV mortgage.

We can help you understand the difference between various offers, and help you secure a mortgage that fits your circumstances. Here are some of the main mortgage types and ways to repay that you might want to consider:

  • Fixed – pay a set rate of interest for an agreed period.
  • Tracker – your interest rate tracks the Bank of England base rate and can rise or fall
  • Discounted – offers a small discount on the lender’s standard variable interest rate
  • Capped – your interest rate won’t rise above an agreed level for a set period of time
  • Current Account – combine a bank account with a mortgage, allowing you to make overpayments and receive daily interest changes
  • Offset – hold all of your other borrowings with the same lender

Specialist first time buyer mortgage advice

Getting on the property ladder is becoming increasingly more difficult. There are several types of agreements tailor-made for first time buyers. Options include shared ownership, guarantor arrangements, shared ownership and the government’s own Right to Buy Mortgage Scheme, which was relaunched in 2012.

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