First Time Buyer Mortgages
Buying your first home is one of the most exciting milestones in life. We're here to make the process as smooth and stress-free as possible, guiding you every step of the way.
Getting on the Property Ladder
As a first time buyer, the mortgage market can seem overwhelming. With hundreds of products available from dozens of lenders, knowing where to start is the biggest challenge. That's where we come in.
Our expert advisers search the whole market to find the mortgage that best suits your circumstances, your budget, and your plans for the future. We explain everything in plain English — no jargon, no confusion — and we're with you from your first enquiry right through to getting the keys to your new home.
How Much Can You Borrow?
Most lenders will allow you to borrow between 4 and 4.5 times your annual income, though some specialist lenders may go higher depending on your circumstances. The amount you can borrow will also depend on your outgoings, credit history, and the size of your deposit.
As a general guide, the larger your deposit, the better the mortgage rates available to you. Most first time buyers aim for a minimum deposit of 5–10% of the property value, though 15–25% will unlock significantly better rates.
Government Schemes for First Time Buyers
Help to Buy: Equity Loan
The government lends you up to 20% (40% in London) of the cost of a new-build home, so you only need a 5% deposit and a 75% mortgage.
Shared Ownership
Buy a share of a home (between 25% and 75%) and pay rent on the remaining share. You can buy more shares over time.
Lifetime ISA
Save up to £4,000 per year and receive a 25% government bonus (up to £1,000 per year) to use towards your first home.
First Homes Scheme
Eligible first time buyers can purchase a home at a discount of at least 30% compared to the market value.
What We Do For You
Documents You'll Need
When applying for a mortgage, lenders will typically require:
Your home may be repossessed
Your home may be repossessed if you do not keep up repayments on your mortgage. The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Ready to Take Your First Step?
Get in touch today for a free, no-obligation consultation with one of our first time buyer specialists.