For first time buyers, mortgages can seem like a huge financial burden and, if you’ve never taken out a loan as large as your first mortgage, this may be quite intimidating. Depending on the person’s credit score, however, a first mortgage can come with excellent interest rates and a good loan-to-value (LTV) ratio.

The government have schemes in place to assist first time buyers, such as help-to-buy, which in essence gives the buyer a helping hand to stump up the cash.