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Buying your first home is easier when you know what lenders look for and you understand the options available to you. This hub explains deposits, affordability and key criteria, then guides you from a soft-search Mortgage in Principle (no impact on your credit score) through to mortgage offer. You can compare 25,000+ mortgage products across 130+ lenders and shortlist options that fit your budget, with trusted support from CeMAP-qualified, FCA-regulated brokers. Get started now, or book a free appointment when you’re ready.
Clear, quick and efficient mortgage advice helping first-time buyers across the UK step confidently onto the property ladder.
Our first-time buyer service is designed to give you clarity early on, with free access to tools, a Mortgage in Principle in 15 minutes, and jargon-free advice from leading CeMAP qualified advisers who work with first-time buyers every single day.
We take the time to understand your personal situation and goals, searching the market on your behalf to find mortgage options that fit your budget and plans. You will not pay any upfront advice fees, and you only pay if you choose to proceed with a mortgage offer. That means you can explore your options properly, without pressure or obligation.
From your first conversation through to completion, we manage the application, deal with lenders and solicitors, and keep you informed at every stage.
Tailored Advice for First-Time Buyers
The Mortgage Broker: Building Dreams, Protecting Futures
Our goal is to get you on that property ladder with as little stress as possible. Everything we offer is designed to make the process straightforward, efficient, and cost-effective. By working with a mortgage broker like us, you gain access to products you wouldn’t find on your own and receive independent, expert, jargon-free advice every step of the way.
We handle the entire application from start to finish. That includes explaining your options, helping you choose the right mortgage, and selecting protection that suits you and your family. Our focus is on making the process clear, manageable, and fully supported.
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The Mortgage Broker can offer you a mortgage in principle to your mobile in 15 minutes. Instant affordability checks, search the market and find the best first time buyer mortgage rates.
15 Mins Affordability and Mortgage in Principle 90% of successful UK mortgage applications go through a Mortgage BrokerOur 3 Step Process for First-Time Buyers
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Understand affordability and financial picture
A quick review of income, deposit and commitments.
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Learn More About The First Time Buyer Mortgage ProcessHow much can I borrow?
The market is changing on a daily basis, and lender rates are often different one day to the next. What we can guarantee, is that The Mortgage Broker can access the lowest rates and maximise how much you can borrow.
What costs should I expect?
There are a number of financial considerations when looking to purchase your first property. Our advisers will cover all of this for you. Solicitor fees and stamp duty tax have to be calculated in your affordability from the start.
Useful TMB Tips
Read our First Time Buyer guide or download our Home Buying App for all our useful tools and material in order to get yourself mortgage ready. We always highly recommend talking to a broker to understand the process but 3 tips are:
Getting started as a First Time Buyer
Struggling to get on the property ladder? A frustration shared by many would-be homeowners. And once you’ve found the property of your dreams, there are still so many things to consider. One of the most important parts of the whole process is finding the best mortgage deal.
Searching for the best deal is exhausting, why not have someone else take the weight off your shoulders? Let us compare thousands of mortgages to find the best one for you. We scour through all the well-known lenders, as well as those that aren’t on the radar, to ensure you’ll be confident that you’ve got the right mortgage, and we’ll support you every step of the way.
Listen below as Suzy Allen talks all about mortgages for First Time Buyers.
In less than 25 minutes, you’ll know a lot more about getting your first mortgage sorted.
Free First-Time Buyer Guide
Buying your first home is a big commitment, and no doubt you’ve been preparing for this next step for this next step. This free digital guide breaks everything into simple, clear steps. Learn how to prepare your credit file, budget for costs, understand lender criteria and get mortgage-ready with confidence.
Download your First-Time Buyer GuideWritten by our CeMAP-qualified advisers and reviewed by our compliance team to help you plan your first purchase with clarity and confidence.
First-Time Buyer Mortgages: All You Need To Know
Who is a First-Time Buyer Mortgage For?
UK first-time buyers who want to maximise mortgage opportunities and get on the property ladder. The Mortgage Broker can answer questions around deposits, affordability and getting a Mortgage in Principle so you can understand what your payments would look like.
There are solutions for anyone with mixed deposit amounts, shared ownership, bad-credit histories, complex income, and higher-value purchases; employed or self-employed. The Mortgage Broker has experts across all Mortgage Products across the UK.
Can I get a Mortgage with Bad Credit as a First-Time Buyer?
Yes, it’s possible to get a first time buyer mortgage with bad credit. In fact, it’s likely more achievable than you’d first think. A mortgage broker can work with lenders that are not on the high street, and many accept missed payments, defaults, CCJ’s, bad credit, debt management plans and IVA’s. Speaking to a mortgage expert is the best place to identify the lenders who specialise in bad credit mortgages and increase your chances of approval.
How Do I Get a Mortgage as a First-Time Buyer in the UK?
To get a mortgage as a first time buyer in the UK you will usually need a minimum deposit of around 5 – 10%, proof of your income for all applicants, and a reasonable credit history.
We do have options for 5% deposit and the market has even opened up options for 0% deposit for renters. The more deposit you put down then the more it helps of course.
A mortgage broker can then search the market and find the right mortgage suited to your circumstances. This includes options for self employed, bad credit, bad credit, defaults and any complex income. The aim is to maximise your opportunities, but ensure your finances are suitable, sustainable and affordable.
What Documents will I need for a Mortgage in Principle?
We just need your income for a Mortgage in Principle. For a full Mortgage Application we will require:
- Photo ID and proof of address.
- Last three months of payslips or self-employed accounts/SA302s.
- Latest P60 if employed.
- Three months of bank statements.
- Proof of deposit from savings, gifts or government schemes like Lifetime ISA.
- Existing rental agreements if relevant.
What’s the Timeline for a First-Time Buyer Mortgage?
- Agreement in Principle is available within 15 minutes
- Full mortgage application to offer takes around 2 to 4 weeks depending on the lender.
- Completion typically takes 8 to 12 weeks depending on solicitors and the chain.
What Government Schemes are Available for First-Time Buyers?
Government schemes for first time buyers include Shared Ownership, First Homes Fund (Scotland) and Help to Buy. There are often regional low deposit initiatives and lenders do offer certain incentives time to time. These are generally designed to support those with lower affordability and less deposit available.
One of The Mortgage Broker’s first time buyer mortgage experts can guide you through eligibility and what is available for your circumstances.
Get startedCan I use a Gifted Deposit for a First-Time Buyer Mortgage?
Yes, you can. You can use a deposit that has come from a gift. Most lenders accept gifted deposits from family members and just require evidence in writing that the gift is not a loan and that they won’t have ownership in the property. There are other options for Guarantor Loans, or Joint Borrower Sole Proprietor Mortgages.
Do I Need Protection or Insurance with a First-Time Buyer Mortgage?
Yes, it is essential to protect your mortgage, your income, and your home. Most importantly, if you have a family, you want to ensure security for them should anything happen that causes a loss of earning. Getting a mortgage is often the largest debt taken by an individual, so it is smart to protect yourself. Most buyers take out life insurance, critical illness cover, and/or income protection. The Mortgage Broker has specialists that will discuss all protection and offer any free advice needed throughout the process, so you know what is right for your needs.
Learn about Protection OptionsAre ISAs Available for First-Time Buyers?
Yes there are some specialised ISA’s available once again in the UK mortgage market for first-time buyers where the government offer a 25% government bonus to help put towards a deposit. The primary option is a Lifetime ISA (LISA) that enables you to save up to £4,000 per year with an annual bonus of £1,000.
Key Terms for First-Time Buyers
There are many phrases you’ll come across on your mortgage journey that you may never have heard before, or you may not know exactly what they mean. Many mortgage advisors will seek to blind you with buzzwords and hope you don’t listen too closely to what they’re actually saying!
We pride ourselves on our no-nonsense approach to mortgage advising and are a mortgage broker dedicated to making mortgages as easy as 123.
We have a page full of useful definitions for all of the terms you’ll hear during your time looking for, and procuring a mortgage. We thought it would be useful to focus on a few key terms that will be important to you, the first time buyer.
What is a Mortgage in Principle and do I need one?
A Mortgage in Principle is a conditional agreement from a lender saying they could lend you a certain amount for a mortgage. It is not a fully offered mortgage, but rather a preliminary guide to what you can afford and an amount a lender has said you are credible for. They make you a more credible buyer with estate agents and sellers.
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A land tax introduced in the 1600’s. Stamp duty is payable on properties over a certain value. Thankfully, as a first time buyer, you are likely to be able to dodge this additional fee. Properties under £425,000 are exempt from stamp duty for first time buyers. Anything above £425,000 up to £625,000 and you’ll pay a stamp duty tax that is usually around 5%.
This measures how much you borrow compared to the value of the property. The Loan to Value (LTV) will be a percentage. If you have 90% of the value of your home to pay once the deposit is deducted, then you have 90% LTV.
The final step in buying your home. When we talk about the completion date, this is the day that property ownership transfers from the seller to the buyer. Contracts are exchanged between solicitors and all paperwork completed. If everything goes off without a hitch, you collect your keys and the house is yours.
Completing the legal transfer of your property and exchanging the keys don’t have to fall on the same day. Sometimes you won’t have a choice, if you are in a chain, it’s especially important that the completion and exchange dates are worked out in advance. This date will be discussed with your solicitor and agreed upon by all parties.
After all of the final checks have been made, the completion day is also the day all of the money is transferred. Your solicitor will handle the transfer of funds and the seller’s solicitor will confirm completion.
This is a check performed by a property surveyor to discover any defects in your potential new home, before you commit to buying. Buying a new home is a huge risk, it’s best to get as much information as you can before you proceed. A professional building survey will tell you every potential problem you may encounter with the structure, external and internal, of your new home.
This word is used when referring to the legal process of transferring a property from one owner to another. This is usually carried out by a solicitor on your behalf and makes sure that all legal requirements are met.
Freehold means that you own the property and the land that it’s built on. Leasehold means that you may own the property but not the land it is built on, and you own the property only as long as the freeholder of the land allows. As you can imagine, freehold is a much more desirable type of property to buy.
For a full glossary: Check out our Jargon Buster.
Why First-Time Buyers Choose The Mortgage Broker
The Mortgage Broker is an award-winning, top rated team of expert mortgage advisors specialising in first-time buyer mortgages. We’re here to help you understand the ins and outs of securing your first mortgage, regardless of your circumstances. We have helped thousands of customers just like you.
Case Study
From Setback to Success: First-Time Buyers Secure £237K Mortgage
Initial Enquiry
The customers approached us after another mortgage broker was unable to find a lender for them. This was mainly due to one applicant’s credit history, which came from a life event.
The customers needed a first-time buyer mortgage with a 5% deposit.
| New Lending | Property Value | Balance | Loan to Value | Term | Interest Rate | Payment Type | Product Type | Payment |
| Mortgage | £250,000 | £237,500 | 95.00% | 25 | 5.18% | 2 Year Fixed | £1,411.98 |
The Challenge
There were a couple of challenges on this case:
- Previous adverse credit, including defaulted accounts.
- 5% deposit.
The Solution
After thorough research and discussions with lenders, we 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% despoit. We successfully placed 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.
How Did This 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, we turned a potentially declined application into a successful outcome. Demonstrating the value of compassionate, knowledgeable brokerage.
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Case Study
Mortgage Approved Despite Credit Card Arrears
A first‑time buyer approached us seeking a mortgage using a £10,000 deposit that had been gifted by a parent as part of an early inheritance. The applicant wanted long‑term housing security while continuing an existing plan to clear credit‑card debt.
| Property Value | Balance | Loan to Value | Term | Payment Type | Interest Rate | Product Type | Payment | |
| Mortgage | £75,000 | £67,500 | 90% | 11 Years | Repayment | 6.39% | 5 Years Fixed | £713.27 |
The applicant’s credit file showed 6 missed payments and an “arrangement to pay” with a credit‑card provider. While the arrangement was being honored, this level of arrears can limit product options and raise affordability and underwriting concerns for first‑time buyers.
Using our knowledge and experience, we sourced a repayment mortgage of £67,500 against a £75,000 purchase price, over an 11‑year term on a 5‑year fixed at 6.39%, producing monthly repayments of £713.27. The structure balanced stability (fixed rate) with a relatively short term to help the applicant save mortgage interest, while remaining within a 90% LTV (10% deposit of £7,500). Importantly, the underwriter accepted that the credit‑card arrangement was ongoing and being met, which allowed the application to proceed.
The mortgage completed successfully, enabling the applicant to purchase their first home and maintain a clear plan to continue paying down the credit‑card debt under the existing arrangement.
This helped the customer to purchase their first home, with a 5‑year fixed rate to provide predictable payments during a period to focus on debt reduction.
The £713.27 monthly repayment fit the applicant’s budget while supporting their strategy to clear the credit card.
Before the 5 year fixed rate expires we’ll be looking to move the customer to a more competitive rate as the credit card arrears will be cleared and off the credit file.
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Deposits – how they work, how much you’ll need
The average deposit for first time buyers is around 10% of the total cost of the home. The minimum deposit for first time buyers depends on the deal you go for and the help you need to buy your home. There are low deposit mortgage options available and mortgage lenders are often support first time buyers with low deposit options.
In simplest terms, the bigger your deposit, the less risk you are to the lender, the more likely you are to be accepted for your mortgage, and the lower your monthly repayments will be.
Mortgage lenders use all sorts of calculations to determine how much you will be able to borrow from them. As a rule of thumb, you will be able to borrow up to 4.5 times your annual salary, though to get an exact figure, the best thing you can do is talk with us. After a short conversation we’ll be able to tell you exactly how much you’ll be able to borrow.
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Yes, schemes like Shared Ownership, Help to Buy, and regional initiatives can support first-time buyers, especially those with low deposits or affordability challenges.
To qualify, you typically need a 5-10% deposit, proof of income, and a good credit history. Working with a mortgage broker can help you find the most suitable mortgage options, even if you have complex income or credit issues.
Typically, a 5-10% deposit is required. However, options like 0% deposit mortgages may be available for renters with a good payment history, though these are less common.
A Mortgage in Principle is a preliminary agreement from a lender indicating how much they might lend you. It’s not a full mortgage offer but helps demonstrate seriousness to sellers and estate agents.
Yes, it’s possible. Some lenders specialise in bad credit mortgages, accepting defaults, missed payments, and other credit issues. A mortgage broker can identify these lenders and help improve your chances of approval.
Getting a Mortgage in Principle can take as little as 15 minutes. The full process from application to completion generally takes 6-10 weeks.
Yes, many lenders accept gifted deposits, usually from family members. A letter confirming the gift and no expectation of ownership might be required.
You’ll need proof of ID, address, income, bank statements, and deposit evidence. Specifics can vary by lender but preparing these supports a smooth application process.
Consider costs like valuation, surveys, legal fees, and possibly Stamp Duty. These can vary, so having clarity on these is crucial when planning.
While not necessary, a broker can provide access to a broader range of products and manage the application process, which may increase approval chances.
A mortgage broker searches the market for the most suitable products, handles communication with lenders, and offers guidance on financial and legal steps.