I require a first time buyer mortgage to get on the property ladder

You need the best first time buyer mortgages available, no doubt you will have a lot of questions to ask. First and foremost, what are the best first time buyer mortgages deals for first time buyers?

Should I opt for a fixed rate for 3 or 5 years, a capped rate, a discount or a tracker, which could put my monthly budget at risk for my first house? How do I get my first time buyer mortgage? Should I go to a bank, broker, building society or a specialist lender when I’m buying my first house? How much can I borrow for my first mortgage, and how much will it cost me?

If your entering the world of mortgages for the first time you should always shop around and get a few deals. Speak to your bank about first time buyer mortgages. Don’t just consider what you can afford now; always consider how your finances will fair over the next 3 to 5 years. What if income changes for the worst you will still have to pay this first time buyer mortgage. Fixed rates provide stability. Trackers give you a chance of beating the market. Better to be safe than sorry!

Many first time buyer mortgages borrowers overstretch themselves. That property you always want is just that extra five or ten thousand more. First time buyers have time on their hands and are always optimistic. Most people expect property prices to rise; this may be the case over 25 or 30 years. But always consider the short term be realistic.

When you’re in the property with what you have considered being the best first time buyer mortgage available to you at the time of  your purchase, enjoy the fruits of your hard work. Welcome to the housing ladder!