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First Time Buyer Mortgages

When you're a first time buyer, there's a lot to think about from where you want to live, to what style of property you prefer - and that's before we even start talking about a mortgage.

Saving for a deposit may seem like a never ending task, however, our low deposit mortgages can make this achievable more quickly. 95% loan to value mortgages may have a higher interest rate than mortgages at 75% loan to value, however they do enable you to purchase your home sooner and hence start using your monthly payments towards reducing your mortgage rather than going to a landlord or sitting in a savings account.

Buying your first home can be a daunting prospect

Deciding on the right time to stop saving and buy is a decision requiring careful consideration and seeking the advice of an independent financial advisor may be beneficial to help make sure you are making the best decision possible. When you talk to us about your mortgage we will assess that it is affordable for you. You may also like to consider Government-run schemes which can make taking that first step on the housing ladder more affordable.

Shared ownership mortgages

Previously known as “part buy, part rent”, shared ownership mortgages are aimed at first time buyers or those who find it difficult to access the residential mortgage market because of deposit requiements. Often cheaper than private rental accommodation, borrowers purchase part of the property initially, and pay rent to the landlord or housing association on the remaining share, gradually buying further shares to eventually own the home outright, if the lease allows.

Remortgaging for Help to Buyers

Borrowers who took advantage of The Government’s Help To Buy scheme when it first launched may now be reaching the end of their mortgage term and will automatically be switched to their lender’s standard variable rate. Some lenders do not offer any remortgaging options to those with a Help to Buy mortgage, but all of Ipswich Building Society's standard remortgage products are available to those wishing to move away from the Help to Buy scheme, and acquire 100% of their property’s equity.

Find out how we're helping Help to Buy remortgagers here.

At Ipswich Building Society we undertake what is often referred to in the industry as 'manual underwriting'. This simply means that our mortgage experts review each and every mortgage application on its own individual merit - we don't use a computerised system, so you won't get an automatic 'computer says no' response.


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