>

First time buyer

Buying your first home

Buying your first home is one of life's great experiences, but it’s a big step for anyone. We can guide you through the process and help find the right mortgage for your particular circumstances. Wherever you’re buying, speak to one of our mortgage advisors and find out how we can help.

A few things to consider when buying a new home:

Budgeting for your new home

Before you do anything, we recommend you speak to a Barclays Wealth mortgage adviser and to friends and family who have already bought a property. Next, find out how much you could borrow and how much you can afford.

Mortgage deals

We have a range of mortgage deals that are designed to help first-time buyers, with features including:

  • No higher lending charge. Unlike some other lenders, we do not charge a fee if you borrow more than a given percentage of the value of the property.
  • Borrow up to 85% of the property’s value or purchase price. In this case you would need to have a deposit to cover the remaining 15%.
  • Fixed rate mortgages that give you the comfort of knowing how much you're paying each month for the fixed rate period.
  • The chance to buy with another person so you can increase the amount you borrow.
  • Early Repayment Charges may apply

Choose your property

Put in an offer on your chosen property. If it's accepted, we can let you know about the legal and administrative processes.

Moving house

When you and your legal adviser are happy, contracts are exchanged. Let everyone know you're moving. Make a checklist of what you need to do. Completion is the day you pay the remainder of the purchase price, pick up the keys and move in.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Remember that where the mortgage is denominated in a currency other than sterling, CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING EQUIVALENT OF THE DEBT.

Additional help for First Time Buyers

For more further information regarding buying your first home, or to apply for a first time buyer mortgage;

Call us on +44 (0)1624 684305†

Terms and conditions apply to all mortgage products. We strongly recommend that you obtain your own independent tax advice before proceeding with an offshore mortgage.

Barclays Wealth will require a first legal charge over the property.

As a responsible lender, we only want you to borrow what you can afford, and in a way that is best for you. When considering your application, your financial circumstances will be assessed before we make a decision to lend money. And remember, if you should run into any financial difficulties, please contact us as soon as you become aware of them.

In all forms of advertising and marketing material where repayments are quoted, we will show clearly a typical Annual Percentage Rate (APR). We will also clearly indicate in all lending-related advertising issued in Jersey that we abide by the Code of Practice for Consumer Lending.

The products and services described on this page are provided by the following companies which are part of Barclays Wealth, Barclays Bank PLC in England and Wales and Barclays Private Clients International Limited in the Isle of Man, Jersey and Guernsey. For further information on these companies and Barclays Wealth please read the Important Information.