First-time buyer mortgages

A first-time buyer mortgage is a home loan for someone who has never owned a property. Most lenders ask for a deposit of at least 5% and lend based on your income, outgoings and credit history.

Check what I could borrow

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Part 1

Can I afford it?

Two things decide what you can buy: the deposit you have saved and how much a lender will let you borrow.

Your deposit

Most lenders ask for at least 5% of the price. A bigger deposit usually means more deals to choose from, and can mean a lower rate.

Your deposit can come from savings or, with many lenders, a gift from close family, usually with a signed letter confirming it is a gift and not a loan. Lenders check where it came from, so keep it somewhere with a clear paper trail.

How much you can borrow

Lenders look at your income, your regular outgoings and your credit history.

They also check you could still afford the payments if interest rates rose. The most you can borrow is not always the most you should borrow, so work out a monthly payment you are comfortable with first.

Estimate how much you could borrow

Mortgage Affordability Calculator

Get an estimate of how much you might be able to borrow based on your income and commitments

Your Annual Income (£)

Second Applicant Income (£) (optional)

Monthly Commitments (£)

Loans, credit cards, car finance, etc.

Deposit Amount (£)

Important Note:

This calculator provides an estimate only. Actual borrowing amounts depend on lender criteria, affordability assessments, credit history, and other factors. Speak to a mortgage adviser for personalised advice based on your circumstances.

Five ways to strengthen your application

1Make sure you are on the electoral register at your current address.
2Check your credit reports with the main credit reference agencies, and ask for any mistakes to be corrected.
3Avoid new credit, such as car finance or a new credit card, in the months before you apply.
4Keep your deposit in an account with a clear history, so you can show where it came from.
5Keep up to date with existing bills and repayments.

Part 2

What will it cost?

Your deposit is the biggest cost, but it is not the only one. Budget for these as well.

Deposit

Usually at least 5% of the purchase price.

Property purchase tax

Stamp Duty Land Tax in England and Northern Ireland, Land and Buildings Transaction Tax in Scotland, Land Transaction Tax in Wales. Stamp duty calculator.

Solicitor or conveyancer

Ask for a written quote that covers all their fees.

Survey

A lender's valuation is for the lender. A survey is for you and looks at the condition of the property.

Mortgage fees

Some deals charge an arrangement fee. Compare the overall cost, not just the rate.

Moving and setting up

Removals, buildings and contents insurance, and furnishing the home.

Worked example: buying at £350,000 in England

5% deposit	£17,500
10% deposit	£35,000
Stamp duty as a first-time buyer	£2,500
Stamp duty if you were not a first-time buyer	£7,500

First-time buyers pay nothing on the first £300,000 and 5% on the part up to £500,000. For illustration only. Stamp Duty Land Tax rates for England and Northern Ireland, checked against GOV.UK in October 2026. Scotland and Wales have their own taxes. Work out your own stamp duty.

Is there any help for first-time buyers?

Governments and some lenders run schemes that can help, and what is available depends on where you live and when you buy. Schemes change often, so check the current details on GOV.UK or the relevant government website before relying on one. An adviser can tell you which, if any, apply to you.

Part 3

How does it work?

The usual order of steps, from your first enquiry to collecting the keys. In Scotland some steps differ.

Check your finances. Work out your income, regular outgoings, savings and any debts, and check your credit report.
Speak to a mortgage adviser. An adviser explains the types of mortgage, the costs and the risks, and what a lender will ask for.
Get an agreement in principle. A lender's initial indication of how much it might lend. It is not a formal offer.
Appoint a conveyancer or solicitor. They handle the legal work. Do this before you make an offer.
Find a property and make an offer. An accepted offer is not usually legally binding until contracts are exchanged. In Scotland, your solicitor makes the offer.
Make your full mortgage application. The lender checks your documents and income, and arranges a valuation of the property.
Exchange contracts and complete. You become legally committed, then the money is transferred and you collect the keys.

What to have ready

Proof of identity and proof of address
Recent payslips, or if you are self-employed, tax calculations and accounts
Recent bank statements
Evidence of where your deposit has come from, and a signed gift letter if family are helping
Details of any debts, loans or regular financial commitments

Common mistakes to avoid

Focusing on the most you could borrow, rather than what you can comfortably repay.
Forgetting legal fees, the survey, moving costs and stamp duty.
Taking out new credit or changing jobs during your application without checking first.
Making an offer before you have an agreement in principle and a conveyancer lined up.
Choosing a deal on the headline rate alone, and ignoring fees and early repayment charges.

Part 4

Why speak to an adviser?

Free: the adviser has agreed not to charge you for advice
FCA-regulated, and on the Financial Services Register
Searches the whole of the market, not tied to any one lender
Explains your options, the costs and the risks in plain English
Handles your application and keeps it moving to completion
Contacts you within 24 hours

Find my adviser

Could not ask for more from our adviser, Kaylan who was extremely helpful throughout the whole process and made it so easy for us! We felt like we were in such good hands as first time buyers and would recommend to all.

Imogen P.Read on Google

Brilliant service! Our adviser, Kaylan, went above and beyond to not only find us the best deal out there but also make the whole process feel smooth and seamless. Applying for a mortgage, particularly as a first time buyer, can feel a bit overwhelming but with MortgageAdviceUK it actually couldn't have been easier! And the fact it's totally fee-free is the perfect cherry on top. I'd absolutely recommend MortgageAdviceUK and will continue to use their services long into the future.

Hannah P.Read on Google

Questions first-time buyers ask

What is an agreement in principle?

It is a lender's initial indication of how much it might lend you, based on basic checks. It is not a formal offer and it does not guarantee a mortgage.

Can I get a first-time buyer mortgage if I am self-employed?

Many lenders lend to self-employed applicants. They usually ask for evidence of your income over a period of time, such as tax calculations or accounts.

What happens after I enquire?

We introduce you to one FCA-regulated adviser, who will contact you, usually within 24 hours, to talk through your situation. There is no fee to use our service and no obligation to go ahead.

Will my credit score affect my application?

Lenders look at your credit history when deciding whether to lend and on what terms. A weaker history does not always rule you out, but it can limit your options, so check your credit report before you apply.

Can a family member help with my deposit?

Many lenders accept a gift from a close family member, usually with a signed letter confirming that it is a gift and not a loan. Lenders' rules differ, so say early on if you expect help.

Can I buy with a partner or friend?

Yes, you can apply for a joint mortgage. Lenders assess everyone's income and credit history, and first-time buyer stamp duty relief usually applies only if everyone buying is a first-time buyer.

Your home may be repossessed if you do not keep up repayments on your mortgage. The information on this page is general and is not personal advice. mortgageadviceuk.com is an independent marketing website which acts solely as an introducer to companies who provide mortgage advice.

Guides on this topic

First-Time Buyer but Your Partner Is Not: How It Affects Stamp Duty

Buying with a partner who has owned a home before? See how it affects first-time buyer relief and property purchase tax in England, Scotland and Wales.

Updated 11 Oct 2026

First Time Buyer Mortgage: A Step-by-Step Guide to Buying Your First Home

A plain-English guide to the first time buyer mortgage process in the UK: the steps in order, what lenders ask for, costs to plan for and common mistakes.

Updated 7 Oct 2026

See all guides

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