First Time Buyer's Guide
- The average age of a First Time Buyer is currently 31yrs
- The average purchase price of a First Time Buyer is £227,389
- The average mortgage size for a First Time Buyer is £166,991
- 99.3 % of First Time Buyer choose a fixed rate over a tracker or variable deal
- The average income of the primary borrower is £34,266
Do you qualify as a First Time Buyer?
If you don’t currently own a home, then yes, you could qualify as a First Time Buyer (FTB).
Whether you qualify for a First Time Buyer mortgage is a different scenario and this all depends on your income, expenditure, the size of your deposit and credit file which has been covered above.
Some lenders will classify you as a First Time Buyer even if you have previously owned a house although this is lender specific.
The market for First Time Buyer mortgages is vibrant. Many elements have changed over the years, including criteria for eligibility, however, First Time Buyer mortgages are still available to obtain both quickly and easily.
Our guide covers off all the information you will need from stamp duty, searches, solicitors etc., take a look today.