First-Time Buyers

There are a number of Government and lender initiatives to help first-time buyers get onto the property ladder. Our aim is to make your first home purchase as straightforward as possible by explaining each step clearly and helping you find the most suitable mortgage for your situation.
You can download our First-Time Buyer Guide from the documents section of our website for additional information.

 

Moving Home

If you already own a property and are planning to move, there are two main options: you can either port your existing mortgage to the new property, or take out a completely new mortgage. We will review your current deal, calculate any potential costs or savings, and help you choose the most efficient option.

 

Remortgaging

Remortgaging means switching your existing mortgage to a new product, either with your current lender or a new one. This is usually done to secure a better rate, release equity, or consolidate borrowing. We can review your circumstances and help ensure your new deal suits both your short and long-term goals.

 

Buy-to-Let

If you are purchasing a property to rent out, you will need a buy-to-let mortgage. These are assessed differently from residential mortgages, as lenders look at the expected rental income and your overall financial position. We can help you understand how lenders calculate affordability and find suitable options based on your objectives.

 

Shared Ownership

Shared ownership is a part-buy, part-rent scheme that helps eligible buyers purchase a share of a property and pay rent on the remaining portion. Over time, you may be able to increase your ownership share. This option can make buying a home more affordable for people who do not yet have a large deposit.

 

Mortgage Guarantee Scheme

Launched by the UK Government in March 2021, this scheme supports lenders in offering mortgages with deposits as low as 5%. It allows for 91%–95% loan-to-value borrowing and is designed to make home ownership more accessible for buyers with smaller deposits.

 

Fixed Rate Mortgages

A fixed rate mortgage allows you to lock in your interest rate for a set period, usually 2, 3 or 5 years, though some lenders offer 7 or 10-year deals. During the fixed term, your monthly payments stay the same, helping you budget with confidence.

 

Tracker Rate Mortgages

A tracker mortgage follows the Bank of England base rate plus a set percentage. If the base rate changes, your monthly payments will go up or down. This type of mortgage can be useful for borrowers who believe interest rates will remain low or who wish to make overpayments without restriction.

 

Lifetime Tracker Mortgages

A lifetime tracker mortgage follows the Bank of England base rate for the entire term of the mortgage. Payments can fluctuate, but it offers long-term flexibility for borrowers comfortable with potential changes in rates.

 

Repayment Mortgages

Each monthly payment covers both interest and part of the capital borrowed. As long as payments are maintained, the mortgage will be fully repaid at the end of the term. This is the most common type of residential mortgage.

 

Interest-Only Mortgages

With an interest-only mortgage, monthly payments cover only the interest charged on the amount borrowed. The capital must be repaid in full at the end of the term using other means, such as investments, savings, or the sale of the property. This option is more common for certain investment or short-term strategies and requires an approved repayment plan.

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Landlord and Investment Mortgages

Whether you are an experienced landlord expanding your portfolio or investing for the first time, it is important to understand the different types of property finance available. We work with a wide range of lenders offering tailored solutions for every type of investment property, from single lets and HMOs to short-term holiday lets and development projects.

 

Buy to Let Mortgages

A buy-to-let (BTL) mortgage is designed for landlords purchasing a property to rent out rather than live in. The loan amount is usually based on the potential rental income rather than personal income.
While property investment can provide long-term financial rewards, it also carries risks such as void periods or changes in property values. We can help you assess affordability, expected yields, and the most suitable products for your goals.
Example: You buy a flat for £250,000 with a £62,500 deposit (75% LTV). The rent is £1,200 per month, and the lender tests affordability based on the rental coverage ratio (typically 125% for basic rate taxpayers).

 

HMO (House in Multiple Occupation)

An HMO mortgage applies to properties rented to three or more unrelated tenants, such as students or professionals sharing facilities. Lenders view HMOs as higher risk, so they require larger deposits and stronger rental yields.
Example: You convert a four-bedroom property into an HMO with individual tenancies. The combined rental income is £2,800 per month, giving a higher yield than a single tenancy but with stricter lender criteria and potential licensing requirements from the local council.

 

Holiday Let Mortgages

If you want to buy a property to rent out to different guests throughout the year, you will usually need a holiday let mortgage.
To qualify as a Furnished Holiday Let for tax purposes, HMRC requires that the property be available to let for at least 210 days a year and actually let for at least 105 days.
Example: You buy a cottage in Cornwall that you use personally for a few weeks each year and rent out on a short-term basis for the rest of the year. The mortgage and tax treatment will differ from a standard buy-to-let.

 

Bridging Finance

A bridging loan provides short-term funding to cover the gap between buying one property and selling another, or to enable quick purchases, renovations, or development projects.
Bridging loans are usually secured against property and repaid within 6–12 months. They can be very useful but are generally more expensive than standard mortgages.
Example: You want to buy a new home for £400,000 before selling your current property valued at £600,000. A bridging loan allows you to complete the purchase now and repay the loan once the sale completes.

 

Second Home Mortgages

A second home mortgage is used when purchasing an additional property that you intend to use personally, such as a weekend or holiday home. This is different from a second charge mortgage, which releases equity from your existing property.
Example: You live in London but want a small house by the coast to use during holidays. A second home mortgage allows you to finance this purchase, but some lenders require higher deposits and may apply different affordability rules.

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Commercial Mortgages and Development Finance

Commercial finance can provide tailored funding for business premises, investment properties, or development projects. Whether you are buying your first commercial property, refinancing an existing site, or undertaking a new development, there are several specialist lending options available to suit different goals.

 

Commercial Developments

A commercial mortgage can be used to purchase, refinance, or expand land and property for business purposes. This includes offices, shops, warehouses, and other income-producing premises. It operates similarly to a residential mortgage but is assessed on the business’s performance and repayment ability.
Example: A company borrows £500,000 to buy a larger production facility to expand operations. The loan is secured on the new property and repaid over a 10–15 year term using business income.

 

Land Developments

Development finance is a short-term loan designed to fund the purchase and construction of new properties or major refurbishment projects. These loans are usually interest-only, with the capital and rolled-up interest repaid when the development is sold or refinanced.
Example: A developer buys land for £300,000 and secures a £700,000 development loan to build four new houses. Once the properties are sold, the loan and interest are repaid in full, and the remaining profit is released to the developer.

 

Semi-Commercial Mortgages

A semi-commercial mortgage is used for properties that combine both residential and commercial elements — for example, a shop with a flat above it. These loans can be used to purchase or refinance mixed-use buildings and are available to both business owners and investors.
Example: A client purchases a property consisting of a café on the ground floor and a two-bedroom flat above. The semi-commercial mortgage covers both parts of the property under one loan arrangement.

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Specialist Mortgages

Specialist mortgages are designed for borrowers with unique circumstances or requirements that do not fit standard mortgage criteria. These include short-term finance, additional secured borrowing, or flexible mortgage structures that use savings to reduce costs. Understanding how each product works helps ensure you choose the most appropriate option for your needs.​

 

Debt Consolidation

Debt consolidation allows you to combine multiple existing loans, credit cards, or other debts into a single, more manageable monthly payment — often through a remortgage or secured loan. By restructuring your finances this way, you may reduce your overall interest rate, simplify repayments, and regain better control of your cash flow.

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Second Charge Mortgages

A second charge mortgage (also known as a secured loan) allows you to borrow additional funds against your property without remortgaging. It is secured behind your main mortgage, meaning your first lender has priority if you default. These loans can be helpful for raising capital when remortgaging would trigger high early repayment charges or when your current lender is unable to offer further borrowing.
Example: You have £150,000 remaining on your main mortgage and want to raise £40,000 for home improvements. Instead of remortgaging and losing your low fixed rate, you take a second charge loan secured against the same property for the additional funds.

 

Offset Mortgages

An offset mortgage links your savings and current account to your mortgage. The money in your linked accounts is “offset” against your mortgage balance, so you only pay interest on the difference. You still have access to your savings if needed, but they effectively reduce your interest costs.
Example: Your mortgage is £250,000 and you have £50,000 in savings. You only pay interest on £200,000, which can reduce your monthly payments or shorten your mortgage term, depending on how the account is set up.

 

Holiday Home and Holiday Let Mortgages

A holiday home mortgage is for buying a second property that you and your family intend to use personally, such as a weekend or seasonal home.
A holiday let mortgage is for purchasing a property that will be rented out to guests on a short-term basis as a business. To qualify as a Furnished Holiday Let for tax purposes, the property must be available to rent for at least 210 days per year and actually let for at least 105 days.
Example 1 (Holiday Home): You buy a small house in Devon to use for family holidays and occasional weekend visits.
Example 2 (Holiday Let): You buy a coastal apartment that you list on short-term rental platforms throughout the year to generate income.

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Development Finance

Development finance provides funding for the construction, renovation, or conversion of property projects. These loans are typically short term and structured to release funds in stages, helping developers manage cash flow as work progresses. The right finance depends on the type and scale of the project, from individual self-builds to multi-unit residential or commercial developments.

 

Self-Build Mortgages

A self-build mortgage is designed for individuals who are building their own home rather than buying one that already exists. The funds are released in stages throughout the build, usually at key milestones such as foundation, walls, roof, and completion. This approach helps to ensure that money is available as construction progresses and reduces overall borrowing risk.
Example: A family secures a £300,000 self-build mortgage to construct their new home. Funds are drawn in five stages as the project moves from land purchase to final completion.

 

Commercial Developments

Commercial development finance is used to purchase or redevelop property for business or investment purposes. This can include office buildings, retail units, industrial sites, or mixed-use developments. The loan is secured on the property and may be used for acquisition, renovation, or expansion.
Example: A business owner obtains a £1.2 million commercial development loan to convert a warehouse into a set of serviced offices. The loan is repaid through refinancing or sale once the project is completed and tenants are secured.

 

Land Developments

Land development finance supports projects where land is being purchased for new construction or major refurbishment. These loans are generally interest-only for a short term, typically between 6 and 18 months, with interest often rolled into the loan to avoid monthly payments during the build.
Example: A developer buys a plot for £250,000 and arranges an £800,000 development loan to build eight new homes. The loan, including rolled-up interest, is repaid when the completed properties are sold.

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Expat Mortgages

 

Expat mortgages are designed for UK nationals or former UK residents who are living or working abroad but wish to buy, refinance, or retain property in the UK. These mortgages are available for both residential and buy-to-let purposes, though the application process can be more complex than standard UK lending due to additional checks and documentation requirements.

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There are many reasons why an expat might need a UK mortgage:

• Buying a home in the UK while planning to return in the future.

• Purchasing a property as a long-term investment in a stable housing market.

• Remortgaging an existing UK property after relocating overseas.

• Letting out a former home to generate rental income while abroad.

 

Expat mortgages often require larger deposits and may have slightly higher rates than standard mortgages, as lenders take into account foreign income, exchange rate risk, and tax residency status. Despite this, many lenders remain flexible and offer solutions specifically tailored for British citizens abroad.

 

Example 1: You are a UK national working in Singapore who plans to move back in two years. You take an expat mortgage to buy a house in Manchester now and rent it out until you return.

Example 2: You already own a property in London but now live in Spain. You remortgage it with an expat buy-to-let product to release equity for another investment.

 

We understand the challenges that come with time differences, different currencies, and managing applications remotely. Our role is to make the process as simple as possible — from verifying foreign income to coordinating with UK-based lenders, solicitors, and valuers on your behalf.