Close

Mortgages For First Time Buyers

Are you thinking about taking your first step on the property ladder? With our range of mortgages especially designed for first time buyers, Aldermore can help you buy the home you’ve fallen in love with.
Need to speak to us?

Need to speak to us?

Aldermore offers a wide range of mortgages for first time buyers with up to 100%* loan to value mortgages, which means you don’t need a deposit and a personal service that treats each customer as an individual.

We provide mortgages to creditworthy borrowers, some of whom have been turned away by high street banks. Unlike other lenders we don't just rely on automated credit scoring systems - we have a team of experienced mortgage underwriters who will assess your application and consider your personal circumstances.

Finding your first home can be an exciting time but it can be daunting to know where to start with getting a mortgage.

If you’re struggling to raise a deposit or have been turned away by high street lenders, our teams of experienced mortgage advisers are on hand to find a solution for you.

We assess all applications on an individual basis, taking a common sense approach so that we can be sure we provide mortgages to creditworthy borrowers.

Am I a first time buyer?

We define a first time buyer (FTB) as an applicant who has not previously owned a property, with or without a mortgage on that property.

When you apply for your first mortgage with Aldermore you will be assigned a professionally qualified personal mortgage adviser who will guide you through each step of the mortgage process as shown below:

  • Initial Decision in Principle - our advisers will speak to you to fully understand your position and make a recommendation to you based upon this conversation. We will then apply for a Decision in Principle - which is a basic check that you meet our lending criteria.
  • Application - when you have found a house, and have received a mortgage illustration, our mortgage advisers will take you through the full application. We will keep you informed of the next steps of the application process and at this stage we will gather supporting documentation from you - such as proof of income (payslips or accounts etc.)
  • Referral to a conveyancing service - when purchasing a property, a conveyancer or solicitor will act on your behalf, and will provide information to us as your lender. We can introduce you to a suitable local representative if required.
  • Referral for a protection review - when taking out a mortgage, it is advisable that you ensure that, come rain or shine, your home and family are protected. Our business partners will provide a full review of your needs and existing cover to help you prioritise any protection needs. This will also include building and contents insurance.
  • Instructing the valuation - when your application has been assessed with our underwriters and all of your supporting information has been accepted, we will ask a surveyor to visit the property to ensure it is mortgage-worthy.  As standard, a valuation for mortgage purposes will be carried out, but you are welcome to arrange an additional more detailed survey should you feel this is necessary.
  • Mortgage offer - at this stage, a binding mortgage offer will be provided to you. This is the stage where your application has been fully accepted. Your conveyancer or solicitor will start to discuss exchanging contracts with the sellers and looking at a date you can complete. At this stage, it is advisable for you to take out a buildings insurance policy.
  • Completion - this is the date you get the keys to your new home! Any deposit you are paying, plus the mortgage funds will be transferred to the seller's solicitor. The keys will be handed over and you can move in!

If you're ready to make that first step onto the property ladder give our team of mortgage advisers a call today on 0333 321 1001.

We also participate in a number of different schemes to help first time buyers get on the property ladder. If you're struggling to raise a deposit, then take a look at our 100% Family Guarantee Mortgage.

If you only have a small deposit then take a look at our range of mortgages for you:

* We offer 100% mortgages if you have a close relative who is willing to accept a collateral charge on their property


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Our featured mortgages

Personal Mortgage

Low Deposit Mortgages

  • 5/5 (3 reviews)

For first homes to forever homes

Our Low Deposit Mortgage Range is for you if you’re a first time buyer or moving home with at least a 5% deposit.

From 4.68%

Personal Mortgage

Fixed Rate Mortgages

  • 4.3/5 (15 reviews)

Rest easy with a stable interest rate. Fixed rate mortgages take fluctuating interest rates off your hands for smoother financial planning. 

From 2.38%

Personal Mortgage

Term Variable Rate Mortgages

  • 5/5 (2 reviews)

Simple, straightforward lending. Variable interest rates follow changes to market rates. 

From 2.88%

Latest Rating and Reviews

5 Year Fixed Rate Low Deposit Mortgage (95% LTV)

Outstanding !!!!

Well Done Aldermore !!! From start to finish aldermore were brilliant. Easy application. Dedicated mortgage advisor who deals with you from start to completion. No hassle great service polite staff. I wqs worries reading other reviews but dont worry as long as you are not hiding anything be honest you will have no problems.

15th August 2017
3 Year Fixed Rate Low Deposit Mortgage (95% LTV)

First class service from start to finish

From the initial enquiry to the final completion of my mortgage Aldermore provided me with an excellent service. The understood my requirements and gave me great support and made everything clear to me. They kept me up to date on the process, and were a pleasure to deal with. I would definitely recommend to others, and will use them again in future.

8th August 2017 MHS1234
3 Year Fixed Rate Low Deposit Mortgage (95% LTV)

Helpful, simple and would 100% reccomend

I approached Aldermore after receiving a reccomendation that they are able to help people with adverse credit history. I had a couple of defaults from several years ago and just generally poor credit. I called and after checking eligibility with one of their mortgage advisors, Richard, proceeded to apply for the mortgage. The next day I got a decision and was given a mortgage in principle! And now 3 months later I own my very first home! I had the same Mortgage advisor through the whole process who was very helpful and knowledgable and kept things simple. The whole process was very straightforward and I would reccomend this without reservation to anyone.

8th August 2017 Caseface
2 Year Fixed Rate Mortgage (75% LTV)

Perfect

I had nothing but problems with a financial advisor so I went direct to adlermore the service the honesty from the company 5 star made up after hearing bad reviews I was worried but having dealt with them just amazing the leading banks should take a leaf out of this company's book

24th January 2017
2 Year Fixed Rate Mortgage (80% LTV)

Great company for expertise

I already had a product from Aldermore so when I seen the home of our dreams we decided to see what Aldermore could do for us. We had expert advice on the best product that suited our income and outgoings, from application to completion we were kept updated on a daily basis! I can't think of any other bank that would do that! A very personal touch. Very happy

11th January 2017 Mrpat