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Helping brokers unlock doors for first time buyers

This product information is for use by FCA authorised intermediaries only and must not be distributed to potential [borrowers/customers].

Helping brokers unlock doors for first time buyers

Our purpose is to make home ownership attainable for more people. That’s why we work with our broker partners to unlock doors for first time buyers.

We want aspiring first time buyers to view joining the property ladder as something that’s achievable, not just a pipe dream. And we want you to be well-equipped to help your clients be first home happy.

We’re first time buyer experts

We’ve been supporting first time buyers for over 30 years. And in 2023 nearly 18,000 first time buyers got onto the property ladder thanks to our help.

In fact, over half of our mortgages in 2023 went to people buying their first home.

In 2022, we also withdrew from new lending on second homes, to focus more on helping first time buyers onto the housing ladder. So, you can trust in our dedication, knowledge, and expertise.

The first time buyer market is more competitive than ever, and with various challenges and barriers for your clients. So to support you in getting your first time buyer clients mortgage ready, we’ve created a dedicated first time buyer broker guide full of helpful tips and insight.

Support every step of the way

We know you’re busy, so we provide a range of contact options, all staffed by experts, to suit your needs. These include dedicated contact telephone numbers for new or existing applications, a live broker webchat service, and a local BDM.

Our market leading mortgage sales and originations software (MSO) makes your mortgage journey easier than ever. With a speedy system encapsulating everything from case tracking to document uploads, under one roof.

Not to mention, our app to offer times are second to none, being one of the fastest in the market. Because we know when it comes to first time buyers, there’s nothing worse than a ‘slow-no’!

Diverse range of products

To support our purpose of making home ownership achievable, we offer a broad range of products, which support first time buyers wanting to take their first steps on the property ladder. These include:

1. Experian Boost

We know how important your clients’ credit scores are when looking for somewhere to call home. That’s why we partnered with Experian Boost, a completely free initiative which allows borrowers to potentially boost their credit scores. Experian takes into account your clients’ day-to-day payments such as:

- Monthly Council Tax bills.

- Digital entertainment payments, i.e., Spotify and Netflix subscriptions.

We were the first UK lender to partner with Experian Boost and take boosted credit scores into account in mortgage applications.

2. High LTV fixed rate products

Our high LTV fixed rate products mean buyers can secure a mortgage using a smaller deposit, including up to 95% LTV on our residential mortgage range. This makes it easier for your clients to get their foot in the door.

3. Reach Mortgages

Our Reach Mortgages range helps first time buyers unlock doors to home ownership. How? By creating options for buyers whose credit scores mean they don’t qualify for one of our standard mortgage products. Putting home ownership within ‘Reach’ of more people, generation after generation.

Read our Reach Mortgages information sheet to find out more.

4. Our shared ownership range

We’re the market leading shared ownership lender. In fact, we’ve won What Mortgage’s ‘Best Shared Ownership Mortgage Lender’ for eight consecutive years! We even offer a special savings account just for shared ownership mortgage holders.

Tools to help you support first time buyers

Read our first time buyer guide to help you, help your first time buyer clients achieve home ownership.

You can also delve into the First Time Buyer episode of our new ‘Lending Matters’ video podcast series, filled with insights around how we navigate the first time buyer market. We believe everyone deserves a place to call home. So, let us help you unlock doors for first time buyers now, and for generations to come.

For more information, contact your local BDM.

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