First-time buyer mortgages

Planning to buy your first home? Cleerly is here to help.

Try our online mortgage calculator tool to find out how much you could borrow, it only takes five minutes!

First-time buyer mortgage experts

Purchasing your first house is one of life’s biggest milestones – nothing beats that feeling of being handed the keys to your new home for the first time. But there are plenty of obstacles to navigate along the way.

You've saved up for a deposit and found the property you want to call home. But now comes the daunting part - turning the dream into a reality. There’s a lot to be done before putting that final signature on the dotted line - arranging a mortgage in principle, negotiating the right price, making an offer, appointing a solicitor...the 'to do' list can seem endless. Thankfully, our team of specialist first-time buyer mortgage advisors are here to help. Call us today on 02394 212 912.

First-time buyer mortgage specialists

For over 15 years, Cleerly has been assisting first-time buyers with their mortgage applications.

Starting your mortgage journey with Cleerly is easy. We just require a little bit of information about your employment and financial background and then you can receive mortgage quotes straight to your inbox.

Or why not take a look at our mortgage calculator? It’s an easy-to-use tool that shows you mortgages you may be approved for based on a successful application. Just enter your property value, how much you wish to borrow and how much you wish to pay back each month. Once you’ve found a mortgage you’d like to apply for, get in touch with our expert mortgage specialists to kickstart your application process.

Our consultants can talk you through your options and help you create a strong, comprehensive mortgage application that puts you in the best position to be accepted by a lender.

First-time buyer mortgage documentation

Your dedicated Cleerly mortgage specialist will help you collate all the paperwork needed for your application

Government schemes for first-time buyer mortgages

Help to buy mortgages

While the government’s Help to Buy scheme no longer exists, first-time buyers can still now access the First Homes Scheme in England, the First Home Fund in Scotland, and Homebuy in Wales. First time buyers can also put their Lifetime ISA savings towards a deposit on a house up to a value of £450,000. 

Mortgages for shared ownership properties

The Shared Ownership scheme helps first-time buyers to get on the property ladder that bit quicker. Instead of purchasing the whole property, you can purchase a percentage share of the property – usually 25%, 50% or 75%.

Rather than raising a deposit against the entire value of a property, you only need to raise a deposit and qualify for a mortgage against the percentage of the property that you intend to own. You then pay a low monthly rent on the part of the property you don’t own.

There are usually flexible staircasing options, which allow you to buy more of your property over time.

First-time buyer mortgages

Cleerly's pledge

As the go-to UK mortgage broker for first-time buyers, Cleerly will help you to:

  • Secure a mortgage with as little as 5% deposit
  • Borrow up to 5 times your income
  • Benefit from the best deals on the market
Our glowing 4.9 Trustpilot rating showcases Cleery's commitment to being helpful, proactive, straight-talking and transparent.
Speak to a mortgage consultant today on 02394 212 912.

Trusted lenders we work with

Types of first-time buyer mortgages

The interest rate on your mortgage is set for a fixed period, typically either two or five years.  

Once the fixed-rate term concludes, you'll usually move to the lender's standard variable rate (SVR) mortgage, unless you switch to another deal with your current lender or switch to a new deal with a different banklender. 

Also known as the lender’s base interest rate, standard variable rate (SVR) mortgages don't offer discounts or lowered interest rates, and the lender has the discretion to alter the interest rate charged, regardless of underlying interest rates in the UK. 

Tracker (also known as ‘floating’ rates) mortgages fluctuate according to the Bank of England's base rate, usually being set at a specified percentage above this rate. 

Track a bank’s SVR (at a lower level) by a fixed amount. For example, if the SVR is 7% and the discount is 1%, you will be charged an interest rate of 6%. However, while the discount level won’t change, the rate of interest might, which means this type of mortgage is variable. 

Another type of variable rate mortgage, again linked to a lender’s SVR, but with a fixed upper limit, or a ceiling. Your payments won’t go above that limitceiling, no matter how much interest rates rise. If rates fall, you benefit from any reduction that is below the ceiling. 

Accessible to people who have a mortgage and savings account with the same provider. This type of mortgage allows you to use your savings interest to reduce or ‘offset’ interest payments on your mortgage. 

Take us on your journey

We're not just another faceless mortgage broker. Our goal is to help you on your journey to securing your own home, sharing the excitement of buying a house for the very first time.

We’ll take away as much of the stress as possible and provide simple, clear advice that will help you to understand the entire home buying process – we believe that complex shouldn’t be complicated. We partner with reputable lenders, some of whom offer exclusive products. It means that not only do you have the best chance of being accepted by a lender but also access to the best deals on the market.

Buying your first home?

Speak to a Cleerly mortgage consultant today

Whether you’re looking to get the ball rolling on a mortgage application or you’re just after some friendly advice, don’t hesitate to give us a call on 02394 212912 or request a call back.

First-time buyer mortgage FAQs

Cleerly can help you access deposits as low as 5%. This means that you'll pay 5% of the property's value and you'll be loaned the remaining 95%.

A first-time buyer is someone who is buying their first home and has never previously owned a freehold or leasehold residential property.

Securing a mortgage is a difficult process to navigate at the best of times. If you're a first-time buyer it can be daunting knowing where to start or which lenders to approach. As a first-time buyer mortgage broker with over 15 years in the  business, our specialists can talk you through your options and help you to create a strong, self-explanatory mortgage application that puts you in the best position to be accepted by a lender.

The good news is a parent, guardian, spouse or even a friend can be a guarantor on a first-time buyer mortgage. 

Securing a first-time mortgage with a poor credit rating can be tough, but not impossible. Your eligibility will depend on a range of factors including income, property value, and the nature of credit issues. Whether due to missed payments or insufficient credit history, there's hope. As seasoned mortgage brokers, we provide tailored advice to enhance your credit standing and frame your application appealingly to lenders, aiding numerous first-time buyers in securing a mortgage.

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