We're here for first time buyers
We know brokers are the first choice for first time buyers
First time buyers make up 50%* of UK mortgaged house sales, and we recognise the important role brokers play in their journey. Our proposition has been developed understanding the challenges and pain points first time buyers face on the journey to home ownership.
*CACI monthly mortgage data for 2023 (excl. remortgages)
Why choose Coventry for intermediaries?
- We offer a range of LTVs, including first time buyer specific products up to 95% LTV, with no fee product options available.
- We offer up to £500 cashback on selected first time buyer specific products, dependant on incentive availability.
- First time buyers purchasing in the CV postcode area could be eligible to receive £1,000 cashback, find out more.
- We've extended who can make a gift: your clients deposit can now also come from aunts, uncles and adopted children.
- We allow second charges on family gifted deposits.
- We'll run a soft credit check at AIP stage. The hard credit check will only be completed once a full application is submitted.
- We'll accept probationary periods, providing the applicant can prove six months employment in a similiar role.
Want the latest insights and forecasts on the first time buyer market?
Download the latest edition of the FTB Economy Report
Inside, we:
- Investigate why the role of a broker is crucial in assisting aspiring homeowners,
- Delve deeper into the current challenges faced by FTBs,
- Explore what lies ahead for this vital segment of the UK housing market.
First Time Buyer Client Guide
Buying your first home is no easy feat. As a broker you play a huge role in making the dream of owing a home a reality. To help we’ve created a handy guide for you to give to your clients who need that extra support.
The guide covers:
- The different types of mortgages and repayment options
- A step by step guide to buying a house
- Costs that first time buyers need to consider
