Your first home? Here’s how to make your mortgage application count.
Buying your first property can feel like a minefield — deposits, credit scores, lender jargon, and estate agent pressure. But getting a mortgage as a first-time buyer doesn’t have to be overwhelming. With the right guidance, it’s just a process — and I’ll walk you through it.
🏦 What Is a First-Time Buyer Mortgage?
A first-time buyer mortgage isn’t a special product — it’s just a standard mortgage tailored to someone who’s never owned property before. You’ll still need to prove you can afford it, save a deposit, and meet lender criteria.
Some lenders offer first-time buyer exclusive deals, including:
- Lower deposits (from 5%)
- Cashback offers
- Free valuations or legal support
- Incentives for new builds
💰 How Much Deposit Do I Need?
In most cases, you’ll need at least 5% of the property value. So for a £200,000 home, that’s £10,000.
A 10–15% deposit opens up better rates, and 20%+ gives you more flexibility with lenders.
💡 If your deposit is coming from family, make sure it’s a gift, not a loan. Lenders will ask for a gift letter.
🧠 What Lenders Look For
To approve your mortgage, lenders assess:
- Income (employed, self-employed, benefits)
- Credit history
- Debt-to-income ratio
- Deposit amount
- Affordability stress testing
Every lender is different — and just because one says no, it doesn’t mean others will.
🧾 Documents You’ll Need
✅ 3 months’ bank statements
✅ Payslips or accounts if self-employed
✅ Proof of deposit
✅ ID and proof of address
✅ Credit report (optional, but helpful)
❓ What Schemes Are Available for First-Time Buyers?
- 5% Deposit Mortgages
- Shared Ownership
- First Homes Scheme
- Help to Buy (Wales or legacy England)
- Guarantor Mortgages (family help with income or deposit)
These can make a big difference if your deposit or income is limited.
💬 Let’s Get You Mortgage-Ready
No matter your income, credit score or deposit size — there’s usually a way forward. I’ll help you understand what lenders want, what’s realistic, and how to secure the keys to your first home.
✅ Tailored advice from a broker who speaks your language
✅ Honest affordability checks before you apply
✅ Access to exclusive first-time buyer deals