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First time buyer

Buying your first home is one of the most exciting things you’ll do. There’s so much to think about but we can help find the right mortgage for you with our wide range of products designed specifically for first time buyers. To make a start, read our introduction to mortgages and use our Selection Tool to find the right mortgage for you.


Affordability calculator

Find out how much you can borrow with our affordability calculators.

Variable mortgages

The mortgages listed below move on to our Standard Variable Rate, 5.60% (variable), after the initial rate period.  Our SVR is increasing to 5.75% (variable) from 1st July 2022.

There may be a limit on how low your interest rate can fall. This is called an ‘interest rate floor’. The interest rate floor applicable to your loan will be specified in your loan documentation.

Product
name
Initial
rate i
Discount
from SVR i
Overall cost for
comparison i
Max %
LTV i
Product
fee i
Mortgage
repayment
Residential variable for 2 years See example2.69%2.91%5.2% APRC80%£999
£XXX.xx per month
See details

Representative example: A mortgage of £210,000.00 taken out for a period of 18 years on a repayment basis.
Monthly instalments: £1,232.03 per month for 23 months, followed by £1,520.32 per month for 192 months.
Total amount payable: £321,677.13.
Total amount of credit: £210,000.00.
The total amount payable includes valuation fee £340, product fee £999 and closing fee £100.
The overall cost for comparison is 5.2% representative APRC.
This example is based on our Residential variable for two years product.  It is based on our current Standard Variable Rate of 5.60%, with no fees added to the mortgage.

Please ask for a personalised illustration for your own particular requirements.

95% Residential variable for 2 years See example3.69%1.91%5.5% APRC95%£999
£XXX.xx per month
See details

Representative example: A mortgage of £200,000.00 taken out for a period of 30 years on a repayment basis.
Monthly instalments: £920.84 per month for 23 months, followed by £1,141.09 per month for 336 months.
Total amount payable: £405,969.56.
Total amount of credit: £200,000.00.
The total amount payable includes valuation fee £285, product fee £999 and closing fee £100.
The overall cost for comparison is 5.5% representative APRC.
This example is based on our 95% Residential variable for 2 years product. It is based on our current Standard Variable Rate of 5.60%, with fees not added to the mortgage.

Please ask for a personalised illustration for your own particular requirements.

100% Buy For University variable See example4.50%1.10%5.2% APRC100%£699
£XXX.xx per month
See details

Representative example: A mortgage of £180,000.00 taken out for a period of 11 years on an interest only basis.
Monthly instalments: £675 per month for 59 months, followed by £843.56 per month for 72 months.
Total amount payable: £281,615.32.
Total amount of credit: £180,000.00.
The total amount payable includes valuation fee £255, product fee £699 and closing fee £100.
The overall cost for comparison is 5.2% representative APRC.
This example is based on our 100% Buy For University product.  It is based on our current Standard Variable Rate of 5.60%, with fees not added to the mortgage.

Please ask for a personalised illustration for your own particular requirements.

 

80% Buy For University variable See example4.30%1.30%5.3% APRC80%£699
£XXX.xx per month
See details

Representative example: A mortgage of £195,000.00 taken out for a period of 17 years on an interest only basis.
Monthly instalments: £698.75 per month for 59 months, followed by £913.67 per month for 144 months.
Total amount payable: £368,878.73.
Total amount of credit: £195,000.00.
The total amount payable includes valuation fee £285, product fee £699 and closing fee £100.
The overall cost for comparison is 5.3% representative APRC. This example is based on our 80% Buy For University product.  It is based on our current Standard Variable Rate of 5.60%, with fees not added to the mortgage.

Please ask for a personalised illustration for your own particular requirements.

Retirement mortgage (power of attorney) variable lifetime discount See example3.75%1.85%3.9% APRC50%£699
£XXX.xx per month
See details

Representative example: A mortgage of £95,000.00 taken out for a period of 17 years on an interest only basis.
Monthly instalments: £296.88 per month for 203 months.
Total amount payable: £156,320.64.
Total amount of credit: £95,000.00.
The total amount payable includes valuation fee £255, product fee £699 and closing fee £100.
The overall cost for comparison is 3.9% representative APRC.
The APRC is based on a mortgage which runs for 17 years. The 17 year term and the APRC are used for illustration purposes only, as the Retirement Mortgage does not have a set term. The actual APRC will depend on how long the mortgage actually runs for. To compare mortgages from different lenders you will need to obtain illustrations for the same term.

Retirement mortgage (non power of attorney) variable lifetime discount See example4.25%1.35%4.4% APRC50%£699
£XXX.xx per month
See details

Representative example: A mortgage of £110,000.00 taken out for a period of 18 years on an interest only basis.
Monthly instalments: £389.58 per month for 215 months.
Total amount payable: £194,843.70.
Total amount of credit: £110,00.00.
The total amount payable includes valuation fee £285, product fee £699 and closing fee £100.
The overall cost for comparison is 4.4% representative APRC.
The APRC is based on a mortgage which runs for 18 years. The 18 year term and the APRC are used for illustration purposes only, as the Retirement Mortgage does not have a set term. The actual APRC will depend on how long the mortgage actually runs for. To compare mortgages from different lenders you will need to obtain illustrations for the same term.

This example relates to the Retirement mortgage (non power of attorney) variable lifetime discount product. It is based on our current Standard Variable Rate of 5.60%, with fees not added to the mortgage.

Please ask for a personalised illustration for your own specific requirements.

80% Rent A Room variable for 2 years See example3.69%1.91%5.6% APRC80%£999
£XXX.xx per month
See details

Representative example: A mortgage of £135,000.00 taken out for a period of 34 years on a repayment basis.
Monthly instalments: £581.91 per month for 23 months, followed by £736.78 per month for 384 months.
Total amount payable: £297,661.45.
Total amount of credit: £135,000.00.
The total amount payable includes valuation fee £255, product fee £999 and closing fee £100.
The overall cost for comparison is 5.6% representative APRC. This example is based on our 80% Rent A Room variable for 2 years product.  It is based on our current Standard Variable Rate of 5.60%, with fees not added to the mortgage.

Please ask for a personalised illustration for your own particular requirements.

Useful stuff

Mortgage Conditions

Tariff of Mortgage Fees