Your first home, made simpler.
Buying your first home is exciting, but working out deposits, affordability and lender criteria can feel daunting. We’ll explain what you may be able to borrow, compare suitable mortgages from across the market and guide you from your first conversation through to collecting the keys.
Thinking about a new-build home or Shared Ownership? Take a look at our dedicated pages to learn more about the options available.
- Free, friendly and no-obligation initial chat
- Agreement in Principle usually available the same day
- One adviser from your first call through to completion
How it works
Your first home, in eight clear steps.
From working out your budget to collecting the keys, we’ll explain what happens next and support you throughout.
Say hello!
Call us on 01225 258900 or complete our enquiry form to arrange a free, no-obligation chat. We’ll get to know you, answer your questions and talk through your income and regular spending to work out how much you may be able to borrow.
Don’t worry if you don’t have all the answers yet- that’s exactly what the first conversation is for.
Helpful tip: Check that your name and current address are correct on your payslips, bank statements, driving licence and other documents. Keeping everything consistent can help prevent delays later.Build your buying budget
Next, we’ll add your deposit to the amount you may be able to borrow, giving you a clearer idea of your overall property budget. A 5% deposit is a common starting point, although some products may allow a smaller deposit or, for eligible renters, no personal deposit at all. These options have specific criteria and may not suit everyone. Generally, a larger deposit can provide more choice and potentially better rates.
Understand the costs
We’ll help you choose a monthly mortgage payment that feels comfortable—not simply assume that borrowing the largest available amount is right for you.
We’ll also explain the other costs you may need to budget for, including legal fees, surveys, lender fees, Stamp Duty where applicable and our advice fee. You’ll know what to expect before you start viewing homes.
Get your Agreement in Principle
Once we’ve explored your options, we can usually arrange an Agreement in Principle the same day, subject to the lender’s requirements.
This gives you an indication of how much a lender may be prepared to offer and helps show estate agents that you’ve already taken steps to prepare for your purchase. It isn’t a formal mortgage offer, but it gives you a helpful starting point for your property search.
Find a home you love
Now for the exciting part- viewing properties and finding somewhere that feels right!
Once you’re ready to make an offer, you can contact us if you’re unsure about anything. We’ll be here to explain what happens next and help you feel prepared.Choose the right mortgage
Once your offer has been accepted, we’ll review your circumstances again and search the market for a suitable mortgage. We’ll explain the available options clearly and recommend the one we believe best fits your needs and plans.
Unlike approaching one bank directly, we can compare mortgages from across the market, giving you access to a much wider range of options.
Helpful tip: You’ll need a solicitor or conveyancer who can act for both you and your chosen lender. We’ll check this before submitting your application and, if you need help finding one, we can recommend a firm, although you’re always free to choose your own.Submit your mortgage application
We’ll prepare and submit the mortgage application for you, send the lender the documents it needs and deal with any questions along the way.
The lender will review your finances and arrange a valuation of the property. We’ll keep an eye on everything, chase progress where needed and keep you updated—so you’re never left wondering what’s happening.
A mortgage offer is made!
If the lender is satisfied with your application and the property, it will issue the formal mortgage offer. We’ll check the details with you and explain anything that isn’t clear.
Your solicitor will then complete the remaining legal work, arrange the exchange of contracts and agree the completion date. On completion day, the money is transferred, the property becomes yours and you can collect the keys to your first home!
Options that could help you buy sooner
Getting onto the property ladder may be possible with a smaller deposit than you expect and some options may even allow you to buy without one. With Shared Ownership, you purchase a share of a home and pay rent on the remaining amount. If you’re an eligible council or housing association tenant, Right to Buy could allow you to purchase your current home at a discount.
Read more about Right to Buy and Shared Ownership · Read more about New Build
Considering a new-build home? Some developers offer incentives, such as contributing towards your deposit, legal fees or Stamp Duty.
Every option works a little differently, so we’ll help you understand what you may qualify for and whether it’s right for you.
What will a mortgage lender consider?
- Your income. Around 5 to 6 times your combined annual income can be a useful starting point, although the amount available will depend on your overall circumstances. Some lenders may offer more in certain situations.
- Your deposit. Mortgages may be available with a 1% deposit, but saving a little more could give you access to a wider choice of lenders and potentially better rates.
- Your credit history. You don’t always need a perfect credit score. Lenders will look at how you’ve managed your finances, and some may still consider you if you’ve had credit issues in the past.
- Your monthly commitments. Car finance, loans, credit cards, childcare and other regular expenses can affect how much a lender believes you can comfortably afford.
Every lender has its own criteria, so being turned down by one doesn’t necessarily mean you won’t be accepted elsewhere. We’ll take the time to understand your circumstances and find the lenders most likely to suit you.
Your first home starts here
Not sure how much you could borrow or where to begin? We’ll explain your options clearly and help you take the next step. Your first conversation is free, with no pressure to proceed.
Call 01225 258900Questions
First time buyer questions, answered
How much deposit do I need for my first home?
You can buy with as little as a 5% deposit. A bigger deposit generally means a lower interest rate, and rates tend to step down at each 5% band, so going from 91% to 90% loan to value can be worth more than months of extra saving.
How much can I borrow as a first time buyer?
As a rough guide, around 4.5 times your annual income, less any credit commitments. Some lenders will stretch to 5.5 times for certain professions or higher earners, and some will not reach 4.5. Our borrowing calculator gives you a starting figure.
What is an Agreement in Principle and do I need one?
It is a lender's initial indication of what they would lend you, based on a credit and affordability check. Estate agents take you far more seriously with one, and we can usually get you one the same day.
Do you charge a fee?
Your initial conversation is free and there is no obligation to proceed. Our usual mortgage advice fee is £299, payable when your mortgage offer is issued. We’ll confirm the exact fee before beginning any chargeable work.
The fee may vary depending on your circumstances, but it will not exceed the lower of £1,000 or 3% of the mortgage amount.
Ready when you are.
Whether you’re arranging a mortgage or protecting what matters, tell us what you need and we’ll explain your options clearly. Your first conversation is free and there’s no obligation.
Your home or property may be repossessed if you do not keep up with repayments on your mortgage.
