First time buyers

Buying your first home

Online mortgages are provided by NatWest

NatWest and Royal Bank of Scotland are part of NatWest Group and offer the same mortgage products and rates when you speak with a mortgage professional. If you're confident to choose a mortgage product without advice, online mortgages are available to customers via the NatWest website

Want advice about your mortgage? You can make an appointment to speak with a Royal Bank of Scotland mortgages adviser.

Step 1: Find out what NatWest could offer you

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

You don't need to be a NatWest customer to get an Agreement in Principle (AIP), and you're not committed to having a mortgage by getting an AIP.

Step 2: Apply for your mortgage online with NatWest

  • Apply online with NatWest or contact us to make an appointment to speak to a Royal Bank of Scotland mortgage adviser.
  • Save your application progress online and come back whenever you like.

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.

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.

Your step by step guide to buying your first home

Can I take advantage of a first time buyer scheme?

Quite possibly. To help make getting onto the housing ladder easier, the UK government have outlined various home ownership schemes. Not every scheme will be right for everyone, so it's important to consider both pros and cons, to understand what could work for you.

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All of these schemes are subject to eligibility criteria for both the borrower and the property being purchased.

Mortgages with just a 5% deposit

With a 95% mortgage, you could be buying your new home sooner than you imagined. Exclusions & eligibility criteria apply. Supported by the UK Government's mortgage guarantee scheme.

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Shared ownership

With shared ownership, buyers take out a mortgage for a portion of a property and then pay rent on the remaining share.

Over time, they can increase their percentage of ownership and generally, can eventually become the outright owner.

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Which type of mortgage is best for first time buyers?

  • There are different types of mortgage, and mortgage rate, that you could consider. There's no one 'best' type for first time buyers - it will come down to what works best for you.
  • You can learn more about mortgage rates, like 'fixed' and 'tracker', as well as different types of mortgage, on our mortgage comparison webpage.

Do first time buyers pay land and buildings transaction tax?

Land and buildings transaction tax (LBTT) replaced Stamp Duty in Scotland in 2015. It applies to residential and commercial land and buildings transactions and becomes payable on properties worth over £145,000.

Other mortgage options

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.

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Cashback mortgages

£150-£750 cashback on selected mortgages (criteria applies)

If you select a cashback mortgage, we'll give your solicitor £150-£750 cashback on the day you drawdown your mortgage. The amount 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%.

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Green mortgages

Go green and you could save money on your mortgage

Discounted mortgage rates when purchasing an energy efficient home (with a valid Energy Performance Certificate rating of A or B) with a green mortgage.

Available on select products. Product fees may apply.

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First time buyer mortgages frequently asked questions

Top tips for first time buyers

Be careful if you're transferring any money

Buying a home involves significant sums of money. Be aware of scams, particularly when you pay your mortgage deposit.

It's wise to be sceptical of anyone asking you to transfer money, even if it appears to be from your conveyancer. If you're at all suspicious, or feel you are being pressured to transfer any funds, contact your conveyancer directly over the phone, using a number you are familiar with or from their website, and ask them to verbally verify the details.

Need some help or want to speak to a mortgage professional?

Call us

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