First Time BuyerMortgages UK
Nobody expects you to know the whole process on day one — you deserve someone who will walk you through it honestly.
The process is simpler than it looks. But small mistakes early on can delay you by months or cost you thousands in the wrong product.
29 Years
Experience
No Fee
On Many Deals
5★
Reviews.io
TL;DR — How Much Do I Need as a First-Time Buyer?
- Minimum 5% deposit, but 10-15% unlocks better rates and more options
- No Stamp Duty on properties up to £425,000 for first-time buyers
- Shared Ownership lets you buy 25-75% and pay rent on the rest
- Lifetime ISA gives 25% government bonus on savings up to £4,000/year
- Typically borrow 4-4.5x your annual salary with most lenders
Mistakes we see most often
House-hunting before a decision in principle
Knowing your realistic budget and lender appetite first saves disappointment and protects your credit file.
Assuming 5% deposit opens every deal
Minimum deposit and best-rate deposit are different numbers. Schemes and lenders vary.
Ignoring other buying costs
Solicitor, survey, and moving costs affect what you can actually afford — not just the mortgage payment.
Multiple comparison searches
Each hard search can narrow options. One advised application to the right lender beats three guesses.
What I'd be thinking if you were buying your first home
First-time buyers usually contact me with one of two fears: that they can't afford enough, or that they'll make an expensive mistake in the process. Both are fixable with the right order of decisions.
I start with deposit, realistic borrowing, and timeline — not property portals. Falling in love with a home before you know your ceiling wastes everyone's time and can trigger unnecessary credit searches.
Schemes, joint purchases, gifted deposits, and complex income all change the path. I'd rather slow you down for two weeks than rush you into the wrong lender or product.
That is the conversation you get — honest sequencing, not a hard sell on day one.
What we would assess before applying
The order we use when a real file sits in front of us — not a comparison-site checklist.
Deposit saved
Amount, source, and whether gift letters are needed.
Borrowing ceiling
Income, debts, and stress-tested affordability — realistic not hopeful.
Timeline
Just researching vs actively viewing — changes urgency and product choice.
Schemes
Shared Ownership, Lifetime ISA, or standard purchase — what fits?
Joint purchase
Partner, friend, or solo — ownership structure matters early.
Credit file
Clean or marks — affects lender tier from the start.
Employment
PAYE, probation, or self-employed — proof requirements differ.
The YHF Assessment
A few quick questions — we will give you an honest view before you enquire.
Typical case
Anonymised illustration — realistic, no hype. Outcomes vary; every file is underwritten on its own merits.
- ·£220k purchase
- ·10% deposit + Lifetime ISA
- ·Joint PAYE £65k combined
- ·Clean credit
Decision in principle in 48 hours. Full recommendation on scheme vs standard purchase.
How judgement made the difference
Anonymised illustrations from real cases — no lender names, no promises. Just how an adviser reads a file.
Client situation
Couple viewing properties £40k above realistic borrowing after online calculator.
What I noticed
Student loans and car finance reduced affordability; 10% deposit not 5% needed for target lenders.
What we changed
Affordability review first; adjusted budget before any application or viewing.
Why that mattered
Avoided declined application and six months of chasing impossible properties.
Outcomes vary; every file is underwritten on its own merits.
How we work
- 1Understand your situation
- 2Review your credit profile
- 3Match lenders before applying
- 4Prepare your application
- 5Submit once we're confident
Where do I go next?
Is This Page For You?
This page is for people buying their first home who want to understand what's actually required — not generic advice. If any of these apply, we can help:
Why First-Time Buyers Get Stuck
Most delays and disappointments aren't about the deposit. They're about the process. Here's what typically goes wrong:
Searching before knowing your budget
You fall in love with a property, then discover you can't borrow enough. Or worse, you get an offer accepted, then find out you need a bigger deposit than expected.
Generic online calculators
They don't account for student loans, car finance, or how different lenders calculate affordability. The number you see online might be £30,000 different from reality.
Multiple credit searches
Each 'agreement in principle' from a different lender leaves a mark on your credit file. Too many make lenders nervous — even if you're a good applicant.
Missing Stamp Duty relief
First-time buyers get significant Stamp Duty savings on properties up to £425,000. If you've owned before (even abroad), you might not qualify.
Underestimating costs
Beyond the deposit, you need money for surveys, legal fees, moving costs, and building up an emergency fund. Many first-time buyers are surprised by the total.
How We Approach It Differently
We give you a clear picture before you start searching — so you know exactly what you can afford and what the process looks like.
Accurate borrowing figure
We check multiple lenders' criteria to find your real borrowing power — not a generic estimate. This includes accounting for student loans and other commitments.
One credit check
We source your mortgage properly, so you're not leaving multiple footprints on your credit file from different applications.
Full cost breakdown
We explain all the costs upfront — deposit, fees, legal costs, surveys — so there are no surprises halfway through.
Scheme guidance
We explain which government schemes you qualify for (Shared Ownership, Lifetime ISA, etc.) and whether they're actually worth using.
Common First-Time Buyer Mistakes
Waiting until you've found a property
Get a mortgage agreement in principle first. It shows sellers you're serious and prevents disappointment if you can't borrow enough.
Only looking at the interest rate
Total cost matters more. A "cheap" rate with a £999 fee can cost more over 2 years than a slightly higher rate with no fee.
Forgetting about remortgaging
Your initial deal ends after 2-5 years. If you don't remortgage, you go onto the lender's expensive standard rate. Plan for this now.
Using comparison sites for first mortgages
They show rates but don't check if you'll actually be approved. An adviser assessment is more reliable for first-time buyers.
"First-time buyers often think they need more deposit than they do. Getting proper advice early can save months of unnecessary saving — and help you buy sooner."
Jay Sabine
Principal Adviser, Your Home Finance
Let's review your first-time buyer options
Free adviser assessment • No credit search • FCA regulated
Struggled to get approved elsewhere? We specialise in complex cases including CCJs, self-employed income, and declined applications. Over 90% of our clients had concerns about their situation before speaking to us.
Build your picture step by step
First purchase is a sequence of decisions — these chapters answer the ones that come up most.
Before you get in touch
Can I actually afford this?
We start with realistic borrowing and total costs — deposit, Stamp Duty, solicitor, and survey — not a hopeful online calculator figure.
Am I ready to make an offer?
A decision in principle before you view protects you from falling for a home outside your ceiling — and avoids unnecessary credit searches.
Which scheme fits?
Shared Ownership, Lifetime ISA, or standard purchase — the right route depends on your deposit and long-term plans, not marketing.
What we would recommend
If this were our first purchase, we would want the steps in the right order. That is what this review gives you — honestly.
Will enquiring commit me to anything or run a credit search?
No. We map your position first — deposit, borrowing, and timeline — and call back with realistic next steps. No hard search until you agree to proceed.
Let's review your first-time buyer position
Every case is reviewed by an experienced adviser before we recommend the next step.
Average adviser response: within 15 minutes during business hours. We'll call or message today where possible.
Tell us where you are — saving, viewing, or ready to offer — and we will map the next sensible step without a hard credit search.
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Frequently Asked Questions
Content reviewed: January 2026
CeMAP awarded by The London Institute of Banking & Finance. Cert CII (MP) awarded by the Chartered Insurance Institute.