First-Time Buyer with a 5% Deposit in the North East
£178,000 · 35 years · 5.09% fixed 5 yrs. A 27-year-old nurse in Newcastle had saved a 5% deposit on a new-build starter home.
The Client
27-year-old nurse
The Challenge
A 27-year-old nurse in Newcastle had saved a 5% deposit on a new-build starter home. She was a first-time buyer with a good credit record but no experience of the mortgage process and was overwhelmed by the range of products available. Her employer's NHS bank account gave her some lender options but not necessarily the best rates.
Our Solution
Doulton assessed the full first-time buyer mortgage market including Mortgage Guarantee Scheme products. A 95% LTV mortgage with a five-year fix provided certainty. The application was completed with full guidance through each step - from decision in principle to exchange.
The Outcome
First home purchased. Five-year fixed rate providing complete certainty during the early years of homeownership. Client has since referred two colleagues to Doulton who were in similar positions. Key highlights: 95% LTV first-time buyer mortgage placed; Five-year fix - certainty during early homeownership; Full guided support throughout the process - first-time buyer confidence built.