First time buyer
Remember to read our enhanced 90% LTV criteria for first time buyers before submitting an application.
We need to underwrite some cases in more detail. To prevent delays for your clients, please see our key information for DIP refer cases.
Applicants who haven't held a mortgage in the last three years (this includes UK and non-UK mortgages).
All applicants to the mortgage need to be first time buyers to qualify for first time buyer products/discounts.
Applicants who are capital-raising on a mortgage free (unencumbered) property must be classed as remortgage customers, regardless of the length of time they have been unencumbered. "First Time Buyer" should only be used for a purchase transaction.
First time buyers are not eligible for interest only purchase applications.
We're helping your clients get on the property ladder
- Mortgages up to 90% LTV from our homebuyer product range (on 90% LTV products for first time buyers, the maximum loan size is £500,000). Please read our enhanced 90% LTV criteria for first time buyers before applying.
- Further access to low deposit mortgages through our support of affordable housing and government backed schemes
- £500** cashback on all of our £0 and £999 product fee options
- No standard valuation fees
- Help to Buy: ISAs accepted from any lender towards the property purchase price
- 10% annual overpayment allowance on fixed rate products
- No ERCs on tracker products
- Maximum term of 40 years
- Fully portable products, helping your client to move again in the future.
**First time buyer cashback eligibility:
- Only one £500 cashback will be paid per mortgage and is payable to your client within one month of completion of the mortgage.
- This cashback offer only applies to customers whose product was reserved on or after 13 May 2015.
- To qualify as a first time buyer your client mustn’t have held a mortgage in the last three years (this includes UK and non-UK mortgages).
- All applicants to the mortgage need to be first time buyers to qualify for first time buyer products/cashback.