Help to Buy improves first time buyer mortgage choice.

Since the launch of the help to Buy initiative, first time buyers are finding that their choice of available mortgages has greatly improved.

It is not just help to buy deals that are giving hope to those wanting to climb on the property ladder. Many lenders not signed up to the scheme are also releasing competitive high LTV mortgages, and these are giving help to buy products a run for their money.

If you are looking to buy your first home, now could be the right time.

• Property prices are predicted to rise so its a good idea to purchase your home while prices are at lower levels.
• Mortgage rates are set at historic lows. This is not predicted to last too much longer, so grab a great deal while you can.
• There are more deals available for lower deposit buyers. Mortgage choice is the best it has been in over 5 years.

Search the market for the best deal available for your circumstances.

If you do decide to go ahead and buy a house you should be looking for the most competitive deal on offer. This sounds easy, but its actually more complex than you think.

Its not a question of just finding the mortgage with the lowest rate there are other factors to consider.

While a low rate keeps repayments low, cheap rate deals often come with a sting – that is a high fee and tight lending criteria.

With rates, fees, incentives and lending criteria to compare, working out which is the most affordable deal can be a tall order. Making a mistake with your finances could end up costing you dearly, so you are strongly advised to seek the help of a mortgage expert to help you work out which mortgage you should be going for.

For impartial and independent advice contact an adviser at Deal Direct

To avoid ending up with a more expensive mortgage call 0800 048 8828.