How do I qualify as a first time home buyer?

You are a first time buyer if you have never owned a home either here or abroad. This status also applies if you are looking to purchase a buy-to-let property and have never owned a home.

What schemes are available for first time buyers?

There are a range of financial schemes in place to help you purchase your first property. These include Help to Buy, Shared Ownership and the Right to Buy schemes. Please consult with your mortgage adviser to find out more.

First Time Buyer Mortgage Advice

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Buying your first home is an exciting time but it's important you know what to expect. Our expert team can guide you through the process and give you all the advice you need.

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Here For Every Step Of Your First Time Buyer Journey

First time buyer rates

Our team provide advice on the latest mortgage rates available

Help for first time buyers

Whether it’s Help to Buy, Shared Ownership or a traditional purchase, we are here to help you

First time buyer deposits

We offer advice on how much you need to buy your first home and explain how an increased deposit will improve both lender options and rates then on offer.

Whole Of Market

We are whole of market and have access to a wide variety of mortgage products for your benefit.

Getting The Right Help, First Time, Every Time

Beechwood has been dedicated to helping first-time buyers in Berkshire and beyond since 2001.

Our friendly team of professionals are here to provide honest, comprehensive advice on mortgages so that you can make confident decisions with ease. At Beechwood, we understand the importance of making the right decision when it comes to buying your first property - this is why our team works tirelessly to ensure a worry-free process for all aspiring homeowners.

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We look forward to helping you to find the perfect mortgage for your needs.

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Learn all you need to secure the right mortgage for your needs, whether that’s to purchase your first home, move home or for investment, Beechwood can help.

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Adrian helped us sort out a really complicated mortgage stiuation involving a Buy to Let and a second purchase. His service was thorough and detailed. We're grateful to him for his services taking away the stress from what was a terribly complex mortgage arrangement and delivering a great result.
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Schemes Available to First Time Buyers

Lifetime ISA

Unlock the door to your future with a Lifetime ISA!

This innovative savings opportunity was designed to help you reach two of life's major financial goals - buying your first home and preparing for retirement.

For every contribution up to an annual set limit, the government rewards savers by offering 25% bonus payment based on their investments.

Right to Buy

This aims to support council tenants into property ownership.

If you have at least three consecutive years’ tenancy, then you may be entitled to buy your home at a significant discount.

Please consult with your mortgage adviser for full details and any other schemes which could help you purchase your first home.

First Homes Scheme

With the First Homes scheme, you can unlock unbeatable deals on your dream home.

This government initiative offers an amazing opportunity to buy a house at up to 50% below average market value.

The scheme allows you to purchase a newly-constructed property or previously owned property that was originally purchased as part of the First Homes scheme.

Shared Ownership

This enables people to purchase a share between 25% and 75% of an existing or new home.

The property is typically purchased from a local housing association, then rent is charged for the percentage of the property not being purchased.

Guarantee Mortgage

The Mortgage Guarantee Scheme helps make buying a home more accessible for you

The government has initiated this scheme to provide lenders with financial guarantees, so they can offer you mortgages up to 95% of the purchase price which must be £600,000 or less - all while ensuring affordability checks are met.

Deposit Unlock

Deposit Unlock is an innovative UK-wide scheme designed to open up homeownership opportunities.

By providing mortgage insurance for lenders, it allows eligible first-time buyers and existing owners to purchase a brand new home with just 5% deposit - making the dream of owning your own property more attainable than ever before.

How Our Mortgage Services Help You

Investing in a new home is one of the most important financial decisions you can make. Our friendly team of experienced mortgage advisors will thoroughly assess your situation to ensure that taking those first steps on the property ladder are smooth sailing.

Let us do all the hard work for you - we'll get everything sorted simply and efficiently.

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Frequently Asked Questions (FAQ's)

It's advisable to save a deposit and seek mortgage approval before making any offers on potential properties. When buying your first home you'll need to pay a deposit. Over the years lenders have generally offered mortgages with as little as 5% deposit.

However, this can and often does change so please do speak to your mortgage adviser find out what percentage is required to secure a mortgage today. Using 5% as an example the mortgage lender would, subject to status, then advance the remaining 95% of the property’s value.

For example, if you wish to buy a home costing £300,000, you will need to save at least £15,000 (5%). The remaining sum will be borrowed, then paid back in monthly repayments with an interest rate in place.

If you're looking to buy your first home with a larger deposit you should be able to access a wider range of mortgage products with better rates and benefits.

Unless you have specifically applied for a Buy to Let mortgage, no. Any homeowner who lives in their property will have been provided with a residential mortgage.

Your lender may allow you to rent out your property but you must seek their consent/approval before you do so. To buy a property as an investment to then rent out, a buy to let mortgage will be required.

This is a different mortgage as there are specific fees, financial implications and risks associated with this.

When you're buying your first home you should save as much as possible, which will reduce the amount you need to borrow from the lender.

It's also important to remember that there is a range of other associated costs alongside the deposit - for example, survey costs, stamp duty and solicitor fees, removals along with mortgage arrangement & valuation fees.

Speak to one of our advisers now for a full summary of your likely costs.

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