Updated 14th October 2025
The Mortgage Broker helps first time buyers understand each step of the mortgage process and is extremely experienced in getting our customers onto the property ladder. Our advisers are CeMAP qualified and FCA regulated with over 2,500 five star Trustpilot reviews and a 5/5 Google rating. You get clear guidance, secure handling of your information and support from first conversation through to getting your keys.
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Quick take for first time buyers
Buying your first home should feel exciting, not confusing. Use this guide to see the full journey, what to prepare, costs to expect and the common pitfalls to avoid. Speak to us early and move forward with confidence.
First Time Buyer Mortgage Process: Step by Step
- Talk to us so we can check affordability and arrange a Mortgage in Principle. This is often a soft check and does not affect your credit score.
- View homes and make an offer. When your offer is accepted we confirm the most suitable lender and product for your needs.
- Instruct a conveyancer or solicitor. You receive a welcome pack. Many buyers wait to start searches until the mortgage offer is issued.
- Submit your full mortgage application. We organise the valuation and manage documents with the lender.
- Protection review. We discuss Life Insurance, Critical Illness Cover and Income Protection so your home and income are protected.
- Receive your mortgage offer. Your solicitor issues the initial contracts.
- Begin property searches. Once searches start the fees are usually non refundable.
- Agree a completion date. Your solicitor collects your deposit and confirms all fees.
- Exchange contracts. You are now legally committed to the purchase.
- Complete and collect your keys. Welcome to your new home.
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Soft search. No impact on your credit score.
How to get a mortgage for the first time
Get mortgage ready TIPS
- Deposit Aim for from 5 percent to 10 percent of the purchase price. A higher deposit can improve choice and price.
- Credit file Check for any errors and tidy old addresses up. Small fixes help.
- Documents Prepare photo ID, proof of address, three months of payslips, P60, three months of bank statements, and proof of deposit. Self employed clients usually need two to three years of SA302s and tax year overviews.
- Gifted deposit We guide you on the gift letter and source of funds checks.
Get your Mortgage in Principle
Estate agents often ask for this before viewings or offers. It gives a realistic guide to what you can borrow. We can run a Mortgage in Principle with just your ID and income information.
Start your Mortgage in Principle
Make an offer and apply
- We confirm the lender and product type such as fixed or variable and submit your application.
- We manage the valuation and keep you updated throughout.
Conveyancing and searches
- Your solicitor checks title, boundaries and local or environmental issues.
- You can wait to start searches until your mortgage offer is in place.
Protect your new home
- Life Insurance, Critical Illness Cover and Income Protection can be tailored to your budget – really important in case you can’t make the payments for some reason. Protect yourself, your family and your home.
- Our aim is to keep cover affordable and useful from day one.
Exchange and completion
- On exchange you pay the deposit and both sides commit to the contract.
- On completion your lender releases funds and you get the keys.
Why First Time Buyers choose The Mortgage Broker
Real People. Real Advice. Our team understand the difficulties of this market.
- Specialist knowledge CeMAP qualified and FCA regulated advisers with deep experience in first time buyer mortgages.
- Extensive market access Access to a wide range of lenders and thousands of mortgage products including broker only options.
- Support for complex cases We regularly help clients with bad credit, multiple income types, new build purchases, joint applications and high value mortgages.
- Clear communication One friendly team guides you from Mortgage in Principle to completion. We chase lenders and solicitors so you can focus on your move.
- Secure handling of data Strong processes and GDPR standards across everything we do.
First Time Buyer documents checklist
- Passport or photo ID and proof of address
- Three months of payslips or two to three years of SA302s and tax year overviews if self employed
- Three months of bank statements
- Proof of deposit and gifted deposit letter if relevant
- Offer details from the estate agent
- Your solicitor details
First Time Buyer costs
- Deposit
- Valuation or survey
- Legal fees and searches
- Product or arrangement fees which can sometimes be added to the loan
- Moving costs, buildings and contents insurance, council tax and utilities
Common pitfalls to avoid
- Starting searches before your mortgage offer is issued
- Taking new credit during your application
- Missing documents or mismatched addresses
- Guessing affordability rather than speaking to an adviser early
First time buyer FAQs
Most lenders can consider from 5% to 10% of the purchase price. A higher deposit can improve your interest rate and widen lender choice. Your deposit can come from savings, a Lifetime ISA bonus, or a family gift. Some new-build and specialist schemes can help with smaller deposits. We will confirm what works for your situation. There are now a few 0% deposits!
Lenders look for on time payments, sensible use of credit and stable conduct on bank statements. Late payments, defaults or a thin credit file do not always mean no. It may reduce how much you can borrow or change which lenders will help. Simple steps: review your credit file don’t hide and don’t worry, its normal . Keep balances lower and avoid new hard searches during your application. We will match you to lenders who fit your profile.
Yes. Most lenders accept gifts from close family. You will need a simple gift letter confirming the money is not a loan, proof of the source of funds, and ID for the person gifting. If funds are coming from overseas allow extra time for checks. We will provide the exact wording your lender and solicitor need.
Have these ready:
• Photo ID and proof of address
• Last 3 months of payslips and bank statements, plus your P60
• Proof of deposit (savings statement, LISA, or gifted funds)
• If self-employed: 2 years of SA302s and tax year overviews (some lenders can work with 1 year), plus accounts if available
• Details of any credit commitments
Clear, complete documents help your application move faster.
A Mortgage in Principle can be arranged quickly. From full application to formal mortgage offer is often around 2 to 4 weeks depending on lender, valuation and documents. Conveyancing and searches typically add several weeks. Many first-time buyers complete within 8 to 12 weeks once an offer is accepted, though chains and local search times can extend this.
A Mortgage in Principle is a lender’s early view of what they could lend you based on basic details and a credit check (often a soft search). Agents may ask for it before viewings or offers. It guides your budget and shows sellers you are serious. It usually lasts 60 to 90 days and can be refreshed if needed.
Options can include Shared Ownership, First Homes, Deposit Unlock for some new-builds, and the Lifetime ISA bonus toward your deposit. Availability and rules vary by location and lender appetite. We will check what you qualify for and which lenders support the scheme on your chosen property.
Usually yes. Lenders assess affordability from your verified income.
• Sole traders and partnerships: typically average of the last 2 years’ net profit (some accept 1 year).
• Company directors: lenders often use salary plus dividends or salary plus retained profit, depending on policy.
• Contractors: some lenders assess by day rate x working days.
We will place you with lenders who understand your income pattern.
Most first-time buyers choose a repayment mortgage with a fixed rate for 2 to 5 years to keep payments predictable. Tracker or variable rates can suit buyers comfortable with changes. Interest-only is rare for first-time buyers and needs a strong repayment plan. We will explain the pros and cons in plain English.
LTV is the loan as a percentage of the property price. Example: a £225,000 loan on a £250,000 home is 90% LTV. Lower LTVs often mean better rates. Your deposit size and any valuation result will set the LTV, which can change your product options.
Budget for:
• Deposit
• Valuation or survey (HomeBuyer or full survey is optional but wise)
• Legal fees and searches
• Lender product or arrangement fee (sometimes added to the loan)
• Land Registry and other legal disbursements
• Moving costs, insurance, and initial utilities or council tax
We will outline likely costs before you commit.
Buildings insurance is usually required by completion. Life Insurance, Critical Illness Cover and Income Protection are not always required but are sensible to consider. The aim is to keep your home secure if illness, injury or job loss impacts income. We will tailor cover to your budget so it stays affordable and useful.
Often yes. There are specialist lenders for missed payments, defaults or a thin credit file. Expect tighter criteria, possibly higher rates or a larger deposit. A full credit report helps us target the right lender first time. We will create a plan to improve your profile where possible.
Affordability varies by lender and looks at income, commitments and credit conduct. As a guide, many lenders assess somewhere around four to five times income, but this can move up or down based on your case. Start with a Mortgage in Principle, then we will refine the figure for your chosen property.
Start 3 to 6 months before you plan to offer on a home. Check your credit file, reduce short-term borrowing, gather documents, and build your deposit. Speak to us early so you know your budget and can move quickly when you find the right property.
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Important information
Your home may be repossessed if you do not keep up repayments on your mortgage. If you consolidate debts into your mortgage the total amount repaid may increase over the long term.
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