--- title: First Time Buyer Mortgage Advice, Mortgages For First Time Buyers description: Our helpful mortgage advisers will search all the mortgages on the market to find the ones that suit your needs most closely. Book an appointment today. image: https://www.callunafinancial.co.uk/hubfs/montage/happy-young-couple__montage.png --- [Skip to main content](https://www.callunafinancial.co.uk/first-time-buyers#main-content) [![Calluna Financial](https://www.callunafinancial.co.uk/hubfs/calluna-financial-logo-mono-white.svg)](https://www.callunafinancial.co.uk?hsLang=en) - [Home](https://www.callunafinancial.co.uk) - [Show submenu for Mortgages Mortgages](https://www.callunafinancial.co.uk/mortgages) - [First Time Buyers](https://www.callunafinancial.co.uk/first-time-buyers) - [Remortgage](https://www.callunafinancial.co.uk/remortgage) - [Moving House](https://www.callunafinancial.co.uk/moving-house) - [Buy-To-Let](https://www.callunafinancial.co.uk/buy-to-let) - Show submenu for Our Advisers Our Advisers - [Aberdeenshire](https://www.callunafinancial.co.uk/aberdeenshire) - [Clacks, Stirling & Falkirk](https://www.callunafinancial.co.uk/stephanie-english) - [Edinburgh](https://www.callunafinancial.co.uk/edinburgh) - [Glasgow](https://www.callunafinancial.co.uk/allan-coll-glasgow) - [Inverness](https://www.callunafinancial.co.uk/inverness) - [Protection](https://www.callunafinancial.co.uk/protection) - [Show submenu for Mortgage Tools Mortgage Tools](https://www.callunafinancial.co.uk/mortgage-tools) - [Mortgage Calculator](https://www.callunafinancial.co.uk/mortgage-calculator) - [Repayment Calculator](https://www.callunafinancial.co.uk/calculator-repayments) - [LBTT Calculator](https://www.callunafinancial.co.uk/calculator-lbtt) - [Mortgage App](https://www.callunafinancial.co.uk/mortgage-app) - [Jargon Buster](https://www.callunafinancial.co.uk/jargon-buster) - [Mortgage FAQs](https://www.callunafinancial.co.uk/mortgage-faqs) - [Show submenu for About Us About Us](https://www.callunafinancial.co.uk/about-us) - [Self-Employed Agents](https://www.callunafinancial.co.uk/self-employed-agents) - [Refer A Friend](https://www.callunafinancial.co.uk/refer-a-friend) - [Blog](https://www.callunafinancial.co.uk/blog) - [Contact Us](https://www.callunafinancial.co.uk/contact-us) Open main navigation Close main navigation - [Home](https://www.callunafinancial.co.uk) - Show submenu for Mortgages Mortgages - Mortgages - [Mortgages](https://www.callunafinancial.co.uk/mortgages) - [First Time Buyers](https://www.callunafinancial.co.uk/first-time-buyers) - [Remortgage](https://www.callunafinancial.co.uk/remortgage) - [Moving House](https://www.callunafinancial.co.uk/moving-house) - [Buy-To-Let](https://www.callunafinancial.co.uk/buy-to-let) - Show submenu for Our Advisers Our Advisers - Our Advisers - [Aberdeenshire](https://www.callunafinancial.co.uk/aberdeenshire) - [Clacks, Stirling & Falkirk](https://www.callunafinancial.co.uk/stephanie-english) - [Edinburgh](https://www.callunafinancial.co.uk/edinburgh) - [Glasgow](https://www.callunafinancial.co.uk/allan-coll-glasgow) - [Inverness](https://www.callunafinancial.co.uk/inverness) - [Protection](https://www.callunafinancial.co.uk/protection) - Show submenu for Mortgage Tools Mortgage Tools - Mortgage Tools - [Mortgage Tools](https://www.callunafinancial.co.uk/mortgage-tools) - [Mortgage Calculator](https://www.callunafinancial.co.uk/mortgage-calculator) - [Repayment Calculator](https://www.callunafinancial.co.uk/calculator-repayments) - [LBTT Calculator](https://www.callunafinancial.co.uk/calculator-lbtt) - [Mortgage App](https://www.callunafinancial.co.uk/mortgage-app) - [Jargon Buster](https://www.callunafinancial.co.uk/jargon-buster) - [Mortgage FAQs](https://www.callunafinancial.co.uk/mortgage-faqs) - Show submenu for About Us About Us - About Us - [About Us](https://www.callunafinancial.co.uk/about-us) - [Self-Employed Agents](https://www.callunafinancial.co.uk/self-employed-agents) - [Refer A Friend](https://www.callunafinancial.co.uk/refer-a-friend) - [Blog](https://www.callunafinancial.co.uk/blog) - [Contact Us](https://www.callunafinancial.co.uk/contact-us) # First Time Buyer Mortgages ![logo\_\_nhs-scotland-1](https://www.callunafinancial.co.uk/hubfs/logo__nhs-scotland-1.svg) ### Exclusive Referral Partner of NHS Trust Workers As a first time buyer, you’re likely to have a lot of questions. After all, buying a property is a huge decision and you want to make sure you find a home you love, at a price that you will be able to afford for the foreseeable future. It’s best to start looking at the options as early as possible so that you know how much you can offer. Start by using our mortgage calculators to figure out roughly how much you can afford, then speak to a mortgage adviser who will help you explore the deals that are available and explain the various options to you. ![A montage showing a happy young couple and a yellow house door](https://www.callunafinancial.co.uk/hubfs/montage/happy-young-couple__montage.png "A montage showing a happy young couple and a yellow house door") ## Your Options ### Fixed Rates - A fixed rate does what it says on the tin- the rate and your payment are fixed for a certain number of years. - You will know exactly what is coming out of your account each month allowing you to budget easily. - It does not matter what happens in the wider market and world - when you are on a fixed rate it will not change your payments. - Once your fixed rate ends you can switch to a new fixed or variable rate with the same lender or a different lender. - Our mortgage advisers will explain the options in detail and help you decide which is right for you. ### Variable Rates - Variable rates are linked to benchmarks like the Bank of England Base Rate and will change every few months. - Your payments will therefore rise and fall every few months depending on what your rate is linked to and what is happening in the wider market. - Some lenders will have ‘Capped and Collared’ Rates giving an upper and lower limit that your rate will remain within. - Depending on the lender you select, they may allow you to switch to one of their fixed rate mortgages with no further credit checks and without penalty. - Speak to a mortgage adviser and find out what might be possible for your individual circumstances. ![Young woman wearing glasses uses a smartphone while sitting at a desk](https://www.callunafinancial.co.uk/hs-fs/hubfs/content/woman-using-smartphone__content.jpg?width=380&height=420&name=woman-using-smartphone__content.jpg) ## Repayment Mortgage - A repayment mortgage works like any other type of loan that you may be familiar with. - You borrow the amount you need to buy your house (minus a deposit) and you pay that all off over an agreed term, such as 25 years. - You may choose a fixed rate mortgage, so that the interest rate is stable for typically 2-5 years, giving you predictable monthly repayments. There will be fees and conditions in place and if the interest rate falls you could be paying a higher rate. - Alternatively, you can opt for a variable rate mortgage which gives you more flexibility but will be higher than a new fixed rate mortgage. ## Interest Only Mortgages - With an interest only mortgage you only pay the interest on your loan and the original amount your borrowed stays the same. It can be a good option when you are starting out and you want to keep your monthly repayments as low as possible, however you must have a suitable repayment vehicle in place. - Due to the higher risk to the lender, these are typically not available for First Time Buyers. ![A row of terraced houses](https://www.callunafinancial.co.uk/hs-fs/hubfs/content/row-of-houses__content.jpg?width=380&height=420&name=row-of-houses__content.jpg) ### Because we play by the book we want to tell you that... **Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.** ## What To Consider ### Cashback Deals Look out for cashback offers which might make a more expensive rate work out to be more affordable than it looks. ![A montage of images showing a couple doing calculations and a small wooden house with keys beside it](https://www.callunafinancial.co.uk/hs-fs/hubfs/montage/couple-working-out-calculations__montage.png?width=445&height=280&name=couple-working-out-calculations__montage.png) ![A montage showing a young couple holding up new house keys and keys hanging in a door lock](https://www.callunafinancial.co.uk/hs-fs/hubfs/montage/couple-new-house-keys__montage.png?width=445&height=280&name=couple-new-house-keys__montage.png) ### Overpayment Options If you want the flexibility to make occasional or regular overpayments when you are able, check that your preferred mortgage allows you to overpay and what the conditions are. ### Repayment Holidays Do you want the security of knowing that you can pause your mortgage payments for a few months if something unexpected happens? Make sure you choose a mortgage with payment holiday options. ![A montage showing a sofa with brightly coloured cushions on it and a hand holding some house keys](https://www.callunafinancial.co.uk/hs-fs/hubfs/montage/cushions-on-sofa__montage.png?width=445&height=280&name=cushions-on-sofa__montage.png) ![A montage showing a large white kitchen and a family sitting on the floor packing boxes](https://www.callunafinancial.co.uk/hs-fs/hubfs/montage/kitchen-moving-house__montage.png?width=445&height=280&name=kitchen-moving-house__montage.png) ### Offset Mortgage Some mortgages work in tandem with your savings to reduce your monthly payments or pay your mortgage off sooner. Tell your mortgage adviser if you want to look at offset mortgages. ### Future Plans Before making a final decision think ahead and take into account any major life changes such as starting a family or retiring, which could affect your ability to manage your repayments. ![A montage showing a woman reading a document and someones hands moving some papers on a desk](https://www.callunafinancial.co.uk/hs-fs/hubfs/montage/woman-reads-contract__montage.png?width=445&height=280&name=woman-reads-contract__montage.png) ![Man signing a document while a woman watches on](https://www.callunafinancial.co.uk/hs-fs/hubfs/content/man-signing-documents__content.jpg?width=380&height=420&name=man-signing-documents__content.jpg) ## What You Need To Know - What are the early repayment charges if you want to pay off all or some of the mortgage before the end of the fixed term? - What are the set up fees? - Are there any additional terms and conditions? - Apply well in advance of your preferred moving date to secure the best rates as many are only available for a limited time - If the interest rate drops during the application process you won’t necessarily miss out, you can change to the lower one - Don’t take out any new finance while going through the application process, this can result in your mortgage being declined - You must take out buildings insurance as part of any property purchase, be sure to factor this into your monthly budget ## Testimonial Professional, knowledgeable and efficient service from the start of the process. Vicky Allan ## What Do I Need? 1. 4 Months Bank Statements 2. 4 Months Payslips 3. Last 2 Years SA302s & Tax Year Overviews / Company Accounts 4. P60 5. Photographic ID 6. Proof of Address ## Work out what your monthly payments could be. [Mortgage repayment calculator](https://www.callunafinancial.co.uk/calculator-repayments?hsLang=en) ## Mortgage questions? Check out our FAQs first. [Mortgage FAQ](https://www.callunafinancial.co.uk/mortgage-faqs?hsLang=en) ## Why Talk To An Adviser? A mortgage adviser will take time to understand your circumstances and financial situation, as well as your future plans, and will search through all the mortgages available on the market to find the ones that suit your needs most closely. We’d recommend starting the mortgage process before you start house-hunting as you need to be confident in how much you can borrow and how much this will cost you each month. Speak to us today and arrange an appointment to make a start or just find out more about how it all works. ![Montage showing John O'Malley and an office](https://www.callunafinancial.co.uk/hubfs/montage/john-omalley__montage.png "Montage showing John O'Malley and an office") ![Image blocks lady at desk and colourful doors](https://www.callunafinancial.co.uk/hs-fs/hubfs/img__blocks-arch-subtle-yellow-contact.png?width=830&height=958&name=img__blocks-arch-subtle-yellow-contact.png "Image blocks lady at desk and colourful doors") ## Speak To Our Mortgage Experts **We are always happy to chat. Please give us a call or drop us an email - we’d love to help.** ### **Proudly Accredited with Own New** Calluna Financial is now an approved broker for the Own New scheme, a powerful initiative designed to make buying a new build home more accessible through innovative shared equity solutions. This accreditation allows us to support housebuilders in accelerating sales and help buyers step into homeownership with reduced upfront costs and competitive mortgage rates. Whether you're a developer or a first-time buyer, we’re here to guide you through every step. - ![Own New Approved Broker](https://www.callunafinancial.co.uk/hs-fs/hubfs/Approved-Broker-Stamp_LinkedIn.png?width=600&height=600&name=Approved-Broker-Stamp_LinkedIn.png) Hover message - ![LIBF Certified Mortgage Adviser](https://www.callunafinancial.co.uk/hs-fs/hubfs/certified-mortgage-adviser.png?width=600&height=600&name=certified-mortgage-adviser.png) Hover message ![White mono version of the Calluna Financial logo](https://www.callunafinancial.co.uk/hubfs/calluna-financial-logo-alt-mono-white.svg "White mono version of the Calluna Financial logo") Calluna Financial is directly authorised and regulated by the Financial Conduct Authority. 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