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Home Mortgages First time buyers

First time buyers

The Loughborough’s range of mortgages, specially designed for First Time Buyers, mean you could borrow up to 95% of the value of the property you want to buy.  If you have a larger deposit, there will be other mortgages in our range available to you.

Try our mortgage calculator, which is designed to show you how much you could potentially borrow, which products are available to you and how much your monthly payments would be. 

Helpful Information

Try our mortgage calculator

How much can I borrow?

How much can I borrow and what would it cost?

Our mortgage calculator is designed to show you how much you could potentially borrow and how much your monthly payments would be. The amount is based solely on your income without deducting household expenses and financial commitments. Your mortgage adviser will take you through the application process and will calculate the amount you can afford to borrow based on your income after the deduction of those expenses and commitments. Further restrictions may apply for specialist products.

Gross annual income

 

Mortgage details

 

Payment options

Your monthly repayments

 
Range dependent on the products in the comparison list below

Mortgages for first time buyers

Variable Rate Mortgages
Product Initial rate Overall cost for
comparison 		Max % LTV Completion fee Representative
Example 		Mortgage
repayment

FTB 3 Year Discount

 3.34% 4.7% APRC 95% £99 View
for 36 months
find out more

Representative example

A Mortgage of  £178,930, payable over 23 years and 9 months (285 months) initially on a discounted rate for 3 years (36 months) of 3.34%  and then on our current standard variable rate of 4.84% for the remaining  20 years and 9 months would require 36 monthly payments of £910.25 then 249 monthly payments of £1,041.25. The total amount payable would be £294,955.59 made up of the loan amount plus interest (£113,750.81) with a £99 completion fee, valuation fee £220.00, Chaps fee £30.00, Higher Lending Charge £1,700.78, legal fees £105.00 and £120.00 mortgage exit administration fee. The overall cost for comparison is 4.7% representative APRC.

Other mortgages that may suit you

Fixed Rate Mortgages
Product Initial rate Overall cost for
comparison 		Max % LTV Completion fee Representative
Example 		Mortgage
repayment

3 Year Fixed

3.49% 4.8% APRC 95% £499 View
for 36 months
find out more

Representative example

A Mortgage of  £163,208.00, payable over 26 years (312 months) initially on a fixed rate for 3 years (36 months) of 3.49%  and then on our current standard variable rate of 4.84% for the remaining 23 years would require 36 monthly payments of £806.71 then 276 monthly payments of £919.90. The total amount payable would be £284,063.57 made up of the loan amount plus interest (£118,250.34) and a £200.00 valuation fee, £499.00 completion, £100.00 booking fee, Higher Lending Charge of £1,551.23, £30.00 Chaps fee, £105.00 legal fees and £120.00 mortgage exit administration fee. The overall cost for comparison is 4.8% representative APRC.                

3 Year Fixed

2.69% 4.5% APRC 90% £399 View
for 36 months
find out more

Representative example

A Mortgage of  £163,208.00, payable over 26 years (312 months) initially on a fixed rate for 3 years (36 months) of 2.69%  and then on our current standard variable rate of 4.84% for the remaining 23 years would require 36 monthly payments of £729.66 then 276 monthly payments of £902.79. The total amount payable would be £276,530.16 made up of the loan amount plus interest (£112,348.16) and a £220.00 valuation fee, £100.00 booking fee, £399.00 completion fee, £105.00 legal fees, £120.00 mortgage exit admin fee and £30.00 Chaps fee. The overall cost for comparison is 4.5% representative APRC.                                                                                  

5 Year Fixed

3.99% 4.8% APRC 95% £99 View
for 60 months
find out more

Representative example

A Mortgage of  £163,208.00, payable over 26 years (312 months) initially on a fixed rate for 5 years (60 months) of 3.99% and then on our standard variable rate of 4.84% for the remaining 21 years would require 60 monthly payments of £849.99 then 252 monthly payments of £917.01. The total amount payable would be £283,238.96 made up of the loan amount plus interest (£117,825.73) with a £100.00 booking fee, £200.00 valuation fee, £99.00 completion fee, £30.00 Chaps fee, Higher Lending Charge of £1,551.23, legal fees of £105.00 and a mortgage exit administration fee of £120.00. The overall cost for comparison is 4.8% representative APRC.                                                                                                                                                                                              

5 Year Fixed

2.99% 4.3% APRC 90% £300 View
for 60 months
find out more

Representative example

A Mortgage of  £163,208.00, payable over 26 years (312 months) initially on a fixed rate for 5 years (60 months) of 2.99% and then on our standard variable rate of 4.84% for the remaining 21 years would require 60 monthly payments of £754.66 then 252 monthly payments of £893.34. The total amount payable would be £271,599.07 made up of the loan amount plus interest (£107,417.07) with a £199.00 booking fee, £220.00 valuation fee, £300.00 completion fee, £30.00 Chaps fee, legal fees of £105.00 and a mortgage exit administration fee of £120.00. The overall cost for comparison is 4.3% representative APRC.                                                                                                                                                                                     

Helpful Information

How to apply...

The Loughborough mortgage service is tailored to each individual and offered on a fully advised basis where applicable. Our qualified advisers will spend time with you to understand your mortgage needs and financial circumstances before recommending the most suitable solution for you.

There are a number of ways you can arrange to talk to one of our friendly team of Advisers, choose what’s best for you:

01509 631950
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