Expert first-time buyer mortgage hunters for over 25 years
You’re new to mortgages, but we’re not. And, did you know that, with our vast network of estate agencies and lenders, we can even help you find a property as well as a great mortgage deal.
Mortgages for first-time buyers
Taking your first step onto the property ladder isn’t always plain sailing but we know the right lenders to approach. Small deposit? Limited credit history? Not a problem. We’ll find the right deal to get you off to the best start, whatever your situation.
Save time and money on your search
Tired of scrolling property websites? We hear you. We can work with estate agents to help you find the right nest. When you're ready, we'll be there to help you find the best mortgage deal, too.
A helping hand on the ladder
Shared Ownership helps you move towards homeownership. You’ll own between 25-75% of the property and pay rent on the rest. Good news – you’ll need a lower deposit, typically 5% of your home's value. There are criteria to qualify for Shared Ownership, and we will talk you through all of that.
Three steps to a great deal
We give a hoot. We’re making the complex world of mortgages a happier place for first-time buyers.
What is a First-Time Buyer?
A first-time buyer is someone who is purchasing their first residential property who has never owned a home before, either in the UK or abroad. This includes those who have never inherited property or been named on a mortgage. Being a first-time buyer often comes with advantages, such as exemption from Stamp Duty on properties up to £300,000 in England and Northern Ireland.
However, it’s important to note that if you're buying with someone who has previously owned a property, you won’t qualify as a first-time buyer, even if it’s your first purchase. First-time buyer status can improve your chances of getting onto the property ladder with access to specialist mortgage products and government schemes.
Step-by-Step Guide for First Time Buyers
There are some key steps every first-time buyer should follow to make the journey to homeownership smoother and more manageable:
- Speak to an advisor. A mortgage advisor will review your income, expenses, credit score and overall affordability. They will then take this information and provide you with an estimate of what you can afford.
- Save for a deposit. Typically, you’ll need a deposit worth at least 5%–10% of the property value.
- Get a Mortgage Agreement in Principle (AIP). This gives you an idea of what a lender may offer and shows estate agents you're serious.
- Find a property. Start your search for your perfect home and attend viewings.
- Make an offer. Once you’ve found the right home, make a formal offer through the estate agent.
- Apply for a mortgage. Finalise your mortgage application with a lender.
- Instruct a solicitor. They’ll handle legal paperwork and property searches.
- Get a survey. A property survey checks for structural issues, helping identify any potential problems before you commit to the purchase.
- Exchange contracts. Pay your deposit and agree on a completion date.
- Complete and move in. The sale is finalised, and you get your keys to your new home.
Frequently Asked Questions
As a first time buyer, we understand that everything is new and you may have a lot of questions. We have a collated a list of the most common questions by first time buyers and added them below.
Start by checking your credit score and reviewing your financial situation. Save a deposit, typically we would recommend at least 5% of the property price. Then you need to gather necessary documents like proof of income, identification, and bank statements. In order to make this process as smooth and simple as possible, speak with one of our mortgage advisers and explore the best deals available. Obtaining an Agreement in Principle (AIP) early on can also demonstrate to sellers that you’re a serious buyer.
A mortgage is a loan used to purchase a home. You borrow a portion of the property’s value and repay it in monthly instalments, including interest, over an agreed term, often around 25 years. As a first-time buyer, you might qualify for mortgage deals with lower deposit requirements or special rates designed to make getting on the property ladder easier.
Most first-time buyers need a deposit of at least 5% of the property's value. However, a larger deposit (10–20%) can unlock better mortgage rates and reduce your monthly repayments. Some lenders and schemes may allow low-deposit or even 100% mortgages if a family member supports your application.
To allow you to borrow more, you could apply jointly with a partner or family member, combining your incomes. Other options include using a larger deposit, opting for a longer mortgage term, or exploring government schemes to boost your borrowing capacity.
An Agreement in Principle (AIP) is a lender’s estimate of what you might be able to borrow, based on an initial assessment of your finances. Whilst it’s not legally binding, it can help when viewing or offering on properties, as it shows sellers that you’re a serious buyer. A mortgage offer is a formal agreement from the lender confirming they’ll provide the loan after assessing your full application and documents.
As of April 1, 2025, first-time buyers in England and Northern Ireland pay no Stamp Duty on properties up to £300,000. For homes priced between £300,001 and £500,000, 5% is charged on the portion above £300,000. Properties over £500,000 don’t qualify for first-time buyer relief and are subject to standard Stamp Duty rates.
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