Buying your first home is a major undertaking, probably the biggest financial commitment you will ever make. Most people are unsure where to begin sorting out a first-time homebuyer loan.

There are literally thousands of mortgage deals to choose from, which is actually great as it means prices are competitive. But as a first time buyer it also means that the mortgage market place is incredibly confusing.

There are many terms and jargon such as: "fixed rates", "capped rates", "trackers", "remortgaging". How do you know which deal will be best for you? Will an advisor try to sell you the wrong mortgage just to get commission? Are endowments the root of all evil? What is an ISA mortgage? There are so many factors to take into consideration that you may well have your head in your hands by now.

First-time buyers should find basic answers to Mortgage questions on our pages via the navigation bar on the left and the FAQ and Glossary buttons at top page right. We have broken down the mortgage basics into managable chunks of information which should help a new home buyer to gain the confidence in understanding the mortgage market.

There are a number of advantages and disadvantages of being a first time buyer.

On the up side, many lenders have schemes specially aimed at the first time buyer market with special offers such as free valuation, legal fees paid or even cashbacks.

But on the down side, since you have never had a mortgage before, it is more difficult for you to prove that you will be a 'good borrower'.

Because house prices have risen quite a lot in the recent past, many first time buyers need to borrow quite large sums with little or no deposit. This can mean that you are pushing the limits on income multiple, loan size and loan to value.

Check the pages below and step through the types of mortgage available for first time buyers. Its at this time that you should see the sort of mortgage solution that may be right for you. Mortgage types suitable for buying first home.

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Mortgages explained | About mortgage types | repayment mortgage | endowment mortgage | interest only mortgages | how much can I borrow ? | mortgage payback rates | variable rate mortgages | fixed rate mortgages | capped rate mortgages | discounted rate loans | remortgages | first time buyers | buy to let mortgage | commercial mortgages | mortgage costs | glossary of terms | mortgage FAQ's |

Latest Mortgages News

06:08 AM Fixed mortgages: new lows for 15-, 30-year loans - Christian Science Monitor USA TODAY Fixed mortgages: new lows for 15-, 30-year loans Christian Science Monitor Fixed mortgages for 30-year loan dips to 3.79 percent; 15-year loan averages. 3.04 percent. But record low rates on fixed mortgages have not ignited home sales. By Marcy Gordon, AP Business Writer / May 18, 2012 A San Jose, Calif., home sits empty as ... 30-year mortgage rate falls to record 3.79%HeraldNet Mortgage rates fall to another record lowUSA TODAY 30-year mortgage rate falls to record 3.795Chicago Sun-Times all 318 news articles » 05/18/2012

08:37 AM Get ready for sharp rise in mortgage rates, warns Bank of England - Daily Mail Daily Mail Get ready for sharp rise in mortgage rates, warns Bank of England Daily Mail By Becky Barrow and Damien Gayle Homeowners should brace themselves for sharp increases in the cost of their mortgages, the Bank of England warned yesterday. It is a bitter blow for Britain's 11.2million mortgage holders and comes as a direct result of ... TSB slashes ratesStuff.co.nz Kiwibank cuts mortgage ratesNew Zealand Herald Eurozone crisis will mean higher mortgages in the UK, Bank of England warnsProperty Wire Mortgage Introducer -CTV.ca all 126 news articles » 05/17/2012

12:19 AM Principal Reductions Won't Solve US Mortgage Mess - Bloomberg PBS Principal Reductions Won't Solve US Mortgage Mess Bloomberg There are 11.1 million residential properties with underwater mortgages, only about 3 million of which are backed by Fannie and Freddie. Almost 80 percent of those 3 million borrowers, however, are current on their mortgage, demonstrating their ... What mortgage rate will you really get?MSN Money Harper: Isakson right on mortgage reformSavannah Morning News Mortgage Principal Reductions Weighed for Fannie, FreddieBusinessWeek PBS -Kansas City Star all 49 news articles » 05/18/2012

11:04 AM New UK Mortgages product data and calculators app - Phones Review Phones Review New UK Mortgages product data and calculators app Phones Review Everyone in this day and age really needs to keep a close eye on mortgages in the UK, we try to look for the best mobile apps and a new one to hit the Apple App Store is the free 'UK Mortgages' by Mortgage Brain. This seems like a good app, ... 05/18/2012

12:01 AM LSL tells buyers to expect costlier mortgages - The Independent LSL tells buyers to expect costlier mortgages The Independent The estate agent behind the Your Move and Marsh & Parsons chains braced would-be homebuyers yesterday to expect dearer mortgages amid mounting alarm over Europe's debt woes. Simon Embley, LSL Property Services' chief executive, said caution among ... Greece's default would 'raise the cost of mortgages'Evening Standard all 3 news articles » 05/18/2012

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