First Time Buyer Mortgage
Buying your first home is a big milestone but it doesn’t have to be stressful. Our First-Time Buyer Mortgage Guide breaks down each step of the process in plain English, helping you feel confident and informed from the start. Before choosing a lender or submitting an application, we recommend reviewing the full guide to understand your options, costs, and eligibility criteria. It’s designed specifically for first-time buyers in the UK who want clear, reliable mortgage advice. If you're unsure where to begin, or would like to speak directly with an expert, please contact our mortgage advisers . We’re here to answer your questions and help you start your homeownership journey with clarity and confidence.
Start Your First-Time Buyer Mortgage
Buying your first home is a major life step, exciting but often overwhelming. As a first-time buyer, navigating mortgage options, eligibility criteria, and lender requirements can feel complex without the right support.
That’s why we created this first-time buyer mortgage guide to make your journey clearer, simpler, and fully informed. Here, you’ll find practical answers to common questions, learn what lenders look for, and understand how much you could borrow based on your income.
Whether you’re curious about mortgage affordability, planning your deposit, or comparing deals, we break it down into easy steps.
If you’re ready to explore your options, start with our Mortgage Calculators to estimate borrowing potential. Or learn about Adverse Credit Mortgages if your credit history is holding you back.
We’re here to support you throughout the process. Our qualified mortgage advisers offer clear, tailored advice with no jargon.
Who is a First Time Buyer?
A first-time buyer is someone who has never owned a residential property in the UK or abroad, either outright or through joint ownership. If you’re purchasing your first home with a mortgage, you’re classed as a first-time buyer under most UK lender criteria.
Understanding your eligibility as a first-time buyer is essential before you apply. Some government schemes and stamp duty relief options are only available to first-time buyers, so confirming your status can directly impact what deals you’re offered.
We guide you through the process and help you assess your eligibility as a first-time buyer. You can also explore our mortgage calculator to get a quick estimate of what you might be able to borrow based on your income and deposit.
This applies whether you’re employed, self-employed, a freelancer, or a contractor. Being self-employed does not disqualify you from first-time buyer status as long as you haven’t owned property before.
How to Get a First-time Buyer Mortgage
Getting a first-time buyer mortgage may seem complex, but with the right guidance, it can be a straightforward and rewarding process. At Connect Mortgages, we specialise in helping first-time buyers understand their options, compare lender criteria, and apply with confidence. From understanding your deposit requirements to choosing between fixed and variable rates, our team is here to support you every step of the way.
We work with over 200 mortgage lenders and providers, giving you access to exclusive deals tailored to your circumstances. Use our free Mortgage Calculators to estimate what you could borrow, or explore our Adverse Credit Mortgage options if your credit history is less than perfect.
Want expert support? Speak to an adviser today and take the first step toward owning your first home safely and confidently.
The Benefits of First Time Buyer Mortgage
Many first-time buyers struggle to save a large deposit. Fortunately, several lenders offer first-time buyer mortgage products with just a 5% deposit. This is a 95% loan-to-value (LTV) mortgage, meaning you only need to contribute 5% of the property’s purchase price from your own savings. This significantly reduces the upfront cost of buying your first home.
Keep in mind: You’ll still need funds for other expenses like legal fees, stamp duty (if applicable), and moving costs.
💡 Try our mortgage calculator to estimate how much you could borrow.
You’re a Chain-Free Buyer – A Major Selling Point
As a first-time buyer, you’re not part of a chain, making your offer more appealing to sellers. Unlike homeowners who must sell their existing property before buying, you can proceed without delay. This often gives you an edge in competitive markets and can lead to faster mortgage approval and a smoother buying process.
Learn more about our full first-time buyer mortgage support and how to prepare for your purchase.
Access to Family-Assisted Mortgage Options
Today’s lenders offer flexible mortgage solutions designed to support first-time buyers with limited income or a small deposit. These include:
Gifted deposits from parents or relatives
Gifted equity, where family members transfer property value as a deposit
Guarantor support, helping meet income requirements
Joint Borrower Sole Proprietor (JBSP) mortgages, where a parent or close relative contributes financially without owning the property
These products let you qualify for first-time buyer stamp duty relief while your family helps reduce borrowing stress without incurring tax on their end.
Discover more about Joint Borrower Sole Proprietor mortgages and other flexible lending options.
Government Schemes Still Offer Support
Although the popular Help to Buy scheme has ended, there are still government-backed initiatives to help you take your first step onto the property ladder, such as:
Shared Ownership: Buy a portion of a home and pay rent on the rest
Help to Build: Tailored for self-build homebuyers
Right to Buy: For tenants of local councils or housing associations
We stay up to date with all first-time buyer support options. Our advisers can help you explore which schemes you qualify for.
First Time Buyer Deposit
As a first-time buyer, you’ll typically need a minimum deposit of 5% of the property’s purchase price. For example, if you’re buying a home worth £150,000, a 5% deposit equals £7,500.
While 5% is the standard entry point, increasing your deposit can give you access to more competitive first-time buyer mortgage rates. Many lenders offer better deals to applicants with a 10% or higher deposit, which can reduce your interest rate and overall borrowing cost.
If you’re unsure how much you need to save, try our mortgage deposit calculator or speak to a mortgage adviser for personalised guidance.
Struggling with a Mortgage Deposit? Explore 100% Mortgages and Family Gifted Options.
If saving for a mortgage deposit feels out of reach, don’t worry there are still ways to step onto the property ladder.
One option is a family gifted deposit, where a parent or close relative provides the funds for your deposit as a gift, not a loan. This can help boost your eligibility for a competitive first-time buyer mortgage. It’s essential that the gift is declared properly and that the donor signs a declaration confirming it doesn’t need to be repaid, in line with UK mortgage regulations.
Another growing solution is a 100% mortgage, which allows you to borrow the full purchase price without a deposit. These are typically available with a guarantor or security from a family member. While 100% mortgages come with additional criteria, they can be a lifeline for first-time buyers with a strong credit history but limited savings.
Want to understand your options better? Our mortgage advisers will help assess your eligibility and guide you through safe, compliant routes to homeownership.
Mortgage Advice..
Thinking of getting a mortgage? Our experienced team of skilled mortgage advisers are here to offer the essential guidance you require. Relying on our comprehensive understanding of the mortgage market, we’ll ensure you secure the perfect mortgage to suit your specific situation.
Mortgage for Adverse Credit for a First Time Buyer
Can First-Time Buyers with Bad Credit Get a Mortgage?
Yes. First-time buyers with credit issues can still get a mortgage, even if lenders view them as higher risk. Many specialist mortgage lenders are open to applicants with imperfect credit, although you may face higher interest rates or need a larger deposit.
What Counts as a Credit Issue?
Common credit issues include missed payments, defaults, or County Court Judgments (CCJs). The impact of these depends on how recent they are.
Most lenders often ignore older credit issues, typically over six years old.
If your last issue occurred more than three years ago, you may still qualify for competitive mortgage rates.
Can I Still Get a Mortgage with Recent Credit Problems?
Yes, even with recent issues on your record, getting a mortgage with adverse credit is possible. You may need:
A higher deposit (often 15% or more)
A higher interest rate, reflecting the increased lending risk
We work with over 200 lenders and providers, including many who offer first-time buyer mortgage options tailored for applicants with poor or limited credit histories.
Make Sure You Can Afford Your Monthly Repayments
Mortgage affordability calculators are everywhere these days. Why not try Connect’s calculator to see your borrowing potential?
Lenders have different affordability calculations. They change these calculations regularly. Some lenders accept a missed utility bill payment from two years ago. Others might reject your application for this reason.
Some lenders consider CCJs but need to know the amount, purpose, and reason. Using a qualified independent mortgage broker saves you time and stress.
As a rule of thumb, employed clients with 12 months’ work history and clean credit reports can expect to achieve 4.5 times their salary.
The most important thing is knowing how much it will cost each month. Make sure you can afford it.
Considering a budget before looking for a property is a good idea. Think about how much you can afford to pay every month. Remember to cover everyday costs like gas, electricity, and food.
Budget for The Other Costs of Buying a Home
Additional Costs to Consider When Buying Your First Home
Beyond your monthly first-time buyer mortgage payments, it’s important to budget for several upfront and ongoing home-buying costs. These may include:
Solicitor or conveyancing fees, covering legal checks and contracts.
Search and Land Registry charges, required during the legal process.
Mortgage arrangement and valuation fees, which may apply depending on your lender or mortgage product.
Home removal and moving expenses, especially if you’re relocating over a long distance.
Buildings insurance, often a requirement before your lender releases funds.
Initial furnishing and decorating costs, which can vary depending on the property’s condition.
Stamp Duty (or Land and Buildings Transaction Tax in Scotland / Land Transaction Tax in Wales), based on your property’s value.
FAQs: First Time Buyer Mortgage
Most frequent questions and answers about first time buyer mortgage
To be eligible for a first time buyer mortgage, you must generally not have ever owned property before. Some lenders may class you as a first-time buyer if you have not owned a property for many years.
Your mortgage affordability depends on your income, credit score, and other financial factors. A good starting point is to calculate how much you can afford monthly for a mortgage payment by subtracting your expenses from your income. Speak with a mortgage advisor to find out what type of loan you qualify for and get an estimate of how much you can borrow.
Yes, a first-time buyer can get an interest-only mortgage. However, they will need to meet certain criteria to qualify for one. A longer-term repayment mortgage may be more suitable.
First-time buyers can access a range of mortgage products, such as fixed rate, variable rate, tracker, and offset mortgages. There are also special schemes that can help first-time buyers get on the property ladder. Each option has its advantages and disadvantages, so it is essential to research the different types of mortgages before deciding.
Yes, first-time buyers can obtain a self-build mortgage to finance the construction of their own home. Some lenders have specific products designed for this purpose and may offer incentives such as cashback or discounts on legal fees. There is also a Government scheme called ‘help to build.
What next?
We will come back to you quickly to let you know how we can help. If you would like to speak to us immediately, call us on 01708 676 111.
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Liz Syms is the CEO and Founder of Connect Mortgages and Connect for Intermediaries, a leading firm specialising in property investment finance. With more than 25 years of experience in the mortgage and financial services industry, Liz has helped thousands of clients secure both residential homes and investment properties.
Renowned for her expertise and commitment to excellence, Liz is passionate about delivering tailored, high-quality advice on mortgages and protection. Her leadership has positioned her as a trusted figure in the sector, and under her guidance, Connect Mortgages has expanded to a national team of over 300 advisers.
Driven by a vision to make Connect Mortgages one of the UK’s most successful mortgage networks, Liz continues to champion professional standards and client-focused solutions across the industry.
About the Author
Liz Syms is the CEO and Founder of Connect Mortgages, a specialist in finance for property investment. With over 25 years of experience in mortgages and financial services, Liz has helped countless people get their dream homes and investment properties. She is passionate about giving her clients the best advice possible when it comes to financial decisions relating to mortgages and protection and is dedicated to providing the highest quality of service. With her wealth of knowledge in the industry, Liz is a respected leader in mortgages and financial services and has grown her team to over 300 advisers nationally. She strives to make Connect Mortgages one of the most successful companies in its field.