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First Homes Mortgages

Our First Home mortgage products are designed for properties purchased through the government's First Home scheme at a discount of between 30% and 50% of their open market value. These products are available for those who meet the scheme’s eligibility criteria, are First Time Buyers with a combined annual income of no more than £80,000 (£90,000 in Greater London) and where the price of the home after the discount is applied is no more than £250,000 (£420,000 in Greater London). A First Home should be the buyer’s only home, with their local authority determining eligibility.

You can apply over the phone to get an Approval in Principle.

The mortgaged property (which may be your home) may be repossessed if you do not keep up repayments on your mortgage

First Homes 2 Year Fixed Rate Mortgages

Initial rate fixed up to and inc. 31/07/24Then changing to the Society's SVR less a discount of 1.25%, up to and inc. 31/07/2027, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
2.51% 4.29%5.54%4.7%75%£0 View
Max loan amount £2,000,000 / It's not possible to apply for this product online.
RATES CORRECT AS AT 25 march 2022

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £172,000.00 payable over 25 years initially on a fixed rate for 2 years at 2.51% and then a 1.25% discount on our current Standard Variable Rate of 5.54% giving a rate of 4.29% for 3 years and then on our current Standard Variable Rate of 5.54% for the remaining 20 years would require 24 monthly payments of £771.93, 36 monthly payments of £922.61 and 240 monthly payments of £1024.60.

The total amount payable would be £297,679.00 made up of the loan amount plus interest of £125,644.00 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.

The overall cost for comparisons is 4.7% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Key details about this product range

  • Please note we’ll lend to 95% of the discounted purchase price.
  • Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender.
  • A product fee is payable on application (where applicable) but is refundable should the mortgage not complete.
  • A mortgage exit fee of £199 will apply.
  • Tapered Early Repayment Charges may apply.
  • Interest calculated daily.
  • These products are not available to interest only applications.
  • The products and services on this site are available to UK residents only.
  • Mortgage applicants must be 18 years or over.
  • Mortgages are subject to eligibility, status and financial standing.

For more detail about specific products, visit the links in the table above.

First Homes 5 Year Fixed Rate Mortgages

Initial rate fixed up to and inc. 31/07/27Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
2.44% 5.54%4.2%75%£799 View
Max loan amount £2,000,000 / It's not possible to apply for this product online.
2.58% 5.54%4.2%75%£0 View
Max loan amount £2,000,000 / It's not possible to apply for this product online.
RATES CORRECT AS AT 25 march 2022

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £180,000.00 payable over 25 years initially on a fixed rate for 5 years at 2.44% and then on our current Standard Variable Rate of 5.54% (variable) for the remaining 20 years would require 60 monthly payments of £801.51 and 240 monthly payments of £1049.19.

The total amount payable would be £300,730.98 made up of the loan amount plus interest of £119,896.98 and application fee £0, product fee £799, valuation fee £0, funds transfer fee £35.

The overall cost for comparison is 4.2% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Key details about this product range

  • Please note we’ll lend to 95% of the discounted purchase price.
  • Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender.
  • A product fee is payable on application (where applicable) but is refundable should the mortgage not complete.
  • A mortgage exit fee of £199 will apply.
  • Tapered Early Repayment Charges may apply.
  • Interest calculated daily.
  • These products are not available to interest only applications.
  • The products and services on this site are available to UK residents only.
  • Mortgage applicants must be 18 years or over.
  • Mortgages are subject to eligibility, status and financial standing.

For more detail about specific products, visit the links in the table above.

Mortgage calculator

Get a quick estimate of what your monthly payments will be for one of our mortgages

Borrowing calculator

Get a quick estimate of how much you can borrow.

  • Extra help and guidance

    If you want help and support with your application call a Mortgage Assistant

    03450 50 50 62(press option 2)

  • Talk to an expert

    When you're ready to apply for a mortgage, call to request to speak to a Mortgage Consultant

    03458 48 00 26 (press option 1)

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