Let’s start the adventure
Our team of experts just love helping first time buyers like you find the right mortgage – and each advisor knows the insider secrets and best contacts to get you the best mortgage for your first house.
What can I borrow?
Lenders will look at how much you earn and your outgoings. As a general rule, multiply your income by 4.5 and you’ll get that magic number.
Which first time buyer mortgage is right for me?
This is where we come in. Our expert brokers will find out all about you, your history and future plans, and let you know which mortgage is best for you.
How can we help?
We don’t just pick a mortgage product, we will be by your side until you’ve turned the key in your front door of your first home. And we’ll even stick around afterwards (if you’ll have us).
Important information
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured upon it.
A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances.
A typical fee is £495.
So, how does it all work?
Your first home will likely be the biggest purchase you’ve made yet and the list of considerations is probably endless. But don’t be daunted, millions of people have successfully bought their dream home before you, and you can do it too.
First things first, you should work out how much you can afford. Viewing a £3,000,000 penthouse in Kensington sounds like fun, but if you can only afford £300,000 you might get your heart broken. Give us a quick call and our specialist first time buyer advisors can give you an estimate on how much you can borrow or get number crunching yourself and use our calculator.
We can also arrange an Agreement in Principle (AIP) for you. This provisionally lets you know how much a particular bank will lend you. When you’re ready to put an offer on your first property, you can use the AIP to show the seller and estate agent that you are a serious buyer who has already considered their financial situation.
One of the biggest obstacles between you and your first home is probably the deposit. The average deposit for a first time buyer is around 20% but the good news is that there are a number of lenders that will accept a 10% or even 5% deposit.
Once you have worked out the amount you need to save, create a plan to reach this goal. If you know you need to save £20,000 and you want to buy your first house in 5 years’ time, put away £333 each month. If this is out of your budget, then you need to reassess your goals and adjust your monthly payments accordingly.
Don’t forget that, if you qualify, the government will give you a boost on your savings through a Lifetime ISA, specifically designed to help you save for your deposit on your first home. These ISAs can also be used in conjunction with the Help to Buy Equity Loan scheme. If you’re planning on buying your first home in the next few years, we think this is a no-brainer.
Our experts can give you an idea if your goals are achievable and what you need to do to
make sure your finances are in order.
You’ve chosen your first home (yay!) but now you need to put in an offer (uh-oh). If you offer too little, your offer might be rejected, offer too much and the lender might not be able to lend you enough. Our advice is to do your research. Have a look at what properties nearby have sold for and, most importantly, only offer what you can afford.
As soon as your offer has been accepted, get in touch with your friendly mortgage adviser. We can get moving on your mortgage application straight away leaving you free to go sofa shopping.
Latest first time buyer mortgage offers
We know you’re curious so we’ve picked out some of today’s best mortgage rates to give you an idea which lenders and interest rates could be available to you.
Initial rate
Overall cost for
comparison
Latest mortgage best buys
Based on a property price of £300,000 with a £30,000 (10%) deposit
Calculators
How much can I borrow?
First time buyer guides
Newbie? You’ll feel like an expert in no time with our jargon-busting mortgage guides
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Ashish Misra
"Got in touch with first Craig Smith and later on with Hannah Lee. Both are amazing..."
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Ashish Misra
Got in touch with first Craig Smith and later on with Hannah Lee. Both are amazing with their availability, communication and response. I wish I could talk about another mortgage with them ;-). Will recommend them to anyone I know is in need of a mortgage.Matilda Waters
"I was a first-time buyer and Alex Dowding was so helpful and supportive throughout the whole..."
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Matilda Waters
I was a first-time buyer and Alex Dowding was so helpful and supportive throughout the whole process, offering advice and providing guidance on the various processes. Really appreciated the speed at which Alex found and secured the mortgage, so I was able to act very quickly in securing the property. Alex was also super easy to get hold of throughout, and no question was too small. Thanks!Oya Gurpinar
"Colette Thorn and Robert Lawson were fabulous and made the process easy to understand . I..."
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