First time buyer mortgage deals

How do I compare first-time buyer mortgage deals?

Sorting through your options as a first-time buyer can be daunting, which is why we offer a simple tool to help you get a quick comparison of the mortgage deals available. Here’s how to use it:

1. Enter your preferred property value, desired loan amount, and mortgage term.
2. Customise your search by selecting your preferred mortgage type, rate options, and other features important to you.
3. Compare offers based on factors like interest rates, lender fees, flexibility, and overall costs over the mortgage term.
4. Once you’ve explored your options, connect with one of our specialist advisors for expert advice to make a confident, informed decision.

First-time buyer mortgage deal terminology explained

We appreciate that understanding the jargon around mortgage rates can be challenging for many first-time buyers, so we've broken down the essential terms below to help you compare your options with clarity.

• Loan-to-value (LTV) ratio: This is the percentage of the property’s value you’re borrowing. For example, borrowing £225,000 on a £250,000 property would give you a 90% LTV. Knowing your LTV can help you understand which deals might be available to you.
• Fixed vs variable rates: With a fixed-rate mortgage, your interest rate stays the same for a set period, providing stability in payments. On the other hand, a variable rate can change over time, which might offer savings if rates go down but could also mean higher payments if rates rise.
• Initial rate and reversion rate: The initial rate is what you’ll pay in the early years of your mortgage, which typically lasts between two and five years. After this period, the rate reverts to the lender’s standard variable rate (SVR) – an interest rate they set themselves, which is normally higher than the initial rate. We’ll help you understand what this means for your long-term costs.
• APRC: The Annual Percentage Rate of Charge (APRC) represents the overall cost of the mortgage, making it easier to compare deals.

Our team of expert advisors is here to guide you through every detail, ensuring you feel secure and informed in your decision.

How can our experts help you secure the best first-time buyer mortgage rates?

Finding the right mortgage deal for a first-time home purchase can be a complex and stressful process. The sheer number of options alone can make it feel almost impossible to ensure you get the best deal.

With more than 30 years of experience providing best-in-class advice, we know how to tailor mortgage deals specifically for first-time buyers. Our unmatched market knowledge means we're uniquely positioned to help you find the right deal for your needs. We understand the challenges you face and are committed to guiding you through every step of the process. From comparing rates to managing paperwork, we're here to ensure you feel confident and prepared for the decisions ahead.

Why choose Alexander Hall to get you the best first-time mortgage rates?

When it comes to securing your first mortgage, you need a trusted partner. Here’s why you can rely on Alexander Hall:

• Tailored advice: We take the time to understand your financial situation and goals, providing personalised advice to match your needs.
• Comprehensive search: With access to over 100 lenders, we can find the best mortgages for first-time buyers from across the entire market and use our expertise to help you put your best foot forward.
• Stress-free experience: We handle all the paperwork, so you can focus on the excitement of buying your first home.
• Top-rated service: Thousands of clients have rated us 'Excellent' on Trustpilot, reflecting our commitment to exceptional service.
• Award-winning team: We've received plenty of recognition for excellence over the years, including Best Broker for Customer Service in the Legal & General 2024 Mortgage Club Awards. Expect nothing but the best if you decide to work with us.