Your Move is offering a special mortgage for first-time buyers. The rate is fixed at 5.39 per cent (APR 6.61 per cent) for two years and borrowers can obtain up to 95 per cent of the purchase price or valuation, whichever is the lower.

The good news is that there are no arrangement fees, no valuation fees and no early redemption charges to pay if you want to change your mortgage at the end of the two years. A Your Move spokesman said: "We are finding that first-time buyers often want a straightforward mortgage that is easy to understand."