First-time buyer mortgage specialists
For over 15 years, Cleerly has been assisting first-time buyers with their mortgage applications.
Starting your mortgage journey with Cleerly is easy. We just require a little bit of information about your employment and financial background and then you can receive mortgage quotes straight to your inbox.
Or why not take a look at our mortgage calculator? It’s an easy-to-use tool that shows you mortgages you may be approved for based on a successful application. Just enter your property value, how much you wish to borrow and how much you wish to pay back each month. Once you’ve found a mortgage you’d like to apply for, get in touch with our expert mortgage specialists to kickstart your application process.
Our consultants can talk you through your options and help you create a strong, comprehensive mortgage application that puts you in the best position to be accepted by a lender.
First-time buyer mortgage documentation
Your dedicated Cleerly mortgage specialist will help you collate all the paperwork needed for your application
ID and proof of right to live and work in the UK
Bank statements
Proof of deposit
Proof of income
Government schemes for first-time buyer mortgages
Help to buy mortgages
While the government’s Help to Buy scheme no longer exists, first-time buyers can still now access the First Homes Scheme in England, the First Home Fund in Scotland, and Homebuy in Wales. First time buyers can also put their Lifetime ISA savings towards a deposit on a house up to a value of £450,000.
Mortgages for shared ownership properties
The Shared Ownership scheme helps first-time buyers to get on the property ladder that bit quicker. Instead of purchasing the whole property, you can purchase a percentage share of the property – usually 25%, 50% or 75%.
Rather than raising a deposit against the entire value of a property, you only need to raise a deposit and qualify for a mortgage against the percentage of the property that you intend to own. You then pay a low monthly rent on the part of the property you don’t own.
There are usually flexible staircasing options, which allow you to buy more of your property over time.
First-time buyer mortgages
Cleerly's pledge
As the go-to UK mortgage broker for first-time buyers, Cleerly will help you to:
- Secure a mortgage with as little as 5% deposit
- Borrow up to 5 times your income
- Benefit from the best deals on the market
Our glowing 4.9 Trustpilot rating showcases Cleery's commitment to being helpful, proactive, straight-talking and transparent.
Speak to a mortgage consultant today on 02394 212 912.
Trusted lenders we work with
Types of first-time buyer mortgages
The interest rate on your mortgage is set for a fixed period, typically either two or five years.
Once the fixed-rate term concludes, you'll usually move to the lender's standard variable rate (SVR) mortgage, unless you switch to another deal with your current lender or switch to a new deal with a different banklender.
Also known as the lender’s base interest rate, standard variable rate (SVR) mortgages don't offer discounts or lowered interest rates, and the lender has the discretion to alter the interest rate charged, regardless of underlying interest rates in the UK.
Tracker (also known as ‘floating’ rates) mortgages fluctuate according to the Bank of England's base rate, usually being set at a specified percentage above this rate.
Track a bank’s SVR (at a lower level) by a fixed amount. For example, if the SVR is 7% and the discount is 1%, you will be charged an interest rate of 6%. However, while the discount level won’t change, the rate of interest might, which means this type of mortgage is variable.
Another type of variable rate mortgage, again linked to a lender’s SVR, but with a fixed upper limit, or a ceiling. Your payments won’t go above that limitceiling, no matter how much interest rates rise. If rates fall, you benefit from any reduction that is below the ceiling.
Accessible to people who have a mortgage and savings account with the same provider. This type of mortgage allows you to use your savings interest to reduce or ‘offset’ interest payments on your mortgage.
Specialist professions
We're proud to work with clients in specialist roles who don't fit the typical high street lender mould
The pathway to your new home
Cleerly can help find the right mortgage for you
Speak to the UK's go-to first-time buyer mortgage broker today
First-time buyer mortgage FAQs
Cleerly can help you access deposits as low as 5%. This means that you'll pay 5% of the property's value and you'll be loaned the remaining 95%.
A first-time buyer is someone who is buying their first home and has never previously owned a freehold or leasehold residential property.
Securing a mortgage is a difficult process to navigate at the best of times. If you're a first-time buyer it can be daunting knowing where to start or which lenders to approach. As a first-time buyer mortgage broker with over 15 years in the business, our specialists can talk you through your options and help you to create a strong, self-explanatory mortgage application that puts you in the best position to be accepted by a lender.
The good news is a parent, guardian, spouse or even a friend can be a guarantor on a first-time buyer mortgage.
Securing a first-time mortgage with a poor credit rating can be tough, but not impossible. Your eligibility will depend on a range of factors including income, property value, and the nature of credit issues. Whether due to missed payments or insufficient credit history, there's hope. As seasoned mortgage brokers, we provide tailored advice to enhance your credit standing and frame your application appealingly to lenders, aiding numerous first-time buyers in securing a mortgage.