If you’re a first-time buyer in the UK, there’s no one “best” mortgage that fits everyone, but there are common features and good options you should aim for. I’ll walk you through what to look for + some of the best options at the moment. If you’re buying outside the UK or in a different country, I can pull up local details too.
✅ What to look for
Here are the key features you should consider when choosing a mortgage:
- Loan-to-Value (LTV): This is how much you borrow as a % of the property value. For first-time buyers a higher LTV means you can proceed with a smaller deposit. E.g., some mortgage products allow up to 95% LTV (so deposit ≈ 5%). finder.com+2NerdWallet+2
- Fixed vs variable interest rate:
- Fixed-rate mortgages lock your rate for a period (e.g., 2, 5 years). Good for stability. NerdWallet+1
- Tracker/variable follow the base rate, so monthly payments can rise. More risk. NerdWallet
- Affordability & income multiple: Lenders check how much you can borrow relative to your income, your deposit, your outgoings. Some first-time buyer schemes allow more generous income multiples. Trinity Financial+1
- Deposit size & deposit requirements: The bigger the deposit, generally the better your rate. But many schemes exist to help with smaller deposits. HomeOwners Alliance+1
- Fees, cashback, conditions: Be aware of product fees, early repayment charges, whether over-payments are allowed, etc. For example some lenders offer cash-back to first-time buyers. CompareBanks™+1
- Your personal situation: Where you live, property type, your credit history, career/income stability all matter.
- Future flexibility: You might move, want to overpay, or have changes – pick a mortgage that gives you options.
🏦 Strong mortgage options for first-time buyers (UK)
Here are some good ones right now:
- Nationwide Building Society: They offer up to 95% LTV for first-time buyers and have a “Helping Hand” programme allowing borrowing up to 6× income for first-time buyers. Trinity Financial+1
- Yorkshire Building Society: They have a “£5 000 Deposit Mortgage” for first-time buyers, up to 99% LTV in some cases. Review Centre+1
- In general, current competitive rates for first-time buyers (depending on deposit size/LTV) are: e.g., 95% LTV ~ 4.74 % rate (as of Oct 2025) for good credit. HomeOwners Alliance
🎯 My recommendation for you
Since you’re interested in working in the UK (you had interest in jobs in the UK from your memory), that suggests you might be looking at UK property. If that is the case, here’s a simplified suggestion path:
- Save at least a 5–10% deposit: Less than 5% deposit = fewer options and higher risk.
- Check your affordability: Make sure your income supports what you borrow.
- Go for a fixed-rate mortgage for the first 2–5 years: This gives you stability as you settle into your job/country.
- Use a whole-of-market mortgage broker: Especially as a first-time buyer, a broker can help compare many lenders and find best deal for your situation.
- Watch for additional schemes: There are first-time buyer schemes and government support for those with smaller deposits. NerdWallet+1
- Don’t borrow to your absolute max: It’s tempting, but being financially stretched is risky.
- Check what happens after the fixed period: What rate will you move to? Do you have ability to remortgage?
