Mortgage Advice for First Time Buyers, First Time Buyer Mortgages and First Mortgage Advice

Property Buying Guide

Building a Deposit: Reducing the Deposit Requirement

One way of not needing such a big deposit is by sharing it. If you buy a property with a friend or member of family – even a co-investor you have met specifically to buy together, you won't need to raise so much money in the first place.

All the information you could possibly need on the ins and outs of joint ownership can be found in our joint ownership section.

Shared Equity is also another low deposit option as is shared ownership.


Find out more about how to build a deposit - or even get away without needing one:

Savings l Extra work, selling things, cutting down on spending, cutting down on debt l Gifted Deposits l A loan l Investing Abroad l No Deposit Options


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There's alot going on! What do you think?

Interest rates are low but could rise? Is this a good time to buy?

Yes
No

Varialbe rate mortgages go up if bank interest rates do. Which is your preference?

Fixed Rate
Variable rate

Interest only mortgages are cheaper but in the end you don't end up owning the property. Which is better?

Interest Only
Repayment

House prices are waivering. Do you think this is a good time to buy?

Yes
No

Shared equity mortgages allow you to buy a new home with 5% deposit and an equity loan through FirstBuy. What do you think?

Too complicated
Too expensive
Too risky

Rent to buy allows you to peg a property price, save towards a deposit and pay reduced rent. What do you think?

Works best in a rising market
Too complicated
Good option