First time buyers

Helping you find your first home

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 Why choose us?

  • No product fee on some of our mortgages
  • Free standard valuation on most of our mortgages on properties up to £2.5 million

Guide: buying your first home

Everything you need to know from saving for a deposit to who you need to involve and when

Mortgage calculator

Find out what you could borrow and how much it could cost

Step up: Helping family to buy

Do you want to help your loved one onto the property ladder?

Designed to help make buying your first home easier

Mortgage guarantee scheme

The government provides a guarantee to lenders for offering mortgages up to 95% loan to value (LTV). This means if you couldn’t pay back your mortgage, the guarantee would protect the lender against a proportion of losses. You’re responsible for paying your mortgage under this scheme in exactly the same way as any other mortgage.

If you can afford to repay a mortgage but don’t have a large deposit, this scheme could help you and may mean you don’t have to wait so long to buy your first home.

You buy your new home with a Santander 5% deposit mortgage which needs to be repaid on a repayment (capital and interest) basis. Call us to apply for one of these mortgages. They’re not available online or in branch.

Find out more on our mortgage guarantee scheme web page.

Shared Ownership

This scheme allows you to part-own, part-rent when you first buy your home. You can buy the remaining shares in your home as time goes on until you own 100% of the property.

  • The schemes are run by non-profit housing associations which own, let and manage rental housing
  • You need a minimum 10% deposit for the share of the home you’re buying with a mortgage
  • You pay a subsidised rent to the housing association for the part you rent.

To find out if you’re eligible for a Shared Ownership scheme take a look at the government’s information pages

Help to Buy: equity loan and London Help to Buy

This scheme combines a mortgage with an equity loan and allows you to buy a brand new home in England.

  • You need a minimum 5% deposit and the government lends you up to 20% of the cost of your newly built home, or up to 40% if you’re buying in London
  • The equity loan is interest-free for 5 years after which you start being charged interest
  • These mortgages are not available in branch, by phone or online, so you’ll need to speak to an Independent Financial Adviser.

Find out more

Forces Help to Buy

This is a Ministry of Defence (MOD) scheme to help regular armed forces personnel buy their first home.

  • The scheme lets you borrow up to 50% of your annual salary, up to a maximum of £25,000, to use towards the deposit on your first home
  • The loan is interest-free and must be paid back to the MOD within 10 years through your salary
  • You will need to check with the MOD to see if you qualify for this scheme
  • Call us to apply for one of these mortgages. They’re not available online or in branch.

Find out more about Forces Help to Buy

Help to Buy: ISA

If you have a Help to Buy: ISA, you can continue to save into your account until 30 November 2029. If you want to claim the 25% government bonus on your savings your conveyancer must do this by 1 December 2030 (eligibility applies). To check eligibility for the government bonus, visit the Help to Buy government website. The scheme has now closed to new applicants.

This is a brief summary of the 3 different types of mortgages we offer

Fixed rateTracker rateLifetime Tracker
Best for:
People who want an exact idea of what they’re going to have to repay for the next few years.

You can usually fix your deal for 2, 3 or 5 years. During this fixed period your monthly payments will stay the same. After your fixed period you’ll move onto the Santander Follow-on Rate (variable). If you want to finish your deal earlier you may pay an early repayment charge.
Best for:
People who think interest rates will stay low over the next few years or want to make unlimited overpayments on their mortgage.

You can choose a mortgage with an initial rate period and during this period your rate tracks above the Bank of England base rate. With this type of mortgage your payments may vary. The initial rate period is usually 2 years and after that you move onto the Santander Follow-on Rate (variable).
Best for:
People who don’t want to ever look for a new mortgage deal again or want to make unlimited overpayments.

With a Lifetime Tracker mortgage your rate will track above the Bank of England base rate for the life of your mortgage term. With this type of mortgage your payments may vary.

The graphs are for illustrative purposes only.

For an in-depth comparison of the mortgage types on offer read our guide to mortgages

Repayment mortgage

Your monthly payment covers both the amount you’ve borrowed and interest. So as long as you keep up your payments, your mortgage will be paid off at the end.

Interest only mortgage

Your monthly payment only pays off the interest. You’ll still need to repay the amount you borrowed at the end of your mortgage and will need a separate plan in place to do this (such as an investment or endowment). We may limit the amount allowed on interest only. 


You can choose to pay part of your mortgage as repayment and the other part as interest only.

Ways to apply


Get a no obligation decision in principle before you apply

By phone

0800 068 6064

Our mortgage team is here to help 9am to 7pm Monday to Friday and 9am to 2pm Saturday

Award-winning mortgage provider

  • Your Mortgage Awards 2020 Best First Time Buyer
  • Best Remortgage Lender 2019

Got a mortgage question?

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