Compared to a conventional loan, a First Time Buyer loan type has less of a down payment and is easier to qualify for. FTB type of mortgage is great for first-time homeowners as you can put down as little as 5% of the sales price and have different types of Government scheme which might be beneficial for a lot of first time buyers.
We recommend visiting a mortgage broker for first-time mortgage buyers. Mountview Financial Solutions is a professional mortgage advisor in London who helps you to choose the right type of mortgage.
Original Source: https://www.quora.com/Which-type-of-mortgage-is-best-for-me/answer/Ranjit-Singh-3890