First Time Buyer Mortgages
A first time buyer mortgage is sometimes heavily discounted for a set period of time, before the borrower has to pay the standard variable rate that would otherwise have applied to that mortgage. In spite of this "helping hand" low start special rate, however, recent house price gains have all but put property ownership out of the reach of those just starting out on the housing ladder. A first time buyer can also have a fixed or capped rate mortgage.
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