Fixed Rate Mortgages For First Time Buyers

Here you can discover the quickly compare all the fixed rate deals presently available for first time home buyers. View all the fixed rate deals from all the lenders currently available. We search all display all the mortgage deals so that you dont miss out. Use the search tools to compare lenders against each other to find the cheapest rates.

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Mortgage Expert



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Flexx For Term £999 Fee

Initial Rate
2.19%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£511.13

APR
2.3%

compare

Lifetime Flexible Discount £800 Fee

Initial Rate
2.24%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£513.18

APR
2.3%

compare

Flexx For Term £499 Fee

Initial Rate
2.49%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£526.53

APR
2.6%

compare

Term Variable No Fee With Guarantees

Initial Rate
2.95%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£536.74

APR
3%

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Term Variable No Fee HLC

Initial Rate
3.5%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£585.73

APR
3.7%

compare

Direct Flexible Term Variable £199 Fee Further Advance

Initial Rate
3.74%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£586.22

APR
4.1%

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Direct Professional Term Variable £199 Fee Further Advance

Initial Rate
3.74%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£586.22

APR
4.2%

compare

Flexi Term Variable £995 Fee

Initial Rate
3.9%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£616.48

APR
4%

compare

Flexi Term Variable £199 Fee Existing Borrower

Initial Rate
3.9%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£612.32

APR
4%

compare

Direct Term Variable No Fee Existing Borrower

Initial Rate
4.24%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£616.92

APR
4.3%

compare

Direct Term Variable No Fee

Initial Rate
4.24%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£616.92

APR
4.4%

compare

Direct Term Variable No Fee Further Advance

Initial Rate
4.24%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£616.92

APR
4.4%

compare

Direct Term Variable No Fee Further Advance 1st Start

Initial Rate
4.24%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£616.92

APR
4.4%

compare

Term Variable £599 Fee

Initial Rate
4.74%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£649.80

APR
5%

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Direct Term Variable No Fee Further Advance

Initial Rate
4.74%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£649.69

APR
4.8%

compare

Standard Term Variable £495 Fee

Initial Rate
4.75%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£669.86

APR
5%

compare

Term Variable No Fee Purchase

Initial Rate
5.04%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£674.57

APR
5.3%

compare

Brightstar Term Variable No Fee

Initial Rate
5.7%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£715.73

APR
5.9%

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Term Variable No Fee

Initial Rate
5.7%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£715.73

APR
5.9%

compare

Standard Term Variable No Fee

Initial Rate
5.99%

Mortgage Type
Variable

Duration
Term

Monthly Payment
£753.12

APR
6.2%

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Recent mortgage Q&A

An explanation of fixed rate mortgages for first time buyers

Fixed Rate Mortgages

Buying your first property can be a fairly daunting experience as there are many different types of mortgage available. There are a number of products that are suitable for first time buyers, with fixed rate mortgages being one of these. As with all mortgages, you will find that you have better interest rates available to you the bigger your deposit is.

What is a fixed rate mortgage?

A fixed rate mortgage is one that provides you with a fixed interest rate for a specific period of time. These time periods can last for between two and five years, during which the interest rate on your mortgage will remain the same no matter what the overall interest rate does during that time.

View 2 year fixed rate mortgages
View 3 year fixed rate mortgages
View 5 year fixed rate mortgages
View 10 year fixed rate mortgages

Why choose a fixed rate mortgage?

In the current economic climate with record low interest rates, and with the probability of them rising over the next couple of years, a fixed rate mortgage can provide you with assured low payments that will not be affected by any rises in interest rates until the end of your fixed rate period. Currently interest rates cannot go any lower and so this is the perfect time to make the most of fixed term deals. Even if you are looking to buy in a couple of years when the interest rates have risen slightly, it would still be a good time to look at fixed rate deals as they will still protect you from any subsequent interest rate rises.

Other things you need to know about fixed rate mortgages

mortgages

When you start looking at fixed rate mortgages you will find that there are different lengths of fixed rate mortgage available. While in some cases it may be the most beneficial option to go for a five year tie-in period, you will need to consider if you are going to be in a stable situation for the next five years. If you move and are not able to take your mortgage with you before the tie-in period is up you will find that there are significant redemption charges and should you find yourself in a position to pay off the whole mortgage there will be an early repayment fee of up to 5% of the total loan. However most people will not be in a situation to do this and the security of knowing that your mortgage payments will not change will usually outweigh these early redemption penalties.

Whether interest rates go up or not, it is always a good idea to get some independent financial advice if you are a first time buyer so that you don’t have any surprises when it comes to making your mortgage application.

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