First-Time Buyer Mortgages
Let’s make your first home purchase smooth, smart, and successful.
Buying your first home is exciting but it can also feel overwhelming. Our aim is to guide you with clarity and support, helping you feel more confident throughout the process.
As a first-time buyer, you may have lots of questions about deposits, mortgage options, and how much you can borrow. We’ll guide you through every step, from understanding your budget to securing the right mortgage deal for your needs.
We’ll explain everything in plain English, help you avoid common pitfalls, and make sure you feel confident about your choices. Whether you're just starting to look or ready to make an offer, we’re here to support you.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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What is the first step to getting a mortgage?
Speak to a mortgage adviser to understand how much you can borrow and get a mortgage in principle before house hunting.
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What is an Agreement in Principle (AIP)?
An AIP is a statement from a lender indicating how much they might lend you, based on a soft credit check. It helps show estate agents you're a serious buyer.
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What documents do I need to apply for a mortgage?
You’ll need proof of ID, address, income, deposit, and recent bank statements. If you're self-employed, tax returns and business accounts may be required.
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How much deposit do I need as a first-time buyer?
Most lenders require at least a 5% deposit, but a larger deposit (10–20%) can help you access better rates.
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Can I get help with my deposit?
Yes, some lenders accept gifted deposits from family. You’ll usually need a signed letter confirming it’s a gift (not a loan), along with proof of funds. You may also be eligible for government schemes like Shared Ownership or First Homes.
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What costs should I expect as a first-time buyer?
In addition to your deposit, you’ll need to budget for solicitor fees, valuation fees, stamp duty (if applicable), and moving costs.
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What credit score do I need to get a mortgage?
There’s no fixed score, but a good credit history improves your chances. Check your credit report and avoid missed payments.
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Can I get a mortgage if I’m self-employed?
Yes, but you’ll need to provide at least 2 years of tax returns and business accounts to prove your income.
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Do I need insurance when getting a mortgage?
Buildings insurance is usually required by lenders. You may also want life insurance or income protection to safeguard your mortgage.
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How long does the mortgage process take?
Typically, 4–8 weeks from application to offer, but it can vary depending on your circumstances and the lender.
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Do I need a solicitor or conveyancer?
Yes, a solicitor or licensed conveyancer is required to handle the legal side of buying a home.
