A first-time buyer mortgage is specifically designed for individuals or couples purchasing a home for the first time. These mortgages often come with features that make homeownership more accessible—such as lower deposit requirements, competitive interest rates, and flexible repayment options.
As a first-time buyer, you may also be eligible for government-backed schemes like Help to Buy, Shared Ownership, or First Homes, which can reduce upfront costs or increase your borrowing potential.
Our goal is to make the process simple and stress-free. From helping you understand your borrowing limits and deposit needs to choosing the right type of mortgage, we provide clear, personalised advice at every step. We’ll explain the key terms, guide you through paperwork, and make sure you feel confident in your decisions.
You’re considered a first-time buyer if:
- You’ve never owned a home before, either in the UK or abroad.
- You’re buying the property to live in, not for investment or renting.
If you’re buying with someone else, both of you must be first-time buyers to qualify for certain benefits (like stamp duty relief in the UK).
Lenders will assess your:
- Income and employment status
- Monthly expenses and debts
- Credit score
- Size of your deposit
Most first-time buyers can borrow around 4 to 4.5 times their annual income.
To apply for a mortgage, you’ll need:
- Proof of ID (passport or driver’s license)
- Proof of income (payslips or tax returns)
- Bank statements (usually last 3-6 months)
- Proof of deposit
- Employment details or contract