Supporting our first time buyers

For 150 years, we've been helping people turn their dreams of homeownership into a reality. Our evolving product range is designed to meet the real needs of today’s first time buyers. Offering 95% LTV and up to 5.5x LTI on a minimum £30,000 household income, we can help your clients do more with their budget. Our application process is simple, with dedicated tools, support and contact options whenever you’re facing a challenge.

We don’t see a problem, we see an opportunity to help.

We class a first time buyer as anyone who hasn't had a mortgage in the last three years. For joint applications, at least one applicant must meet this definition. Otherwise, please see our fixed rates for remortgage and home mover clients.

First Time Buyer Mortgages

Key benefits

Only one applicant needs to be a first time buyer (defined as not having a mortgage in the last 3 years)

Loan to Income (LTI) of up to 5x their household income

Self-employed applicants welcome

Available up to 95% LTV - including new build houses

10% capital repayments are allowed each year without incurring an Early Repayment Charge, unless otherwise stated

Standard Valuation Fee included

Key eligibility criteria

Have a minimum 5% deposit

Minimum £30,000 gross household income if their LTI is between 4.5 - 5.0x. For example, the first applicant could earn £17,000 and the second £13,000

Total Debt to income (mortgage and unsecured debt) of up to 5.5x or 5x household income if using more than 90% of max affordability

The range may offer 2, 3 or 5 year product options

Capital and Interest Only

Other mortgages

Income Plus

5.5x LTI available from £30,000 up to £75,000

6x LTI available from £75,000 and above

Up to 95% LTV available - including new build houses

Reach

We might offer your client a Reach mortgage. Reach is a residential product range we’ve designed to support people who face barriers, such as poor credit scores, when buying a home.

Shared Ownership

We offer up to 95% LTV on the borrower's share for new builds and resales

We'll lend on up to 10 properties or 25% of the total Shared Ownership homes in a postcode (whichever is higher)

Clients must be able to staircase up to 100% ownership

Tools for you and your client