FIRST TIME
BUYERS

First-time buyer mortgages are designed for individuals who have not previously owned a residential property, including those who have never purchased or inherited a home. It's important to note that if you've ever held ownership of any residential property, even through inheritance, you wouldn't qualify as a first-time buyer.

For those entering the property market for the first time, securing a mortgage necessitates a cash deposit. Unlike existing homeowners who can utilize the equity from their current property as a deposit for a new purchase, first-time buyers must provide this initial sum from their savings or other sources.