Mortgage Help for First Time Buyers

With our Online Cash Lifetime ISA, you can save up to your LISA allowance each tax year (£4,000 for the current tax year) and the government will give you a 25% bonus on top of your savings every year, bringing you that bit closer to owning your own home. Saving for a deposit can be a big hurdle, so this could be a handy boost to help you onto the property ladder.

A LISA is only available if you are aged between 18-39. You can withdraw money from your LISA to buy your first home after 12 months from your first payment in. Any other withdrawals before the age of 60 would incur a 25% government withdrawal charge, which would mean you’d get back less than you paid in.

If you need help with some or all of your mortgage deposit, we accept gifted deposits, as long as they are given by a family member. We will need to review any gifted deposits, so you must make sure you tell us of any support you’re receiving when you submit your mortgage application.

A longer mortgage term could allow you to spread the cost of your mortgage further to make your monthly payments more manageable. It’s worth noting that over the long term you will have to pay more interest, but the lower month to month costs could make it an option if you’re looking for help to buy a home.