Table of Content
Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.
First-Time Buyer Mortgages
Deposits, affordability, rates, schemes, stamp duty, surveys, solicitors — it’s a lot, and most people don’t know where to start. That’s completely normal. We help first-time buyers see what’s actually possible, find the lender that fits, and go from browsing online to picking up the keys with clarity and confidence.
Agreement in Principle typically within 24–48 hours.
Buying your first home is a big step — you don’t have to work it out alone
A first-time buyer mortgage follows the same core lending rules as any other — but when you’ve never done it before, there’s far more to navigate, and that’s exactly where we come in. We’re specialist first-time buyer advisers and we’ve helped thousands of people from every walk of life take their first step onto the ladder: employed and self-employed, sole and joint applicants, gifted deposits, government schemes and everything in between. Whatever your situation, the chances are we’ve placed one like it before.
And we don’t just find you a rate and disappear. We’re with you through the whole journey — securing your Agreement in Principle, structuring the strongest possible application, helping you put forward a credible offer, and liaising with your estate agent, solicitor and surveyor to keep the chain moving. Knowing when your deposit needs to be ready, when to instruct a solicitor and which mortgage type suits you is just as important as the numbers — and we handle the lot, clearly and tailored to you, from the first conversation to the day you collect the keys.
First-time buyer calculators — borrowing, monthly cost & stamp duty
When you’re buying your first home, three numbers really matter: how much you can borrow, what it’ll cost each month, and the buying costs on top — like stamp duty. This page has a few handy calculators to help you work all three out. Just pick a tab below and everything updates instantly.
What could you borrow?
A quick estimate based on income multiples — affordability, deposit and credit profile also matter.
Add both incomes together for a joint application.
Most first-time buyers land at 4.5–5.5×. A few lenders stretch to 6× — and up to 6.5× for high earners / premier banking clients (typically income around £100k–£150k+).
Based on 4.5× your income. Stronger profiles may reach 6×.
Figures are illustrative and rounded. They exclude product fees, valuation and legal costs. Your actual borrowing and rate depend on affordability, loan-to-value, credit profile and lender criteria.
How much can a first-time buyer borrow?
Borrowing isn’t based on salary alone. Lenders assess overall affordability — income, monthly outgoings, deposit size, credit profile and their own internal criteria. Many first-time buyers fall in the 4.5 to 6 times income range — with a few lenders reaching 6.5× for high earners and premier banking clients — but the exact figure depends on how your income is treated: bonus or commission may be only partly counted, and self-employed earnings are often averaged.
Illustration on a £50,000 income
| Income multiple | Possible borrowing |
|---|---|
| 4.5× income | £225,000 |
| 5× income | £250,000 |
| 5.5× income | £275,000 |
| 6× income | £300,000 |
| 6.5× income | £325,000 |
Moving from 4.5× to 6× adds £75,000 of borrowing on this income — and the 6.5× tier, where it’s available, adds £100,000. Enough to change the type of property you can buy, which is why lender choice matters.
If you’re a higher earner, some lenders go beyond the usual cap. A number stretch to 6× and even 6.5× income where earnings are comfortably into six figures — typically a sole income around £100,000–£150,000+ (or strong joint income), and often through premier or priority banking tiers. On a £120,000 income that’s the difference between roughly £540k at 4.5× and £780k at 6.5×. Eligibility, the exact multiple and any minimum income vary by lender and must be confirmed live — finding the one that offers it for your profile is exactly what we do.
How much deposit do you need?
You can buy with a 5% deposit, and in niche cases slightly less — but the deposit is only one piece of the puzzle. Put down 5% and you still have to afford the mortgage on the other 95%, and that borrowing must fit inside the lender’s affordability rules.
Bigger deposits move you into cheaper rate bands
A wider choice of lenders opens up
Less to borrow makes the sums easier to pass
Rates often improve at 5%, 10%, 15%, 25%
Deposit requirements can also vary with your situation. Residency status, certain property types (some new builds or non-standard construction) and any adverse credit history may mean a lender asks for more than the standard minimum. Moving up into the next deposit band can noticeably reduce your rate.
First-time buyer mortgage rates
Your rate depends on your deposit size, credit profile, loan amount and the lender’s criteria — and rates typically improve at key deposit thresholds such as 5%, 10%, 15%, 25% and 40%. Some lenders run products aimed specifically at first-time buyers, occasionally with cashback, reduced fees or competitive pricing.
Lower-rate products often carry arrangement fees — commonly £999, £1,999 or a percentage of the loan — which can usually be added to the mortgage. On a smaller first-time-buyer loan a big fee can wipe out the saving from a slightly lower rate. We compare deals including fees over the fixed period to find the true lowest-cost option for you, not just the best headline number.
Schemes available to first-time buyers
Several schemes and structures are designed to help first-time buyers onto the ladder and improve affordability — but not all lenders accept every option, and some are restricted to certain property types. Tap each to see how it works.
Discounted new-build properties available to eligible buyers at a significant reduction from open-market value. Eligibility and the size of the discount depend on the scheme rules and the local authority.
You buy a share of a property (often 25%–75%) and pay rent on the remainder, with the option to increase your share over time — known as staircasing. It lowers the deposit and mortgage you need to start with.
A family member supports affordability by being on the mortgage without being on the title deeds, so the home is yours alone. If you’re considering this route, see our guide to the best Joint Borrower Sole Proprietor (JBSP) mortgage lenders.
Tools such as a Lifetime ISA let you build your deposit faster, with a government bonus typically of 25% added to your savings, subject to limits and rules. It’s one of the simplest ways to accelerate getting to a deposit.
Some lenders offer first-time-buyer-focused products with perks such as cashback, reduced fees or enhanced affordability models. Choosing the right combination of scheme and lender — aligned to your purchase and finances — can significantly improve both affordability and your chances of approval.
The first-time buyer mortgage process
There are quite a few steps, and it can feel overwhelming — this is exactly where having a broker makes the difference. We guide you through each stage, tell you what needs to happen and when, and help you choose the right professionals along the way.
An AIP confirms what a lender is likely to approve based on your details. Get it before you start seriously viewing — most estate agents expect it before accepting an offer, and it focuses your search on what’s realistic.
With your AIP in hand you can view and offer with confidence, knowing your budget is grounded in what a lender will actually support.
Once your offer is accepted we submit the full mortgage application and you instruct a solicitor (conveyancer) to handle the legal work. We help you line up the right people.
The lender values the property, and you choose a survey level appropriate to its age and type. This stage protects you against paying over the odds or inheriting hidden problems.
A formal mortgage offer is often issued within 1–2 weeks of a full application, depending on the lender and how complex your case is.
On exchange the purchase becomes legally binding; on completion the money moves and the home is yours. We stay involved through to the end so nothing slips.
What costs should you budget for?
Beyond the deposit, plan for several other costs that come with buying. Typical ranges are below — your solicitor will confirm exact figures for your purchase.
| Cost | Typical range |
|---|---|
| Solicitor / conveyancing | £1,800–£2,300 (house vs flat), plus disbursements & third-party costs |
| Survey | £450–£800+ depending on level and property value |
| Mortgage arrangement fee | £0, £999, £1,999 or percentage-based |
| Valuation fee | Varies by lender and property value |
| Moving costs | Varies — removals, storage, etc. |
| Stamp duty | Depends on price and first-time-buyer relief thresholds |
You can estimate the tax using our stamp duty calculator. First-time-buyer relief can reduce or remove stamp duty below certain thresholds.
What documents are required?
What you’ll need depends on your employment status (PAYE, self-employed, contractor), the lender, and where you are in the process (AIP vs full application). There’s no single list for everyone, but lenders typically ask for evidence of income, ID, address history and your deposit funds.
We’ve put together a full mortgage documents checklist covering what lenders commonly request and how to present it so your application runs smoothly.
First-time buyers we’ve helped
A few cases where the right lender match and a well-structured application got people onto the ladder.
Amy — first flat with a 5% deposit after being told she needed 10%
The challenge. Amy had saved hard but only had 5% down on a £210,000 flat. The first lender she tried wanted 10% for that block, and her modest bonus wasn’t being counted — leaving her just short on affordability and convinced she’d have to keep renting another year.
How we structured it. We moved her to a lender comfortable at 95% LTV on that property type, and one that counts a consistent bonus. We evidenced two years of bonus history and presented a clean, well-organised file so the underwriter saw a low-risk applicant.
The outcome. A 95% mortgage agreed on her real affordability — she bought the flat with the deposit she actually had, not the one she’d been told to find.
Property: £210,000 · Deposit: 5% · LTV: 95% · Income basis: salary + bonus
“One lender said 10% or nothing. Strive found one that took my 5% and counted my bonus — I got the keys this year, not next.”
Tom — borrowed more with a parent on the mortgage but not the deeds
The challenge. Tom’s income on its own capped him around £180,000 — short of the £240,000 he needed for a one-bed near work. His parents wanted to help him borrow more, but not to co-own the property or trigger extra stamp duty on a second home.
How we structured it. We arranged a Joint Borrower Sole Proprietor mortgage: his father’s income was added to the affordability assessment, while Tom alone went on the title deeds. We matched him to a JBSP-friendly lender and evidenced both incomes cleanly.
The outcome. A £240,000 mortgage agreed with the home in Tom’s sole name — family support where it counted, without the ownership or tax complications.
Loan: £240,000 · Structure: JBSP · On title: applicant only · Support: parent’s income
“My parents could help on paper without owning my flat. Strive set up the JBSP, explained the stamp duty side, and it just worked.”
Priya — first home as a self-employed buyer with just one year of accounts
The challenge. Priya had gone self-employed 14 months earlier and her income had grown, but most lenders wanted two full years of accounts. Two declined her outright for her first home despite a healthy deposit and strong earnings.
How we structured it. We took her to a lender that assesses one year’s figures with a clear, profitable trajectory. We packaged her accounts, SA302, tax-year overview and business bank statements so the income was easy to verify and the case stood up.
The outcome. A mortgage agreed on a single year of self-employed accounts — she bought her first home rather than waiting another tax year for the second set.
Basis: 1 year’s accounts · Status: self-employed FTB · Evidence: SA302 + tax-year overview
“Everyone wanted two years of accounts and I only had one. Strive knew the lender that would say yes — first home, sorted.”
Case studies are illustrative of the routes available to first-time buyers; figures and outcomes vary by lender and individual circumstances.
Your first home, guided end to end
Choosing the right lender and structuring your application properly can change how much you can borrow, what rate you get and how smoothly the whole thing runs. We compare lenders across the market, use affordability-friendly options, explain everything in plain English, manage the process end to end, and liaise with estate agents, solicitors and surveyors so you’re never left wondering what happens next.
We’ve helped thousands of first-time buyers get onto the ladder with confidence. No call centres, no jargon for its own sake — just a real adviser who learns your situation and is still there at the other end of the phone when questions come up.
Of first-time buyers helped onto the ladder
We compare lenders across the market
We manage agents, solicitors & surveyors
Five-star reviews from clients we’ve placed
Tell Jamie where you’re up to — saving, browsing, or offer accepted — and he’ll talk you through what’s possible in plain English, with no pressure and no obligation. He’ll arrange a call at a time that suits you.
First-time buyer FAQs
Most first-time buyers can buy with a 5% deposit, though 10% or more usually gives access to better rates and a wider choice of lenders. The key factor is whether you can afford the mortgage on the remaining borrowing. Certain property types, residency status or adverse credit can mean a larger deposit is required.
Typically 4.5 to 6 times income, depending on your profile and the lender — and a few lenders stretch to 6.5× for high earners or premier banking clients (often income around £100k–£150k+). How your income is assessed — salary versus bonus or commission, or averaged self-employed earnings — also affects the final figure.
Sometimes. Some lenders treat you as a first-time buyer if you haven’t owned a property in the UK for the last three years, which can make you eligible for certain products or affordability models.
Some lenders offer products aimed at first-time buyers, sometimes with incentives such as cashback or reduced fees. The rate you actually receive depends largely on your deposit size, credit profile and lender criteria — and the lowest headline rate isn’t always cheapest once fees are counted.
Once a full application is submitted, an offer is often issued within 1–2 weeks, depending on the lender and complexity. The full purchase usually takes several weeks because of the legal work.
It’s not legally required, but most estate agents will expect an AIP before accepting an offer. It strengthens your position and confirms what you can realistically borrow.
Before you start seriously viewing properties or making offers. It shows estate agents and sellers that a lender is likely to approve your mortgage based on your financial details, and keeps your search realistic.
In England & Northern Ireland (2026 rates), first-time buyers pay no stamp duty on the first £300,000 and 5% on the portion from £300,001 to £500,000 — so up to £10,000 on a £500,000 home. If the price is over £500,000 the relief no longer applies and standard rates apply to the whole price. Relief requires every buyer on the title to be a first-time buyer and the home to be your main residence. Use the stamp duty tab in the calculator above for your figure. Scotland (LBTT) and Wales (LTT) differ.
