First Time Buyers

A first-time buyer is someone who has never owned a property. If you’re a first-time buyer, you can often get exclusive mortgage deals to support you in buying your first home and help you get on the property ladder.

The required deposit for first-time buyers can vary depending on factors such as the property's value and the lender's policies, but typically ranges from 5% to 20% of the purchase price.

Saving for your deposit is a huge milestone, but it's only one part of your home-buying budget. Before you get the keys, it's worth planning for a few other costs too, including:

• Solicitor fees
• Building Survey costs
• Mortgage broker fees
• Mortgage lender and valuation fees (where applicable)
• Stamp Duty (if payable)
• Buildings & Contents insurance
• Removal costs
• Furniture, decorating and those little extras that soon add up

Knowing what to expect from the start can make your home-buying journey much less stressful, and we are here to help you understand the full cost of buying a home, not just the mortgage, so you can budget with confidence from day one.

Typically, you can borrow around 4 to 4.5 times your gross annual income, though this will be affected by other factors like outstanding debts or credit history.

All mortgage lenders assess income and expenditure differently to calculate how much you can borrow, so we will assess your specific circumstances and work out your affordability.