Best 5-year fixed rates for first-time buyers.
The most popular fix length for first-time buyers — five years of payment certainty while you build equity in your first home. Ranked nightly.
| Lender | Initial rate | Monthly | Fixed until | Then | Product fee | |
|---|---|---|---|---|---|---|
| 1 H HalifaxBest rate | 4.26% | £1,356on £250,000 | Sept 2031 | 7.24% | £999 | See full deal → |
| 2 L Lloyds Bank | 4.26% | £1,356on £250,000 | 5 yrs | 7.24% | £999 | See full deal → |
| 3 B Barclays | 4.34% | £1,367on £250,000 | Sept 2031 | 5.74% | £899 | See full deal → |
| 4 L Lloyds Bank | 4.38% | £1,373on £250,000 | 5 yrs | 7.24% | None | See full deal → |
| 5 H Halifax | 4.38% | £1,373on £250,000 | Sept 2031 | 7.24% | None | See full deal → |
Monthly payments illustrated on a £250,000 repayment mortgage over 25 years; fees not added to the loan. Rates shown are for comparison — full lender criteria apply.
For most first-time buyers a 5-year fix is the default worth testing against shorter alternatives. You get certainty on monthly payments through the early years of ownership — when budgets are typically tightest and other costs (maintenance, furnishing) surprise most — and you avoid a remortgage arriving before your equity position has moved much. At the end of five years, many buyers have also progressed in income enough to refinance from a stronger position.
The nuance specific to first-time buyers is that a 5-year fix on your first home may run into the years when you outgrow it. Most fixes are portable — you can carry the product to a new property — but porting requires a fresh affordability assessment and any top-up borrowing is priced separately at whatever rates apply then. If there’s a realistic chance you’ll move in years three or four, map out what porting would mean before committing purely on headline rate.
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Frequently asked questions
How these tables work, and how to choose between the deals on them.