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First-time buyers: Shortcuts to a first mortgage and buying a house

This is Money's mortgages and property experts Simon Lambert and Lee Boyce set out the problem for first-time buyers - and presents the solutions...

The biggest weapon in a first-time buyer's arsenal is knowledge about the homebuying process and an awareness of what's going on in the property market.

This is Money's mortgages and homes section is packed with advice for first-time buyers and carries the latest news and up-to-date features, which can help you achieve the dream of owning your first home.

Here we round up tools, expert advice, latest stories tips to give you a helping hand.

Top tools

- Calculator: Mortgage affordability

- Calculator: Rate rise impact

- Calculator: Stamp duty for first-time buyers

Latest on the property market

- What next for house prices

- What next for mortgage rates?

Latest stories

>> Parents warned on perils of helping children get on the housing ladder with guarantor mortgages

Increasing numbers of first-time buyers are turning to their family to ask them to act as guarantors on a home loan in the hope this will encourage banks to lend them more money. (November 2012).

>> 'I'm wasting money paying rent and want to buy a home, what's the most I can borrow on my £14k salary?'

This is Money and mortgage expert David Hollingworth answer the reader query (November 2012).

>> 'I'm fed up of being part of Generation Rent, I want to buy': But is it worth trying to climb on the property ladder?

First-time buyers are struggling to take advantage of lower house prices as a shortage of mortgages and big deposit demands still hamper them, but is it even worth clambering onto the property ladder tight now. Linda Harrison explores the options for hopeful homeowners (September 2012).

>> Number of first-time buyers expected to increase over the next year but will remain 'painfully shy' of normal levels

The number of first-time buyers in the next 12 months is set to increase, driven by a wave of university graduates aiming to get on the property ladder with their parents’ help, survey findings have indicated (September 2012).

>> Rental prices soar to another new high as first-time buyers struggle to get on the property ladder

The average property rental price in England and Wales has increased for the fourth month in a row in July to £725 (August 2012).

>> Mortgage rate DOUBLES if you don't pay big deposit: Housebuyers hit by two-tier loans market

Homebuyers are facing a two-tier mortgage market, with a growing gap between those lucky enough to be able to put down substantial deposits and those that can’t (July 2012).

>> 40,000 first-time buyers every year becoming trapped in negative equity

Around 40,000 first-time buyers a year are sleepwalking into a negative equity trap which threatens to leave many unable to move for a decade (July 2012).

>> Dearth of first-time buyers blamed for house prices 'stuck in doldrums', say RICS

The struggle facing first-time buyers deepened in June, with the weakest readings for new buyer enquiries for more than a year and a half (July 2012).

How to cut the cost of buying and sellingBuying and what you can borrow

- Mortgages, solicitors, homebuying costs and surveys. What you need to know. ›› A quick guide to buying a home

- Experts recommend no more than 35 per cent to 40 per cent of post-tax income should go on mortgage payments ›› Affordability calculator

Experts and advice

Ask an expert Got a question about buying your first home? This is Money has a pool of experts who may be able to answer your questions. E-mail: experts@thisismoney.co.uk with your question and contact details.

Getting the best deal

The best mortgage deals Search for the right mortgage deal for you with This is Money's mortgage finder. Take the pain out of finding the best deal by comparing deals online

The best insurance deals Just taking out your mortgage lender's insurance without shopping around could bump up your costs. Search and compare the best home, life and mortgage protection insurance deals

Number crunching

Mortgage affordability calculator Use This is Money's mortgage affordability calculator to find out how much you could afford. Plus use our monthly interest calculator to check how much a mortgage will cost

Stamp duty calculator Find out how much stamp duty you will have to pay on your dream home with This is Money's calculator

Savings calculator If you are saving for a deposit, see how your money will build up. And for the latest saving news and advice see our saving and banking section


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