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

12:59 AM Tracker loan rates at record low - The Press Association FreeRateUpdate.com Tracker loan rates at record low The Press Association There was also an improvement in the cost of fixed rate mortgages, with two-year loans falling to an average of 3.97%, a level last seen in July 2003, ... Find Mortgage Rates in Your AreaMonitorBankRates.com MBA data show rebound in mortgage refinancingBills.com Tracker mortgages continue to gain groundFair Investment Company Brentwood Press -Real Estate News | BiggerPockets.com (blog) -Inman.com all 73 news articles » 01/01/1970

12:59 AM The acute vulnerability of the mortgage market - BBC News (blog) Daily Mail The acute vulnerability of the mortgage market BBC News (blog) Mortgage banking is one business that remains hooked on taxpayer support in a way that most would say is unhealthy: via the Special Liquidity Scheme, ... Banks 'still need government support' to give mortgagesThis is London We may run out of money, say mortgage lendersManagement Today Lenders warn of mortgage shortagesFinancial Times Mortgage Strategy -Mortgage Strategy -Financial Times all 19 news articles » 01/01/1970

12:59 AM SVR remortgaging advice from moneysupermarket.com - Mortgage.org.uk Money High Street SVR remortgaging advice from moneysupermarket.com Mortgage.org.uk Mortgage holders who currently have a standard variable rate (SVR) product may be considering changing to another deal. As lenders start to increase the ... SVR mortgage borrowers `could benefit from switching`Think Money Is it time to remortgage?Money High Street Most SVR borrowers 'should consider switching'Your Mortgage Mortgage Strategy -Mortgage Solutions -Money Marketing all 16 news articles » 01/01/1970

12:59 AM The unequal credit crunch - Asia Times Online Washington Post The unequal credit crunch Asia Times Online Of the real estate loans, home mortgages (presumably mostly again government guaranteed) were up 3%, home equity loans (mostly utterly economically ... Fed's Bullard: Housing should be key in reformReuters Fed's Bullard: Fed Could Keep Interest Rates Low Until 2012FOXBusiness Federal Reserve hopes clear exit strategy will boost market confidenceWashington Post Money Supply (blog) all 95 news articles » 01/01/1970

12:59 AM Crackdown not needed - Globe and Mail CBC.ca Crackdown not needed Globe and Mail Standards for mortgages insured by CMHC were loosened in 2006, both by the lengthening of amortization periods and by openness to the financing of home ... The making of a housing bubbleCTV.ca Flaherty has no plans to tighten mortgage rules: Globe and MailCanadian Mortgage Broker News Outlook 2010: Is this a real estate boom or a bubble?CanadianBusiness.com Wall Street Journal -Seeking Alpha (blog) -Financial Times all 116 news articles » 01/01/1970

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