First time buyer mortgages

Getting a foothold on the property ladder can be difficult for first time buyers with no equity. Possible solutions include 100% mortgages, joint or shared ownership, or a guarantor mortgage. Special deals for first time buyers can help to keep down the costs, with discounted rates or fees paid for you.

Pros:

• Can help bridge the gap between your income and the cost of buying.
• Special offers can help with deposits and other costs incurred

Cons:

• Interest rates or charges may be slightly higher than other mortgages
• The legalities of shared ownership or a guarantor mortgage can be complex - ensure contracts are clear to everyone involved