Getting a Mortgage first Time Buyer

First mortgage taking out the first time buyer

It is possible with the help of the family that a first buyer receives a mortgage if he:. Besides applying for one of our mortgages, you also need to use some of your own money to finance your purchase. The Yorkshire Banks First Buyer Mortgage is an example of a fixed rate mortgage.

First-time buyer mortgage

At Mansfield Building Society, we pride ourselves on supporting First Time Buyers with a number of mortgage product offerings that will help you get your feet on the real estate managers. It is our pleasure to participate in the Help to Buy Scheme in England and Wales, which is available to qualified candidates up to a 75% limit, provided that the buyer(s) make a 5% margin of value.

There are a number of co-ownership mortgage product options that allow you to acquire part of the real estate and make the rental payment for the remainder. They are not included in the following chart, please see our page on mortgage for co-ownership to find out more. The following is a sample of our mortgage product offering available to first-time buyers in England and Wales.

At Mansfield Building Society we pride ourselves on supporting First Time Buyers with a variety of mortgage products that will help you put your feet on the real estate managers. £80,750 mortgage, due over 35 years first on a floating interest basis, currently 3. 39% for 2 years and then on our prevailing floating interest 5.

a first interest of £60.00. £180,429.34, consisting of the principal of the principal plus interest and charges of 99,679.34. The amount to be paid would be £180,429.34. The starting interest is the interest available during the first life of the mortgage. At the end of the original interest period, the mortgage returns to our variable standard interest rates (SVR).

The SVR is fixed by us and currently stands at 5.59%, as a floating interest it can go up or down. Like all other mortgage providers, we allow you to lend against part of the total value of the real estate. Described as Loan to Value (LTV), this is stated as a percent.

If, for example, you want to buy a £100,000 home and you want to rent £85,000, you need a mortgage that is available at 85% Loan to Value (LTV). LTV available may differ according to the mortgage you have. Under LTV, co-ownership mortgage loans provide two percentage rates - the portion of the land value and the portion of the interest to be acquired.

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