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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. 

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

2 Year Discount

1.94% 4.6% APRC 90% £999 View
for 24 months
find out more

Representative example

A Mortgage of  £221,778.00, payable over 14 years and 4 months (172 months) initially on a discounted rate for 2 years (24 months) of 1.94% and then on our current standard variable rate of 5.34% for the remaining 12 years and 4 months (148 months) would require 24 monthly payments of £1478.01 then 148 monthly payments of £1796.07. The total amount payable would be £303,162.05 made up of the loan amount plus interest (£79,840.05) with a £999.00 completion fee, £290.00 valuation 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 4.6% representative APRC.

3 Year Discount

2.89% 4.6% APRC 95% £499 View
for 36 months
find out more

Representative example

A Mortgage of £247,702.00, payable over 17 years and 4 months (208 months) initially on a discounted rate for 3 years (36 months) of 2.89% and then on our current standard variable rate of 5.34% for the remaining 14 years and 4 months (172 months) would require 36 monthly payments of £1,515.35 then 172 monthly payments of £1,776.39. The total amount payable would be £361,707.97 made up of the loan amount plus interest (£112,961.97) with a £499.00 completion fee, £290.00 valuation fee, £30.00 CHAPS fee, £105.00 legal fees and £120.00 mortgage exit administration fee. The overall cost for comparison is 4.6% representative APRC.

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

2 Year Fixed

2.79% 5.1% APRC 95% £999 View
for 24 months
find out more

Representative example

A Mortgage of  £164,114.00, payable over 22 years and 5 months (269 months) initially on a fixed rate for 2 years (24 months) of 2.79% and then on our current standard variable rate of 5.34% for the remaining 20 years and 5 months (245 months) would require 24 monthly payments of £821.32 then 245 monthly payments of £1,028.69. The total amount payable would be £273,554.75 made up of the loan amount plus interest (£107,966.75) and a £220.00 valuation fee, £999.00 completion fee, £30.00 CHAPS fee, £105.00 legal fees and £120.00 mortgage exit administration fee. The overall cost for comparison is 5.1% representative APRC.

3 Year Fixed

3.09% 4.9% APRC 90% £999 View
for 36 months
find out more

Representative example

A Mortgage of  £164,114.00, payable over 22 years and 5 months (269 months) initially on a fixed rate for 3 years (36 months) of 3.09% and then on our current standard variable rate of 5.34% for the remaining 19 years and 5 months (233 months) would require 36 monthly payments of £846.34 then 233 monthly payments of £1,022.74. The total amount payable would be £270,639.00 made up of the loan amount plus interest (£105,051.00) and a £220.00 valuation fee, £999.00 completion fee, £30.00 CHAPS fee, £105.00 legal fees and £120.00 mortgage exit administration fee. The overall cost for comparison is 4.9% representative APRC.

3 Year Fixed

3.19% 4.9% APRC 95% £499 View
for 36 months
find out more

Representative example

A Mortgage of  £164,114.00, payable over 22 years and 5 months (269 months) initially on a fixed rate for 3 years (36 months) of 3.19% and then on our current standard variable rate of 5.34% for the remaining 19 years and 5 months (233 months) would require 36 monthly payments of £854.78 then 233 monthly payments of £1,023.94. The total amount payable would be £270,736.66 made up of the loan amount plus interest (£105,648.66) and a £220.00 valuation fee, £499.00 completion fee, £30.00 CHAPS fee, £105.00 legal fees and £120.00 mortgage exit administration fee. The overall cost for comparison is 4.9% representative APRC.

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: