Best 5 Year First time Buyer Mortgages
<p>We found <strong>263 PRODUCTS </strong>in total, of which <strong>17 have links to providers</strong></p>
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The friendly mortgage advisers at Mortgage Advice Bureau can help get you on the property ladder. We can help you save for a deposit, get an Agreement in Principle and advise on the most affordable mortgage that fits your needs. Your home may be repossessed if you do not keep up repayments on your mortgage.
Mortgage Advice Bureau offers fee free mortgage advice for Moneyfacts visitors that call on 0808 149 9177 or email moneyfacts@mab.org.uk. If you contact Mortgage Advice Bureau outside of these channels you may incur a fee of up to 1%.
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DisclaimerCredit will be secured by a mortgage on your property. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Written quotations are available from individual lenders. Loans are subject to status and valuation and are not available to persons under the age of 18. All rates are subject to change without notice. Please check all rates and terms with your lender or financial adviser before undertaking any borrowing.
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First time buyer five year fixed rate mortgages are those that are specifically aimed at first-time buyers and are fixed for five years. They’re typically available at 95% LTV, meaning that buyers need only provide a 5% deposit to get their foot on the ladder. Not only that, but these mortgages are ideal for new buyers who are keen to manage their finances over a longer period by knowing exactly how much their mortgage will cost them each month for half a decade. Five-year mortgages often come with a higher rate than shorter-term deals – particularly at higher LTVs – however they have the advantage of fixing the rate (and therefore repayments) for longer, so for many, the trade-off is worth it.
Our first time buyer five year fixed rate mortgage comparison chart is a simple and easy way of comparing all the five year fixed rate mortgages for first-time buyers that are currently available on the market. If a mortgage can be applied for directly through our website, it is shown at the top of the chart, and the mortgages below are arranged to show the best rates first. The results can be easily refined by changing the filters above the comparison table – searchers can change the amount they want to borrow, the property value, how they want to repay and the overall term, as well as the region they’re looking to buy in and any specialist refinements (such as if it is a self-build property).
When choosing the right five year fixed rate mortgage as a first time buyer it is important to decide if this term is the right option, keeping in mind that better rates could be found by fixing for a shorter period. If a five year term is the right choice then it is important to look at all areas of the mortgage deal including the rate, any initial charges and whether flexible features (such as payment holidays) or incentives are included in the package to decide if it is the right choice for your circumstances.
Mortgage brokers remove a lot of the paperwork and hassle of getting a mortgage, as well as helping you access exclusive products and rates that aren’t available to the public. Mortgage brokers are regulated by the Financial Conduct Authority (FCA) and are required to pass specific qualifications before they can give you advice.
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Mortgage Advice Bureau offers fee free mortgage advice for MoneyfactsCompare visitors that call on 0808 149 9177. If you contact Mortgage Advice Bureau outside of these channels you may incur a fee of up to 1%. Lines are open Monday to Friday 8am to 8pm and Saturday 9am to 1pm excluding bank holidays. Calls may be recorded.
Your home may be repossessed if you do not keep up repayments on your mortgage.