First-time buyer mortgages
Fee-free mortgage advice for first-time buyers, from a Birmingham broker working with buyers across the UK. We compare a panel of 110+ lenders, explain each step in plain English, and one named adviser stays with you from your first question to the day you get the keys.
You are only a first-time buyer once, and the process tends to assume you already know how it works. You do not have to. We work out what you can realistically borrow, which deposit options and schemes fit, and what to put right before a lender runs a credit check.
We will also tell you honestly if waiting a few months would give you a stronger application. There is no broker fee at any stage: the lender pays us when your mortgage completes.
How we help first-time buyers
- A clear figure for how much you could borrow, and what that means monthly
- Deposit options from 5%, plus gifted deposits, family help and schemes
- A lender and deal matched to your income, credit record and the property
- We submit the application and chase the lender, valuer and solicitor for you
- Straight answers on stamp duty, fees and how long to fix
Already own a home, or moving house? See our purchase mortgage advice.
5%
deposit mortgages widely available from many lenders
£300k
no stamp duty for first-time buyers up to this price in England and NI
110+
lenders on our panel, not tied to any of them
£0
broker fee, at any stage
How buying your first home works, step by step
From offer accepted to completion usually takes three to five months in England and Wales, and longer in a chain. This is the order things happen in, and where we come in.
- Budget and deposit. We work out what you can borrow, how much cash you need on top of the deposit, and which deposit route suits you.
- Agreement in principle. A lender’s initial indication of how much it might lend. Estate agents often ask for one before they put your offer forward. It is not a guarantee of a mortgage.
- Find a property and make an offer. Check the property type suits your lender first; some high loan-to-value deals exclude new builds or flats.
- Full mortgage application. Once your offer is accepted, we submit it with your payslips, bank statements, ID and proof of deposit.
- Valuation and survey. The lender values the property for its own purposes. A separate survey is for you, and is worth considering.
- Mortgage offer. Usually two to four weeks after applying, once the underwriter is satisfied.
- Conveyancing. Your solicitor or conveyancer runs searches and enquiries. This is normally what takes longest.
- Exchange of contracts. You pay the deposit and become legally committed to buy.
- Completion. The lender releases the money and you collect the keys.
Our mortgage timeline guide covers how long each stage takes and how to keep things moving.
How much can I borrow as a first-time buyer?
Many lenders lend up to around 4 to 4.5 times your income, and some will go to 5 times or more for higher earners or certain professions. The multiple is only a ceiling. What a lender will actually offer depends on its affordability assessment: your income and how it is paid, your regular outgoings and credit commitments, your credit history, any dependants, and whether the payment would still be manageable if rates rose.
That is why two lenders can give the same person figures thousands of pounds apart, and why buying jointly, overtime, bonuses or a student loan can change the answer. For a quick indicative view, try our mortgage search tool; it does not affect your credit score. We will then check the figure against real lender criteria.
Borrowing figures are illustrative. Every lender sets its own income multiples and affordability rules, and these change often.
First-time buyer deposits and schemes in 2026
The main routes onto the ladder, with a link to our in-depth guide on each. Scheme rules are set by government and providers, and can change.
5% deposit
95% mortgages and the mortgage guarantee scheme
95% mortgages are widely available. The government’s mortgage guarantee scheme, made permanent in July 2025, supports 91% to 95% mortgages on homes up to £600,000.
Low deposit options →Under 5%
98% to 100% mortgages
A few lenders offer 98% to 100% deals, some based on your rent history. Criteria are strict, price caps apply and rates are usually higher.
Buying with a £5k deposit →Family
Gifted deposits
Most lenders accept a gift from a relative towards the deposit, confirmed in a gift letter. Some low-deposit deals ask for your own savings only.
Gifted deposits guide →Family
Joint borrower sole proprietor
A parent or relative joins the mortgage to help affordability without going on the deeds. They share responsibility for the payments.
Joint borrower sole proprietor guide →Saving
Lifetime ISA
If you are 18 to 39 you can save up to £4,000 a year and get a 25% government bonus, for a first home up to £450,000. The government is consulting on a First-Time Buyer ISA to replace it; existing accounts carry on.
Lifetime ISA guide →Part-buy, part-rent
Shared ownership
Buy a share of a home, usually at least 25%, and pay rent on the rest. Household income limits apply (£80,000, or £90,000 in London). Homes are leasehold, with rent and service charges on top.
England only
First Homes
New homes sold at a 30% to 50% discount to local first-time buyers, within income and price limits. Supply is very limited and depends on the area.
New builds
Own New
Uses a housebuilder’s incentive to reduce your deposit to 5% or lower your rate for the initial fix. You own 100% of the home.
About Own New →Key workers
NHS, police and armed forces
Shift pay, overtime and allowances are treated differently by each lender. Service personnel may be able to use Forces Help to Buy towards a deposit.
First-time buyer costs besides the deposit
The deposit is not the only cash you need. Budget for these too, and keep a buffer.
| Cost | Typical amount | Notes |
|---|---|---|
| Conveyancing | Around £1,500 including searches and VAT | Varies with price, tenure and location |
| Survey | From about £400 for a RICS Level 2 | Optional, but worth it; more for older or larger homes |
| Lender valuation and arrangement fees | Often £0 to £1,000 or more | Many first-time buyer deals have no product fee; some fees can be added to the loan |
| Stamp duty (England and Northern Ireland) | £0 up to £300,000 | First-time buyers pay 5% on the part from £300,001 to £500,000. Above £500,000 the relief does not apply |
| Scotland (LBTT) and Wales (LTT) | Different rules | Scotland’s first-time buyer relief raises the nil-rate band to £175,000. Wales has no first-time buyer relief; tax starts above £225,000 for most buyers |
| Moving costs | A few hundred pounds upwards | Removals or van hire, furniture and basics |
| Broker fee | £0 with Quick Mortgages | Some brokers charge, so always ask |
We are not tax advisers and this is not tax advice. Stamp duty, LBTT and LTT figures are general illustrations based on published rates in September 2026, with no warranty on the amount you will pay. Your solicitor or conveyancer will confirm what is due, and you should take advice from a qualified tax adviser on your own circumstances. Cost ranges are typical figures from HomeOwners Alliance and lender fee tables.
Getting mortgage-ready: credit, rates and how long to fix
Your credit file. Check your report with the main credit reference agencies, correct any errors, register on the electoral roll at your current address, and avoid new credit applications in the months before you apply. Keep bank statements that show your savings and rent paid on time. Our guide to why your credit score matters goes further.
Rates with a smaller deposit. A bigger deposit usually means a lower rate. At the start of August 2026, Moneyfacts put the average two-year fix at 6.20% at 95% loan to value, against 5.84% at 90%. Rates have been moving quickly this year, so see our current mortgage rates update for the latest picture.
How long to fix. A longer fix gives certainty over your payments; a shorter one gives flexibility sooner, but exposes you to whatever rates are when it ends. Early repayment charges usually apply if you leave during the fix. Our guide on how long to fix your mortgage sets out the trade-offs.
Protecting the payments. A mortgage is a long commitment. Before buying any cover, check what you already have through an employer, such as death-in-service or sick pay. If there is a gap, we can talk you through life and critical illness insurance and income protection. What any policy pays depends on its terms, and taking cover is your choice.
First-time buyer mortgage FAQs
How much deposit do I need as a first-time buyer?
Usually at least 5% of the price, and 95% mortgages are widely available. A few lenders go to 98% or 100% with strict criteria. A 10% or 15% deposit normally opens up lower rates, so there is a trade-off between buying sooner and paying less each month.
Do I need a mortgage broker as a first-time buyer?
You do not have to use one, but a broker can compare many lenders at once, match you to criteria before a credit search is run, and handle the application. Some deals and lenders are only available through brokers. We charge no broker fee.
Does an agreement in principle affect my credit score?
It depends on the lender. Many use a soft search for an agreement in principle, which other lenders cannot see and which does not affect your score. Some run a hard search, which leaves a visible record. We check which kind a lender uses before we ask for one, and avoid making several applications in a short time.
Do first-time buyers pay stamp duty?
In England and Northern Ireland, not on the first £300,000. First-time buyers pay 5% on the part between £300,001 and £500,000, and the relief does not apply above £500,000. Scotland and Wales have their own taxes and rules. We are not tax advisers; your solicitor will confirm the amount.
Can I get a mortgage with a low income or a thin credit history?
Often, yes. A short credit history is common for first-time buyers and does not rule you out, though it narrows the lenders worth approaching. Buying with someone else, a family member joining the mortgage, or a lender that uses rent history can all help. Read more in first-time buyer myths.
Do you only help first-time buyers in Birmingham?
No. We are based in Birmingham and advise first-time buyers across the UK by phone and video, with evening appointments by arrangement. The advice and the service are the same wherever you are buying.
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