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Buying your first home

First time buyer mortgage

NatWest mortgages are available to over 18s. Your home may be repossessed if you do not keep up repayments on your mortgage.

Step 1: Find out what we could offer you

Get a personalised indication of how much you could borrow in less than 10 minutes.
It won't impact your credit score.

Get an Agreement in Principle

Step 2: Ready to apply for your new mortgage?

Apply online today or contact us if you'd like support.
Save progress and come back whenever you like.

Start your application now

Or use our calculator to find out how much you could borrow

Get a rough idea of how much we might be able to lend you, see our rates, the monthly payments and find out about any fees involved.

Use our mortgage calculator

You could buy your first home with just a 5% deposit

With our new range of 95% mortgages, you could be buying your first home sooner than you imagined.

Exclusions & eligibility criteria apply. Supported by the UK Government's mortgage guarantee scheme.

Find out more

What is a first time buyer mortgage?

First time buyer mortgages are for people who are new to the housing market.

Generally, you are considered a first time buyer if you’re buying a property you plan to live in as your main residence and you’ve never owned a property before.

You can learn more about first time buyer mortgages in our FAQs
Alternatively, if you're completely new to mortgages, you can find out more about what mortgages are and how they work

Do first time buyers pay Stamp Duty?

If you’re a first time buyer, you could get a discount on Stamp Duty, depending on where in the UK you are buying.

For example, in England and Northern Ireland you won’t need to pay any Stamp Duty if the house you’re buying costs £300,000 or less.

More information on Stamp Duty and who pays it

First time buyer schemes

We have qualified mortgage advisers available to help answer any questions and guide you through the process.

95% mortgages

A mortgage with as little as a 5% deposit

Saving money for a mortgage deposit can be tricky. Therefore, a good option for buying a property may be a 95% mortgage which allows for a deposit as low as 5%.

Exclusions & eligibility criteria apply. Supported by the UK Government's mortgage guarantee scheme.

Cashback mortgages

£150-£1000 cashback on selected mortgages (criteria applies)

If you select a cashback mortgage, we'll give your solicitor £150-£1000 cashback on the day you drawdown your mortgage. The amount of cashback is dependent upon the products available and the mortgage you apply for.

This offer can be changed or withdrawn at any point. Early repayment charges may apply. Max loan to value (LTV) of 90%.

Green mortgages

Go green and you could save money on your mortgage

Our guide for first time home buyers

It's an exciting time but it can also be quite stressful. Don't worry, we can give you as much help and mortgage advice as you need.

We have a first time buyer cheat sheet which helps you understand what to expect as you go through the home buying process. It also has great tips to help you make the big move.

Alternatively, we have a simple guide to help you apply for a mortgage and buy your first home.

Our first time buyer guide

5 chances to win £5,000 Cash

Enter our free prize draw using the online entry form for a chance to win one of our 5 prizes of £5,000 in cash.

Closing date 16th May 2022. One entry per person. Five prizes available – one prize per winner. UK residents & over 18s only. Excludes Northern Ireland.

Terms and conditions apply

Enter now

First time buyer mortgages – Frequently asked questions

What is a first time buyer?

A first time buyer is someone who has never owned a residential property in the UK or abroad and who plans to live in the property they want to buy. If you’ve inherited property or land, you won’t be classed as a first time buyer.

This means that any government first time buyer schemes (such as Stamp Duty discounts or the mortgage guarantee scheme) will only be available if you have not owned property or land previously.

As a first time buyer how much deposit do I need?

With NatWest, the minimum amount you would need to contribute towards the purchase price of the property is 5% (so, a 95% loan-to-value mortgage with a 5% deposit). This minimum mortgage deposit may differ depending on what type of mortgage you are looking for.

Some first time buyers are able to take advantage of gifted deposits, from a parent or guardian for example, to help cover the cost of their deposit.

Find out how much you could borrow

What if I am a first time buyer but the person I am buying with isn’t?

Can I get a first time buyer mortgage and rent out?

How do I apply for a first time buyer mortgage?

Use our mortgage calculator to get an idea of how much you could borrow, see our rates, the monthly payments and find out about any fees involved in a first time buyer mortgage.

Then, you could get an Agreement in Principle which provides a personalised indication of how much you could borrow. You could use this to show your estate agent that you're a serious buyer and put in an offer on a property.

Once you've had your offer accepted, you can then apply for a mortgage with NatWest.