First time buyers

Buying a first home is a big decision, but there’s nothing quite like the feeling of picking up the keys on the day you move in.

First time buyers guide

Moving with David Wilson Homes could be the quick and straightforward way to get onto the property ladder.

Competitive mortgage rates

With lenders competing in the marketplace, mortgage rates remain competitive. Less expensive borrowing costs mean that lenders are able to offer lower rate mortgages. 

Take at look at our handy Home Buying Guide for help navigating the home-buying process...

Rents are high

The trend of low mortgage rates continues in the UK. The average 10-year mortgage rate has fallen by more than a percentage point over the past three years, from 4.23% in January 2014 to just 3.2% today,1 while UK rents continue to rise in almost every area of the country.With tenants typically spending half3 of their income on rent on average, as a first-time buyer you could end up spending less on a mortgage each month than you currently spend on rent.

Property values are going up

The demand for property in the UK continues to outstrip supply. The average house in Britain will be worth £220,000 this year - up £9,000 on 2016 - which, combined with the low cost of borrowing, could make buying an additional property not only more affordable, but also a great investment for the future. 

For handy home buying advice, go to our key steps checklist.

There’s more choice of mortgages

In recent years, many more mortgages have come onto the market for buyers with smaller deposits. This has made it easier for people to buy the home they’ve always wanted, especially if they want to get a foothold on the property ladder. With competition between lenders still fierce and interest rates remaining low, this trend seems set to continue. We’ve created a handy step-by-step to prepare for your mortgage application.

Our great range of schemes makes moving easier

At David Wilson Homes we understand the challenges that face first-time buyers. That’s why we have developed a range of schemes and incentives to help you get moving.

For more information about ways we can help first time buyers, please visit one of our developments and speak to a Sales Adviser.

Help to Buy

Thanks to the UK Government’s Help to Buy scheme, you don’t need to save up a large deposit to get onto the property ladder. You can buy your first home with just a 5% deposit. 

The Government loan is interest-free for five years, so you’ll save on repayment costs during the early years of your mortgage. 

To see how Help to Buy could work for you, click on the link below and use our calculator.

Deposit Boost

If you have a 10% deposit we could boost it by an additional 5%, so you only need an 85% mortgage. Speak to a sales adviser to find out more.

Stamp Duty Paid

In some cases, we might be able to pay your Stamp Duty for you, meaning one less cost to worry about.

Parent Power

If you receive any help in putting together the funds for your deposit, we could provide the equivalent of a 5% annual interest payment on your benefactor’s contribution for five years.

Offers available on certain plots only - please see our offers page for details.

NB: Barratt Homes does not offer financial or legal advice. We would recommend that customers take financial advice specific to their circumstances before taking any action. Images may include optional upgrades. 

1. http://www.telegraph.co.uk/personal-banking/mortgages/should-get-10-year-mortgage-now/

2. https://homelet.co.uk/homelet-rental-index

3. https://www.lettingagenttoday.co.uk/breaking-news/2017/3/tenants-pay-half-their-salaries-in-rent--claim

4. http://www.telegraph.co.uk/business/2017/04/05/house-prices-rise-despite-brexit-fears/