Get on the property ladder with a primary time purchaser mortgage from Lloyds

[ad_1] Disclaimer This text was written by The Impartial, as a part of a paid sponsorship with Lloyds Banking Group. The data on this article was right on the sixteenth June 2025.

Renting can actually suck – it’s simple to really feel such as you’re throwing cash down the drain, irritating when you will have little or no say on adorning, and in some circumstances, landlords generally is a little, properly, tough. The cash leaves your financial institution every month, but you are feeling like you will have little to indicate for it, and shortly sufficient, the shine of not having to be accountable when one thing breaks or goes improper, wears off.

If you end up in that in-between, bored with renting however undecided of your subsequent transfer, that’s the place Lloyds is available in. Prepared to carry your hand and information you thru the emotional and nerve wracking expertise of shopping for your first dwelling, Lloyds have made it their mission to make the journey of shopping for a house as simple as attainable. You’ll be capable to depend on Lloyds to know your wants, assist you alongside the best way and assist discover you a mortgage that works for you, your life and funds.

Regardless of whether or not you’re trying to purchase a without end dwelling with your loved ones, an enthralling condo close to the seaside, or an area simply large enough for you and your four-legged finest good friend, Lloyds is there that will help you, together with 1000's of different first time patrons, make the step ahead into property possession.

A drop in mortgage charges might lastly imply dwelling possession

(Getty/iStock) Though the worth of houses is constant to skyrocket, mortgage charges are fortunately dropping for the primary time in a couple of years. On 8 Could, the Financial institution of England financial institution price went down by 0.25 per cent from 4.5 per cent to 4.25 per cent. There could be mild on the finish of the tunnel in the case of shopping for your first dwelling. Lloyds are in a position to present skilled steering alongside every step of the best way for first time patrons, which quickly sufficient, might embrace you.

Thankfully, the variety of first time patrons was up 19 per cent in 2024 in comparison with 2023, and first time patrons additionally made up over half (54 per cent) of all dwelling purchases made with a mortgage final yr, based on knowledge from Halifax which is a part of Lloyds Banking Group. So overlook considering that the subsequent step won't ever occur for you – Lloyds desires to assist you thru the processes as a lot as attainable.

Additional assist is out there for first time patrons

<img src="https://static.independent.co.uk/2025/06/24/22/b0f798becd6085ab8b8d385588db9422Y29udGVudHNlYXJjaGFwaSwxNzUwODQ4Nzcz-2.24335204.jpg" srcset="https://static.independent.co.uk/2025/06/24/22/b0f798becd6085ab8b8d385588db9422Y29udGVudHNlYXJjaGFwaSwxNzUwODQ4Nzcz-2.24335204.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/06/24/22/b0f798becd6085ab8b8d385588db9422Y29udGVudHNlYXJjaGFwaSwxNzUwODQ4Nzcz-2.24335204.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="The Financial Conduct Authority wants to explore whether firms can give more support to groups which may currently be underserved by the mortgage market (Anthony/Devlin/PA)" class="sc-1mc30lb-0 ggpMaE"/> The Monetary Conduct Authority desires to discover whether or not companies can provide extra assist to teams which can at present be underserved by the mortgage market (Anthony/Devlin/PA) (PA Archive) Lloyds has a variety of completely different mortgage choices for first time patrons, geared in direction of serving to them get on the ladder with a bit serving to hand. The Lloyds Lend a Hand mortgage permits members of the family assist first time patrons to get their very own dwelling sooner, with out the necessity to reward a deposit. If this selection works properly for you, your loved ones can place 10 per cent of the agreed property buy worth into a 3 yr fastened time period financial savings account as safety.

Equally, you would borrow as much as 22 per cent greater than Lloyds might usually lend these purchasing for a mortgage, with the First Time Purchaser Enhance mortgage.

No matter possibility you determine on, you possibly can apply on-line from the consolation of your individual dwelling, at a time that fits you. Lloyds additionally provides a web-based chat performance to talk to a mortgage skilled at any level in the course of the on-line course of. Equally, you possibly can communicate to a Mortgage Adviser and search mortgage recommendation. In case you’re nervous and need some extra assist? You would drop right into a free First Time Purchaser occasion run by Lloyds Financial institution earlier than you apply to seek out out extra in regards to the course of Please keep in mind you possibly can lose your property in the event you fail to maintain up along with your mortgage repayments.

Lastly lay down your roots

It’s an extremely emotional and proud time, proudly owning bricks and mortar and eventually feeling such as you’ve made it – as a result of let’s face it, on this financial system, getting on the property ladder can really feel like catching clouds. Earlier than you begin the seek for your first dwelling, you should use Lloyds' helpful mortgage calculator to learn how a lot you might be able to borrow in 5 minutes or much less, and what your month-to-month compensation could be.

Get a free fractional share price as much as £100.Capital in danger.

Phrases and circumstances apply.

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Get a free fractional share price as much as £100.Capital in danger.

Phrases and circumstances apply.

Go to web site ADVERTISEMENT

As soon as you've got finished your sums, and need to have the ability to inform your property agent that you just're able to take that subsequent step, you possibly can apply on-line in your settlement in precept, which solely takes round quarter-hour. Fortunate for first time patrons.

Whether or not you’re laying down roots in stylish East London, or will without end be a Northerner by way of and thru, there’s no must undergo this course of alone. Lloyds crew of mortgage consultants, free on-line first time purchaser occasions and devoted customer support, will make sure you're not navigating this minefield of a journey alone.