What is the best term for a first-time-buyer?

May 29, 2024

best mortgage term for first-time buyers

Struggling to decide whether you should opt for a shorter or longer mortgage term as a first-time buyer?

Fortunately, the professional and down-to-earth team at UKMC is on hand to explain how first-time buyers can choose the most suitable term to meet their specific requirements.

What is the average mortgage term for first-time buyers?

According to TSB Bank, the average mortgage term for first-time buyers is now 32 years as of 2023 – an increase of two years from 30 in 2021.

Can first-time buyers get a 35-year mortgage?

Yes, not only can first-time buyers easily obtain a 35-year mortgage in the UK, but they’re actually becoming increasingly popular.

Following surging house prices and borrowing costs, almost one in five first-time buyers choose a mortgage term of over 35 years at the end of 2023.

This is based on data published by UK Finance, the leading industry body for financial services in the UK, in their Household Finance Review 2023 Q4.

This figure is particularly noteworthy as just one in ten first-time buyers were opting for more than a 35-year mortgage term in 2022.

What is the best mortgage term for first-time buyers?

In many cases, the default mortgage term is 25 years.

However, more lenders are offering mortgages to first-time buyers with terms of 35 or even 40 years.

While mortgages with longer terms can make repayments more affordable and therefore support first-time buyers with becoming a homeowner, they can also slow down the build-up of equity.

This is because a large part of the first-time buyer’s monthly repayments will be going towards paying off the capital on the loan, rather than the interest.

It’s also important to remember the longer the mortgage term you choose, the older you’ll be when making the final repayment.

As the best mortgage term for first-time buyers will vary depending on their individual personal and financial circumstances, it’s always a good idea to discuss your options with an experienced mortgage advisor, like UKMC, first.

Need help exploring your mortgage options?

At UKMC, our experienced team of mortgage advisors understands that buying your first home can feel like a never-ending job of ticking boxes, but we want to change this.

No matter whether you want to learn more about picking the best mortgage term for first-time buyers or the benefits of choosing a certain mortgage scheme, rest assured, our team of advisors will clearly explain your options (jargon-free!) and guide you every step of the way.

Instead of simply going through the motions, we’ll help you to feel fully informed and involved in the home-purchasing process, ensuring you make the most suitable first-time buyer mortgage decisions for you, your family, and your future.

To find out more about our services or the mortgage products available to you as a first-time buyer, please don’t hesitate to book your appointment with our friendly team today.

You can also schedule an appointment by calling us on 01925 573328, using our online contact form, or emailing us at

For those local to Cheshire or even further afield, we also welcome in-person visits to our Warrington office.

Regardless of how you choose to get in touch, we hope to hear from you soon!


The UK Mortgage group is authorised and regulated by the Financial Conduct Authority.

Your home may be repossessed if you do not keep up repayments on your mortgage.