First-Time Buyers
Buying your first home in the UK? We'll guide you through every step — from choosing the right mortgage to completing your purchase.
Mortgages for first-time buyers
Buying your first home is one of the most significant milestones in life. We understand that the whole process can feel complicated and overwhelming — especially if you're doing it for the first time. That's why we're here to guide you through every step, from choosing the right mortgage to completing your purchase.
How does the process work?
Buying your first home involves several key stages:
- Checking your affordability and obtaining a Decision in Principle (DIP)
- Finding a property and making an offer
- Submitting a full mortgage application
- Property valuation by the lender
- Exchange of Contracts
- Completion
Our advisers will walk you through each of these stages, explaining what's happening and what you need to do.
How much deposit do I need?
The minimum deposit required by most lenders is 5% of the property value. However, the higher your deposit, the better the mortgage terms you can secure. With a 10% deposit or more, a significantly wider range of mortgage products becomes available, often with lower interest rates.
Government schemes for first-time buyers
There are several government schemes in the UK that can help first-time buyers:
- Shared Ownership — buy a share of a property (25–75%) and pay rent on the rest
- First Homes — new homes available at a 30–50% discount for local first-time buyers
- Mortgage Guarantee Scheme — government guarantee enabling purchase with a 5% deposit
What additional costs should I budget for?
Beyond the deposit, there are additional costs to factor in when buying your first home:
- Stamp Duty Land Tax (SDLT) — first-time buyers are exempt up to £425,000
- Legal fees (conveyancing) — typically £1,500–£2,500
- Property survey — £150–£1,500 depending on type
- Broker fee — varies by broker
- Buildings insurance — required by the lender
Why use a mortgage broker?
As an independent broker, we have access to products from over 150 lenders. We'll find the best mortgage tailored to your financial situation — whether you're employed, self-employed, or have a non-standard income profile. We serve clients across the UK and offer consultations in Polish and English.
Book a free consultation
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