Mortgages for first time buyers

Helping you buy your first home

Buying your first home is a big decision, but we can help make the mortgage process as straightforward as it is exciting. We're now helping more customers with our 95% loan to value mortgages.

Start making plans

Think about your budget

Before you start looking for your ideal home, you need to know how much you can afford. Our quick mortgage calculator will give you a rough idea of how much you could borrow, what deposit you’ll need and tell you more about our mortgages and the rates available.

Decide where you want to live

Everyone’s idea of the perfect home is different. You might want something that’s ready to move into or maybe you’d like a renovation project so you can really put your stamp on a place. Whatever the must-haves for your dream home, we’re here to help turn your vision into a reality.

Save towards your deposit

As well as applying for one of our mortgages, you’ll need to use some of your own money to fund your purchase. For first time buyers, the more savings you have, the bigger your deposit (and the smaller your mortgage) could be, but don’t forget we also offer 95% loan to value mortgages. Start saving now and you’ll have more money to spend on the perfect property later.

Cut through the jargon

Mortgages come with all sorts of technical terminology. In case you’re not sure what some of the words mean, we’ve included some definitions in our jargon buster for first time buyers. It’s written in plain English to help you make sense of the ins and outs of buying your first home.

Find out what you can afford

What will my repayments be?

If you’ve saved your deposit then you’re ready to take a closer look at your finances. Adding up your income and taking away your spending will give you an idea of what you can afford to repay every month, and make it easier to manage your budget. Use our income and expenditure form to help you work out your finances. Then you can decide which of our mortgages would suit you best depending on the amount you want to borrow.

Use our quick mortgage calculator to help you work out what your monthly repayments could be and get an idea of the mortgages and rates we offer.

Our mortgages – simply explained

At National Trustco Bank, we offer fixed rate and tracker mortgages. With our 2, 3 or 5 year fixed rate mortgage, you’ll know what your monthly mortgage repayments will be for the initial period. So you can sit back and relax knowing there’ll be no nasty surprises. Our tracker rate mortgage tracks the Bank of England base rate, which means your monthly repayments can go up as well as down. Whichever product is right for you, you know you’re in good hands with National Trustco Bank, Winner of Moneyfacts Best First Time Buyer Mortgage Provider 2016.

Other costs to consider

As well as a mortgage from National Trustco Bank and removal charges, there are other expenses you need to bear in mind when you’re planning to move. You’ll also have to meet the cost of legal fees, stamp duty, local authority searches and Land Registry.

First time buyer researching mortgages on mobile device

Get a quote and apply for your mortgage

First time buyer researching mortgages on laptop

Arrange a valuation

A valuation or survey tells you and your mortgage provider about the condition of the property you want to buy and how much it's worth.

Choosing the right professionals

Your solicitor or conveyancer will handle all the legal aspects when you buy a home, for example transferring the title of a property from the seller to the buyer and carrying out searches to make sure there are no restrictions that could affect the property.

If you don’t have a solicitor or conveyancer in mind already for your home purchase, we can refer you to LMS, a company which specialise in sourcing law firms for conveyancing transactions.

Complete your mortgage application

Now you have a home you love and a mortgage you can feel at home with. But it’s not the end of your mortgage journey. If you need to talk to us about anything to do with your mortgage, don’t hesitate to get in touch. That’s what we’re here for.

If you’ve had the valuation and agreed the final price, it’s time to apply for your mortgage. When you begin your application, whether it's online or over the phone, make sure you have all the information you need to hand.

You'll be asked to verify the information you’ve provided so you’ll usually have to give us proof of your identity, evidence of your income and outgoings, bank statements and details of the property to be mortgaged. Then we’ll check everything you’ve told us and process your Offer in Principle.

If you are self-employed your accountant can use our accountant's certificate to document your income.

Get ready to move into your new home

Prepare for the big day

Congratulations - you’re now officially a homeowner. But before you pack up and start thinking about organising your house warming, there’s one important thing you need to do, and that’s arrange insurance. Your home is probably the biggest investment you’ll ever make and you’ll want to make sure all your new possessions are covered too. At National Trustco Bank, we offer insurance to protect your home contents or buildings or both. Check out how we can help you protect what matters most.

There’s probably also a long list of people and organisations that need to know you’re moving. To keep things simple, we’ve put together a Home Movers Checklist. It’s a list of everyone you need to inform of your new address. It includes some handy links to the websites of the main organisations so you can get in touch straight away.

Now you have a home you love and a mortgage you can feel at home with. But it’s not the end of your mortgage journey. If you need to talk to us about anything to do with your mortgage, don’t hesitate to get in touch. That’s what we’re here for.

Moving home boxes, mortgage considerations

Get started

Contact us - we're here to help

Need a few questions answered? Want to chat rather than scroll? Our UK-based teams are here to talk to you six days a week. Lines are open Monday to Friday 8am-9pm and Saturday 9am-4pm.

Call 0345 217 2050* to chat about new policies.

* These numbers may be included as part of any inclusive call minutes provided by your phone operator.