Our Tools and Guides for First Time Buyers

At Newcastle Building Society, we understand that the journey to buying your first home is exciting, but it's easy to feel lost. There is so much to think about, even before the house-hunt has begun!

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So whatever stage of the journey you're at - whether you're still saving for your deposit, looking for the best mortgage deals for first time buyers, or have your completion date in sight - you'll find all of our helpful first time buyer guides and tools below to help you stay on track.

First things first - how much do you have for a deposit?

The amount that you can afford to put down as a first time buyer deposit will directly impact how much you will be able to borrow for your mortgage. So if you don’t yet have a deposit to put down on your first home, we have a range of savings products that can help you save - have a look at our saving for your first home page.

Talking about how deposits impact on your borrowing, our how much do you need for a deposit? guide will give you information about saving for a deposit, tips to help you save faster and the other costs of buying your first home that you'll need to factor into your budget.

If you’re buying a home using a gifted deposit from your parents or other family members, we're here to help you too! Check out our gifted house deposits guide.

Find out how much you can borrow

Before the search for your perfect first home begins, you'll need to know how much you can afford to borrow for your mortgage, especially as some estate agents won't allow you to view properties with them until they know that you're likely to find a lender.

Our how much can I borrow? guide explains how we calculate the amount that we could be willing to lend you, based on your income and monthly outgoings. Alternatively, you can use our simple online mortgage affordability calculator for an idea of how much you could borrow before you speak to us.

Choose which type of first time buyer mortgage is best for you

Once you have an idea of how much you can borrow, you can compare mortgage deals for first time buyers to decide which one would be best for you. There are several different types of mortgage deals on the market, which can sometimes make it tricky for you to know which one is best for you and your circumstances.

Our which type of mortgage is best for you? guide explains the available options for first time buyer mortgages and the features and benefits of each. You can then calculate the repayments you're likely to make on each type of mortgage with our quick mortgage repayment calculator.

Know what to expect at each stage of the house buying process

It’s time for the exciting bit - looking for your first property! In our first time buyers' step by step guide to the house buying process, we break down the stages and typical timeline of buying a house. This includes everything from how to make an offer on a house, the mortgage application process and home buyers survey information.  At this stage, it’s also worth considering what stamp duty you will pay on your new home, if any. Check out our everything you need to know about stamp duty guide.

Get prepared for a stress-free moving day

As soon as you've found a property to buy, you'll be daydreaming about moving in! Now is a good time to start finalising moving day plans, especially if your completion date is fast approaching. It is wise to think practically about your countdown to moving day, especially if you live in rented accommodation as you may need to give a certain amount of notice to your landlord.

We hope you find our first time buyer guides helpful - but should you need more assistance or would like a mortgage quotation for buying your first home, you can speak to one of our expert mortgage advisers by calling the number below or by booking an appointment.

Your mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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443456064488

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