A First Time Buyer’s Guide to Getting a Mortgage in 2025
How do first time buyers get a mortgage in the UK?
To get a mortgage as a first time buyer in the UK you usually need at least a deposit of 5-10%, proof of income and a good credit history. However, there are many individual circumstances where you can get a mortgage with bad credit, and more recently mortgage lenders have launched 0% deposit mortgages. Chose a Mortgage Broker who is able to search across many lenders to find the most suitable mortgage based on your circumstances. There are many products that could help you such as Help to Buy Schemes, Shared Ownership and options around gifted deposits. If you are a young professional, then some lenders look at this more favourably.
Who is this guide for?
This article is for anyone looking to buy their first home and take that first step onto the property ladder.
- Single buyer or co-habitants
- Anyone getting help from family
- If struggling with bad credit
- Low Affordability
- Wanting a fast mortgage in principle
How First Time Buyers Get a Mortgage: Step-by-step.
1. Find Out Your Affordability
You may have heard the phrase affordability calculator. You can use these to help, but remember, these are only a guide. Most lenders offer between 4.5-5.5x your income. You can quickly do an affordability check with a Mortgage Broker in under 15 minutes.
2. Get Your Documents Ready
- Payslips – Preferably most recent 3 months
- Identification and Proof of Address
- Bank Statements – Most recent 3 months
3. Understand Your Credit Score
Quick to get your credit report, and a Mortgage Broker can explain it. There are a few key things you can do to improve your credit score, such as:
- Pay off small debts
- Register to vote
- Pay your loans on time
The Mortgage Broker can do a soft credit check for you in order to get you a Mortgage in Principle.
4. Get a Mortgage in Principle
A Mortgage in Principle makes you a confident buyer, knowing what mortgage you can get for your exact circumstances. It shows estate agents you are a serious and active buyer.
A Mortgage in Principle lasts anywhere from 90 days to 6 months, and The Mortgage Broker can get you one for FREE within 15 minutes.
What Is a Mortgage in Principle
A mortgage broker finds the best possible rate for your exact circumstances.
5. Compare the Market for the Best Mortgage Deal
Do not just go to your bank as they can only offer a set number of products, that they have available themselves. There are over 130 mortgage lenders in the market, which offer over 25,000 mortgage products and these can be searched in minutes by a Mortgage Broker.
6. Apply and then Track your Mortgage Application
If you use a mortgage broker, they can handle all the admin, packaging and communicate with the lenders to ensure you are regularly updated once your application is in. This isn’t just until your mortgage is secured, this is post completion too where your rate can be tracked, and you can be comfortable in the knowledge that you are always on the right product for your circumstances.
FAQs for First Time Buyers
Can I buy with a 5% deposit in 2025?
Yes you can, there are several lenders offer 95% LTV mortgages. Mortgage rates will always vary based on your affordability and credit profile. There are now some lenders that do offer 0% deposit mortgages.
Will bad credit stop me getting a mortgage?
No. Over 8.38million people have had some sort of bad credit within the last 3 years. There are many lenders that support bad credit mortgage applications, and The Mortgage Broker have a bad credit specialist team to support your applications with missed payments, defaults, low credit scores or any other form of debt management plan.
What if my parents are helping with the deposit?
This is very common and there are plenty of options here. Whether parents, a family member or another form of gifted deposit; The Mortgage Broker can advise you on how all the different forms work. It can be a gift, loan or a guarantor mortgage.
Case Study: 95% LTV Mortgage approved for couple with adverse credit.
The circumstances:
The customers approached The Mortgage Broker after another mortgage broker was unable to find a lender for them. This was mainly due to one applicants credit history which stemmed from a destressing life event. The customers needed a first time buyer mortgage with a 5% deposit.
There were a couple of challenges on this case:
- Previous adverse credit, including defaulted accounts.
- 5% deposit.
The Mortgage Broker Solution
After thorough research and discussions with lenders, The Mortgage Broker were able to secure a mortgage solution that met all of the client’s objectives. Despite the limited number of lenders allowing a First Time Buyer mortgage with adverse credit and 5% deposit. We successfully placed these customers with a lender that makes their lending decision on the overall credit score. Since one of the applicants had a good credit score, this helped balance out the score and pass criteria with the lender.
The Result:
The lender agreed to a First Time Buyer mortgage of £237,500 on a property price of £250,000. The customers have now purchased a home which they can live with their daughter.
| New Lending | Property Value | Mortgage Amount | Loan to Value | Term | Interest Rate | Payment Type | Product Type | Monthly Payment |
| Mortgage | £250,000 | £237,500 | 95.00% | 25 | 5.18% | Repayment | 2 Year Fixed | £1,411.98 |
How Did a Mortgage Broker Help?
This solution not only provided the customers with the property they wanted to purchase, it also restored their confidence, by understanding the context of the credit issues and leveraging a lender with flexible criteria. The Mortgage Broker were able to turn a declined application into a successful outcome. Demonstrating the value of a patient and knowledgeable broker.
Tools The Mortgage Broker Offer First Time Buyers:
- Instant Mortgage in Principle
- Instant Affordability Checks
- Self Help Calculators – Affordability, Repayments and Stamp Duty
- Live Rate Checker
- A Wide Market Search
- Real Advice, Real Support and Transparent, Trusted Outcomes
Contact The Mortgage Broker and Get Started Today
Whether you are just starting your journey into finding the right solution for you, or you are actively searching for that first step onto the proper ladder, The Mortgage Broker can help you.
Speak to one of our expert first time buyer brokers today.
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