First Time Buyer Mortgages

Your credit score plays a big role when you apply for a mortgage. It helps lenders see how you’ve managed money in the past — like if you’ve paid bills or loans on time. A higher score usually means you’re seen as more reliable, which can make it easier to get approved for a mortgage or access better deals.

If your score is lower, it doesn’t mean you can’t get a mortgage, but you might have fewer options. That’s why it’s a good idea to check your credit score early and if possible to work on improving it before you apply. We can help you understand your score and what steps to take.

Yes, many first-time buyers use a gifted deposit to buy their first home. A "gifted deposit" can mean the following things:-

• A parent, grandparent, or another family member gives you money to put towards your deposit — and they don’t expect you to pay it back.
• A family member or even your Landlord has agreed to sell you their property at a discounted price, so they are essentially gifting you some of the equity in the property to be used as a deposit.

When you apply for a mortgage, lenders need to see proof of your income to make sure you can afford the monthly payments. If you're employed, this usually means showing your recent payslips (usually the last 3 months), bank statements, and sometimes a P60 (a summary of your yearly income and tax). If you're self-employed, you’ll likely need two years of tax returns or accounts, although some lenders can accept one years. It’s a good idea to start gathering these documents early, so there are no delays when you apply. We can let you know exactly what you’ll need based on your situation and help you get everything ready.

It’s best not to take out any new credit

• like a loan, credit card, or finance agreement
• while you’re applying for a mortgage.

Yes, the price of the property is just one part of the total cost. There are several other expenses you’ll need to budget for when buying your first home. These can include:

• Solicitor or conveyancer fees – They handle the legal work when you buy a home.
• Survey costs – A survey checks the condition of the property and can help you avoid costly problems later.
• Mortgage arrangement fees – Some lenders charge a fee for setting up the mortgage.
• Valuation fees – Your lender might charge to value the property.
• Stamp Duty – You may need to pay this tax, depending on the price of the property (first-time buyers often get a discount or exemption).
• Moving costs – This could include hiring a van or removal company.
• Home insurance – Lenders require this before your mortgage begins.

You don’t have to use a mortgage broker, but having one can make the whole process much easier — especially if it’s your first time buying a home.

A mortgage broker explains everything in simple terms, helps you understand how much you can borrow, and finds the right mortgage for your situation. They often have access to special deals that aren’t available if you go directly to a bank or lender. A broker also handles a lot of the paperwork and keeps things moving, so you’re less likely to run into delays. We’re here to guide you every step of the way and make sure you feel confident in your choices.

When you apply for a mortgage, lenders need to check your identity and where you’ve lived in the past. This is a normal part of the process. You’ll usually need to provide:

• Proof of ID – like a passport or driving licence.
• Proof of your current address – such as a recent utility bill, bank statement, or council tax letter.
• Your address history for the last 3 years
• you’ll need to list where you’ve lived, even if you moved around a few times.

Yes, lenders will look at your spending habits to help decide if you can afford a mortgage. This means they’ll check your recent bank statements to see where your money goes each month. Things like regular takeaways, Buy Now Pay Later services (like Klarna), using your overdraft often, or high credit card spending might raise concerns. It doesn’t mean you can’t get a mortgage, but it could affect how much you’re able to borrow.

It’s a good idea to review your spending a few months before applying. Try to cut back on extras, avoid new debts, and stay out of your overdraft if possible. We can help you understand what lenders look for and give tips on how to tidy up your finances to improve your chances.

A Mortgage in Principle (sometimes called an Agreement in Principle or Decision in Principle) is a letter from a lender that shows how much they might be willing to lend you — based on some basic checks. It’s not a full mortgage offer, but it gives you a clear idea of your budget before you start house hunting.

Having one shows estate agents and sellers that you're serious about buying and that you’ve already spoken to a lender. It can make your offer stronger when you find a home you like. Getting a Mortgage in Principle is usually quick and doesn’t mean you’re locked into anything. We can help you get one, explain what it means, and what to do next.

The length of your mortgage term (how many years you take the mortgage over) can make a big difference to what you pay each month.

• A longer term — like 35-40 years — usually means lower monthly payments, which can be helpful if you’re on a tight budget. But it also means you’ll pay more interest overall, because you’re borrowing the money for longer.
• A shorter term — like 20 or 25 years — means higher monthly payments, but you’ll pay off your mortgage sooner and pay less interest in total.

Good news

• if you’re a first-time buyer, you may not have to pay any Stamp Duty at all. In England and Northern Ireland, you don’t pay Stamp Duty on the first £425,000 of a property if it’s your first home and the property costs £625,000 or less.
• If the property costs more than £425,000 but less than £625,000, you’ll only pay Stamp Duty on the amount above £425,000.
• If the property is over £625,000, the first-time buyer relief doesn’t apply, and you’ll follow the normal Stamp Duty rules.

It’s not a legal requirement, but getting a survey is a really smart idea — especially as a first-time buyer. A survey is a detailed check of the property’s condition, done by a professional. It can spot problems like damp, roof damage, or structural issues that might not be obvious when you first view the home.

Without a survey, you could end up with costly repair bills after you’ve moved in. Spending a bit now on a survey could save you thousands later — or even help you renegotiate the price if issues are found.

A fixed-rate mortgage means your interest rate — and your monthly payments — stay the same for a set amount of time, usually 2,3, 5, or sometimes even 10 years! That means no surprises, even if interest rates go up during that time.

For first-time buyers, this can be really helpful because you know exactly what you’ll pay each month. It makes budgeting easier and gives you peace of mind, especially in the early years of owning your home.

Yes — it’s completely normal to feel overwhelmed, especially when you’re buying your first home. There’s a lot to think about: saving a deposit, finding the right place, sorting out a mortgage, dealing with paperwork... it can all feel like too much at times.

The good news is, you don’t have to figure it all out on your own. Getting the right advice and support makes a huge difference. A mortgage broker can guide you through each step, explain things in plain English, and take the stress out of the process. No question is too small — we’re here to help you feel confident and supported from start to finish.