Bridging loans typically have higher interest rates than traditional mortgages, primarily due to their short-term nature and higher risk. As a first-time buyer, the rates offered may be influenced by factors such as your credit history, the loan amount, the value of the property, and your exit strategy. While being a first-time buyer doesn't inherently mean you will pay higher rates, your lack of prior property-buying experience and possibly thinner credit history can impact the terms offered to you. Comparing offers from multiple lenders can help ensure you receive the best possible rate.