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First Time Buyer Mortgages
Taking the exciting step of buying your first home? We’re here to help you every step of the way. Explore our mortgage options.
Getting your foot on the property ladder can be hard.
At Afin Bank, we’ve made our first-time buyer mortgage process easy, no matter what your background.
There’s so much to think about when buying your first home including knowing how much you can borrow, what type of mortgage is right for you and how much you will need for a deposit. Whether you’re looking for the security of a fixed rate mortgage or a tracker mortgage, we’ll help you through the process:
Why choose us?
Pay a Little Extra, Pay Off Sooner
You have the option to make overpayments (subject to your mortgage terms and conditions), helping you reduce your loan faster.
Flexible Mortgage Term
Choose a term that works for you, up to 40 years*, so your monthly payments fit your budget and lifestyle.
Higher Loan Amounts for Professionals
We offer enhanced loan-to-income calculations, typically 4.5 times your income, but up to 5.5 times for professionals and 6.5 times for young professionals.
Support from Loved Ones
We accept gifted deposits from family members, whether they’re in the UK or abroad, to help you get on the property ladder.
*Subject to terms and conditions
How do we support
first -time buyers?
A personal service
Throughout your application journey, who’ll make sure you have access to the best advice and support every step of the way.” to “who’ll make sure you have access to the best support every step of the way.
Applying a common-sense approach
Your application will be assessed by a human, not a computer. Our team of underwriters will work closely with your mortgage adviser and discuss your personal circumstances. This personalised approach makes us more understanding of your circumstances and allows us to make decisions on your mortgage quicker.
Understanding
mortgages as
a first -time buyer
Depending on your needs as a first-time buyer, you might want to weigh up the choice of fixed rate mortgages and tracker mortgages:
Fixed rate mortgages
Your interest rate is fixed for the initial period of the mortgage deal. This means your payments won’t go up or down during this time. This gives you certainty to support monthly budgeting in the fixed period.
Tracker mortgages
Your interest rate is a variable rate that tracks or follows the Bank of England base rate. This means your payments could increase or decrease, however there are no early repayment charges should you wish to change your mortgage or make overpayments.
Your mortgage is secured against your home, which means your property may be repossessed if you fail to keep up
with your mortgage payments.
Mortgage calculator
Curious about how much you might be able to borrow? By sharing a few details about your income and expenses, we can:
Give you a handy estimate of how much you could borrow.
Show you the home loan options we have available
Help you get a feel for what your monthly repayments might look like.
Let’s make it easier to plan your next step!
What are the steps to
buying your first house ?
Buying your first home is an exciting milestone! It’s more than just securing a mortgage — it’s about taking the right steps to make your dream a reality. Here’s how you can confidently get on the property ladder:
Arrange a chat with a mortgage advisor
To apply for a mortgage with us, simply use our
appointment booker to book a chat with one of our mortgage advisors.
We’re just a call away
Or, if you’d prefer, give us a call and one of our experienced mortgage advisers will be delighted to assist you.
