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First time buyer
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Mortgages for first-time buyers

Buying your first home is an exciting time, but there can be a lot to think about. One of the first steps is applying for a mortgage - and with so many products out there it may seem like a daunting task!

Let SoSmart Money make the journey a little easier for you, by helping you to compare the right products for you.

Your first mortgage

Before applying for a mortgage, you'll need to work out exactly how much you can afford to borrow, which you can do by using our simple salary calculator.

Mortgage companies will take other things into consideration too, such as your credit rating, but the salary calculator will give you a rough idea of how much you can afford to borrow.

Once you have worked this out, you can compare a number of different mortgage products, specifically designed for first -time buyers, showing you the interest rates and what your monthly payments are likely to be. Many first-time buyers choose fixed-rate mortgages, as they know exactly how much they will paying each month - it's a good way of budgeting if you're new to it - but there are different types of mortgages available to suit all types of buyers.

As a first-time buyer, you are likely to require a deposit. Average deposits range from 5% to 20% of the value of the loan.
The bigger the deposit you can provide will usually open you up to more preferential rates from lenders.

Expert mortgage advice for first time buyers

If you'd like a helping hand to guide you through the mortgage maze, then we have advisers at hand, who can give you invaluable advice on the different products available, as well as helping you to choose the right mortgage for you.

Useful tools and calculators

Stamp duty calculator

Check how much stamp duty you will need to pay

Borrow calculator

Estimate how much you can borrow based on your income. If single, enter 0 in second persons income

LTV calculator

Calculate the loan to value that you need

Free credit report

We have teamed up with Noddle, who will provide you with a free credit report for life.

Get your report

Need help, read our guides

We have a large range of mortgage guides to help you find the information you require

Read guides

How can we help you?

SoSmart Money are specialists when it comes to mortgage and insurance advice. Our trained expert advisers have access to the UK’s leading lenders and using their knowledge and skills will place you with the most suitable leader and product for your needs.

Speak to one of our experts for mortgage advice, life insurance cover, to protect your income, insurance your home or contents and private medical cover.

trust pilot

"Matthew at So Smart found me the best deal for my first Mortgage, he was extremely helpful! I would highly recommend this company!"

"I've been looking to switch mortgages recently to secure a better rate and the guys at So Smart Money helped me do just that."

"My mortgage enquiry was dealt with swiftly and professionally. I would highly recommend So Smart Money to others."

"I've used sosmartmoney a couple of times now, I checked my old mortgage with them and it encouraged me to get a better deal."

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Winner of AI Finance awards 2015 for:
Best personal finance comparison site &
Best online price comparison platform

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How it works

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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So you have adverse credit

Don't worry we can still help, simply follow the steps below

1

First go to: noddle.co.uk and get a copy of your credit report (don't worry the service is free for life)

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2

Then get in touch with us and let us know your score, good or bad!

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We'll then search for a lender who will be suitable for you.

Using your credit score allows us to apply for products you're more likely to be accepted for.

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