First Time Buyer Mortgage
Get the keys to your own front door
Buying your first home is exciting but can also be overwhelming. We’re here to help you secure your first-time buyer mortgage, so you have one less thing to worry about.
Your first mortgage is probably your largest financial commitment so far, so it’s essential to get it right. We’ll guide you through every step. Our expert advisers have sourced mortgages more times than they care to remember, so you can trust they know what they’re doing. You’ll be in safe hands.
Your first-time buyer mortgage
Whatever your first home purchase, from a leasehold apartment to a family home or a new build, there’s a mortgage for you. And as we have access to lenders across the mortgage market, we can help you find it. We’ll manage the whole process, from sourcing your mortgage to submitting and progressing your application. It’s the easiest way to secure a first-time buyer mortgage! Find out how simple the process is here.
If you’re receiving financial help to buy your first home via a shared ownership or shared equity scheme, we have specialist expertise to help with this. You can learn more here.
Agreement in principle
We recommend getting a mortgage agreement in principle before beginning your home search or making an offer on a property. This document indicates how much a lender is prepared to lend you based on a credit check. An agreement in principle, gives you the confidence to view properties within your budget and demonstrates to estate agents you’re a viable buyer. We’ll help you secure an agreement in principle as the initial step in your first-time buyer mortgage journey.
To realise your dream of your first home, get in touch for a free, no-obligation chat with a mortgage adviser.
First Time Buyer Mortgage FAQs
How much can I borrow as a first-time buyer?
The amount you can borrow will depend on many factors, including your income, the value of the property you are buying, and your age. Typically, lenders will consider a loan amount between four to five times your income, but some lenders will lend higher multiples for certain professions.
What deposit will I need for a first-time buyer mortgage?
The minimum deposit is usually 5%. However, a few lenders offer a 100% mortgage, although there are limitations. Generally, the higher your deposit, the better the deals you can get.
What documents will I need to apply for a first-time buyer mortgage?
You’ll need identification, proof of address, your last three to six payslips and bank statements for the past three months. If you’re self-employed, you’ll have to provide your accounts or SA302 tax calculation.
How can I improve my credit score?
Firstly, check your credit file to ensure all your details are correct, and report any mistakes to the credit reference agency. You can check your credit report here [link to external site – ask David for details].
