First time buyer

Buying your first home is exciting but it can also feel a bit daunting too. Don’t worry, we’ll talk you through everything and answer all your questions – no matter how big or small.
Join our free Ultimate First Time Buyer Package to get first time buyer news and helpful hints and tips. You’ll also have access to our First Time Buyer Facebook group where our advisers are on hand to answer all your questions.

First time buyer guide

Young couple inside the kitchen of their new home
Overwhelmed by the thought of buying your first home? Don’t be, we’ll explain everything.

What we do

  • Find first time buyer mortgage deals and schemes
  • Manage your expectations and get a great deal for you
  • Talk you through each stage of the process and what you need to do
  • Complete the paperwork you need to secure your mortgage


Our mortgage eligibility tool is a great place to start. We’ll ask you a few basic questions and carry out a soft credit check to see what’s available to you.

Please note, this check won’t harm your credit rating. 

With some lenders a job offer and start date is all you need. If you have your first pay slip more lenders become available to choose from.

No, your payslips are all you need. The lender will want to know about your work history, but we can get you a mortgage with as few as 3 months’ pay slips. 

Yes, you can. The lender will want to see your payslips over the last 12 months and any previous P60s to build up a picture of the number of hours you typically work each month.

A lender will take into account income from multiple jobs. They’ll also check whether or not the number of hours you are working is sustainable. 

Generally, you’ll need a 10% deposit. Although some mortgage lenders are offering mortgages with just a 5% deposit.
If you’re buying a new build property and use the Help to Buy equity scheme which is available in Wales, you’ll only need a 5% deposit with the equity loan, providing you with an extra 20% deposit. Our first time buyers guide explains the Help to Buy scheme in more detail

Yes. In Wales the Help to Buy Scheme is available to first time buyers who are buying a new build property. If you use the scheme the amount of deposit, you need to pay is 5%.

In England the First Homes Scheme offers new build homes at a discount of 30% compared to the market price. In some areas the discount could be as high as 50%. You can buy using this scheme with a 5% deposit. The downsides are lender choice is limited with just a 5% deposit and your household income can’t exceed £80,000. (£90,000 in London). Each local authority can set a lower household income limit if they wish.

Deposit unlock allows you to buy a new-build home with just a 5% deposit. It’s been developed by the Home Builders Federation, with banks and the house building industry. The downsides are there is limited lender choice, and it is only available on new build properties.

Shared Ownership is another option. This is where you buy part of the property and rent the rest, with the option to buy a greater share and potentially all the property when you can afford it. Shared Ownership homes are bought through housing associations, and you will need to meet their criteria. They’re available on both new and existing properties.

Lenders take different approaches when it comes to credit scores.  The starting point is to check your credit report and make sure there isn’t anything on there that is incorrect, or you’ve forgotten about. For more on this, read our guide to how your credit score can affect your mortgage.

Most lenders limit this to immediate family. Some lenders will allow friends and more distant family members to gift you money. If you’re buying from your landlord it may also be possible for them to gift you money.

Yes, you can. It’s a good idea to come to a formal agreement about the minimum number of years you will commit to living in the property. A solicitor will be able to help you with this.

You will need 3 months’ bank statements and, if employed, 3 months’ pay slips. If you’re self-employed you usually need 2 years’ accounts. See our first time buyers guide for more information.
Yes, you can. There are just fewer options available to you than if you have 2 years of accounts.

“We couldn't have had a better mortgage experience, being first time buyers the process was a little daunting at first, but Angela could not have made us feel more at ease. She was so helpful and guided us every step of the way, nothing was too much trouble.”

Maddie May 2023, Mortgage Customer

First time buyer guide

Young couple inside the kitchen of their new home
Overwhelmed by the thought of buying your first home? Don’t be, we’ll explain everything.
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Our mortgage comparison tool is powered by Experian and will show you the mortgage deals you are eligible for in as little as 60 seconds.
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Our super friendly mortgage advisers Are available to discuss your requirements 7 days a week.

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We will seek out a mortgage deal that is right for you, so you can move home minus the stress.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Most Buy-to-Let mortgages are not regulated by the Financial Conduct Authority.

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