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First-Time Buyer Mortgage

Start Your Homeownership Journey with Confidence
Buying your first home is a big milestone—and we’re here to make it simpler. Whether you’re just starting to explore your options or already have your dream home in mind, we’ll guide you every step of the way with clear advice and smart mortgage solutions.

What is a First-Time Buyer Mortgage?

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.

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Who Qualifies as a First-Time Buyer?

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).

How Much Can You Borrow?

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.

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Documents You’ll Need

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

Types of Mortgages for First-Time Buyers

Fixed-Rate Mortgage

Interest stays the same for a fixed period (usually 2–5 years).
Easier to budget.

Tracker Mortgage

Interest can rise or fall with the Bank of England rate.
Might offer lower rates initially.

Help to Buy Mortgages

Government-backed scheme offering a loan up to 20% (40% in London) of the home’s value.

Shared Ownership

You buy a portion of the home and pay rent on the rest.
Ideal for those with smaller deposits.

Guarantor Mortgages

A parent or family member guarantees your loan.
Helps you borrow more with a lower deposit.

How We Help First-Time Buyers

Tailored Mortgage Advice

We take time to understand your financial situation, goals, and preferences to recommend a mortgage that truly fits you.

Access to Exclusive Deals

We search across a wide range of lenders including high street banks and specialist providers to find competitive rates and exclusive offers.

Deposit & Budget Guidance

Unsure how much you need for a deposit or what you can afford monthly? We’ll help you break it down clearly and plan responsibly.

Support with Paperwork & Process

From pre-approval to final application, we manage the paperwork and liaise with lenders on your behalf to make it stress-free.

Help Understanding Government Schemes

We’ll explain any available schemes you might qualify for—such as shared ownership or Help to Buy—and guide you through the process if you’re eligible.

Ongoing Advice After You Buy

Our support doesn’t end once you move in. We’re here to help with future remortgaging, protection plans, and ongoing financial reviews whenever you need us.

Get Expert Protection Advice

Contact AAI Financials today for personalized guidance on protection plans that secure your future and loved ones.

Contact Us