First-time buyer mortgages

Discover everything you need to know about purchasing your first home, from understanding mortgage options to navigating the buying process. Empower yourself with expert guidance and resources designed to help you make informed decisions and achieve your homeownership goals.

Understanding Mortgages

Understanding the basics of how mortgages work, including the different types available and the application process, is essential for any prospective homebuyer.

What is a Mortgage

A mortgage is a loan individuals use to buy a home. It allows the borrower to purchase a property without paying the full price upfront, agreeing instead to repay the loan over a term of up to 40 years.

How Mortgages Work

With a mortgage, you borrow a certain amount of money from a lender to buy a home. You then make regular monthly payments to repay the loan plus interest.

Influencing Factors

Several factors can affect the terms of your mortgage, including your credit score, income, employment history, down payment amount, and the current state of the housing market.

Your home may be repossessed if you do not keep up repayments on your mortgage

Understanding Credit Scores

Your credit score plays a crucial role in the mortgage application process. Here's what you need to know.

What is a Credit Score?

A credit score is a numerical representation of your creditworthiness based on your credit history. Lenders use it to assess the risk of lending to you.

Importance of Credit Scores in Mortgage Approval

Your credit score influences whether you'll be approved for a mortgage and the terms you'll receive, including the interest rate.

Impact of Credit Scores on Mortgage Rates

Higher credit scores typically lead to lower mortgage rates, which can result in significant savings over the life of your loan.

Tools and Calculators

Helping to Keep Things Simple

How much can I borrow?

What will my monthly repayments be?

How much stamp duty will I pay?

If I overpay my mortgage, how much could I save?

Affordability calculator

This information is a guide only and should not be relied on as a recommendation or advice that any particular mortgage is suitable for you.

These figures are only illustrative. An assessment of your needs will be confirmed before a recommendation can be made. A Key Facts Illustration, which is personal to your circumstances, will be provided if a recommendation for a mortgage product is made.

All mortgages are subject to the applicant(s) meeting the eligibility criteria of the specific lender.

You should make an appointment to receive mortgage advice which will based on your needs and circumstances'.

Your home may be repossessed if you do not keep up repayments on your mortgage