The most inexpensive areas for first-time buyers

Following the end of stamp duty relief in England and Northern Ireland, those looking to purchase their new home will be required to pay 5% on properties costing between £300,000 - £500,000, with no relief over £500,000 for first-time buyers.

According to Rightmove, a typical first-time buyer will be paying £940 for their mortgage, compared with £590 per month back in 2020.

With these financial obstacles in mind, we have detailed the cheapest areas that may appeal to first-time buyers who are keen to get onto the property ladder.

Area Average asking price for a first-time home buyer
Kilmarnock, Ayrshire £84,325
Greenock, Inverclyde £88,862
Grimsby, Lincolnshire £93,427
Blackpool, Lancashire £93,711
Middlesbrough, North Yorkshire £95,473
Hartlepool, Tees Valley £99,570
Paisley, Renfrewshire £99,570
East Kilbride £100,814
Ayr, Ayrshire £101,391
Burnley, Lancashire £102,848

To find out how much your monthly payments will cost you, take a look at our mortgage calculator.

Recent posts

Throughout this past week, lenders have continued to reduce their mortgage rates giving borrowers in the UK some welcome news following the change in global tariffs under US President, Donald Trump.

Did you know that buying a house, or relocating is in the top 10 most stressful life events?

Stress of course is an unavoidable part of life and there are many reasons why people experience stress, not just buying a house!

There are lots of effective ways to manage and reduce stress, check out our tips to help you.

Are you looking to purchase your first home but unsure where to begin? Here are some tips to get you started.

Choosing which fixed rate to go for has been a dilemma for many of our clients so far this year. There really isn’t a right or wrong answer, but below we will look into the pros and cons of a two-year and five-year to help you make the right decision for you.

Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.

Call us for more information: 01628 507477 or email: team@mortgagerequired.com.

According to Rightmove, a whopping 500,000 UK homebuyers are rushing to finalise their home purchase before the new Stamp Duty rules change in April.

The UK government is introducing new rules for Energy Performance Certificates (EPCs) that will impact landlords. Here's a summary of the key changes

Choosing to buy a house is one of the biggest decisions you are likely to make in your lifetime. There are many factors that influence a house purchase, these include: finances, housing market conditions, and mortgage rates.