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First Time Buyers

We understand that every first-time buyer’s circumstances are different, which is why our experienced team takes a flexible, case-by-case approach to supporting brokers and their clients.

  • At a glance
    • First time buyers
    • Up to 90% LTV nationwide
    • Up to 95% LTV in Heartland area
    • Gifted deposit accepted (from family member)
    • First Time Buyer Buy To Let considered
    • Nationwide lending
  • Eligible applicants

    Applications may be considered where the applicant:

    • Is eligible for lending nationwide
    • Requires a maximum LTV of 90% nationally or 95% within the Heartland area
    • Has a gifted deposit from a family member
    • Is applying under a Joint Borrower Sole Proprietor arrangement
    • Is a First Time Buyer purchasing a Buy To Let property
  • We are unable to consider

    Applications will not be considered where the applicant:

    • Has previously owned a property or held a mortgage 
    • Requires borrowing above 90% LTV 
    • Is a foreign national without Settled Status, Indefinite Leave to Remain, or an acceptable Visa (please contact us to discuss)
    • Has credit impairment outside our lending criteria (please contact us to discuss)
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Your eligible deposits held by a UK establishment of Penrith Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.

Further information is available here »»
(PDF Version)

Or visit www.fscs.org.uk.

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