Getting on the ladder has never been easier
Buying your first home is one of the biggest decisions you'll ever make. Our friendly, expert adviser guides you through every step of the process, from understanding what you can borrow to collecting your keys.
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Your journey to homeownership
We guide you through every step of buying your first home.
Check what you can borrow
We assess your income, outgoings, and deposit to give you a realistic borrowing figure and get you an Agreement in Principle.
Find your property
With your AIP in hand, you can confidently make offers. Estate agents take buyers with AIPs more seriously.
We submit your application
Once you have an offer accepted, we submit your full mortgage application to the most suitable lender.
Mortgage offer & completion
After valuation and underwriting, you receive your mortgage offer. We liaise with your solicitor to get you to completion.
What does buying your first home actually cost?
Beyond your deposit, there are several additional costs to budget for. Here's what to expect on a typical London first time buyer purchase.
Minimum 5% (95% LTV). A 10%+ deposit unlocks significantly better rates. A LISA gives you a 25% government bonus on up to £4,000/year saved.
FTB relief: 0% on first £300,000, 5% on £300k–£500k. A £400,000 purchase costs £5,000. Properties above £500,000 lose FTB relief entirely.
Covers searches, Land Registry fees, and legal work. Fixed fee quotes are better than hourly. Shop around and check reviews.
Never rely on the mortgage valuation. A HomeBuyer Report (£450–£650) or Full Structural Survey for older properties. Costs much less than missing a serious defect.
Some products have fees, some don't. A product with a £999 fee and a lower rate may be cheaper overall than a no-fee product. We calculate this for you.
Removal van hire, storage, utility connection fees, and the inevitable IKEA run. Budget at least £1,000 for a typical one or two-bedroom move.
Government schemes for first time buyers (2026)
Lifetime ISA
Most popularSave up to £4,000/year and receive a 25% government bonus (up to £1,000/year). Must be opened before age 40. Use for a first home purchase up to £450,000. Penalty applies for withdrawals for other purposes.
Shared Ownership
Lower depositBuy a 25–75% share of a property and pay subsidised rent on the rest. Lower initial deposit needed. You can "staircase" to full ownership over time. Available on new builds and some resales from housing associations.
Mortgage Guarantee Scheme
5% depositThe government guarantees part of your mortgage, enabling lenders to offer 95% LTV products. Available on properties up to £600,000. You still need a good credit history and to pass standard affordability checks.
How your deposit size affects your rate
| Deposit | LTV | Typical 5yr fix | Monthly on £350k |
|---|---|---|---|
| 5% (£17,500) | 95% | 5.43% | £2,216 |
| 10% (£35,000) | 90% | 4.89% | £2,069 |
| 15% (£52,500) | 85% | 4.52% | £1,923 |
| 25% (£87,500) | 75% | 4.21% | £1,792 |
Based on £350,000 purchase, 25-year repayment. Rates indicative, May 2026.
First time buyer mortgages: what you need to know
As a first time buyer in the UK, you have access to a wide range of mortgage products, including standard residential mortgages and government-backed schemes. The minimum deposit is 5%, but saving 10% or more significantly improves your rates and monthly payments.
As an independent broker, we access first time buyer deals from 90+ lenders, including exclusive products not available on comparison sites. We find the right deal for your circumstances, whether employed, self-employed, or buying through a shared ownership scheme, and handle the whole application for you.
First time buyers in England benefit from SDLT relief: 0% on the first £300,000, 5% on £300,001–£500,000. Above £500,000, standard rates apply and FTB relief is lost entirely. We explain all costs upfront so you never face surprises.
First time buyer FAQs
How much deposit do I need as a first time buyer?
What is an Agreement in Principle (AIP)?
Can I get a first time buyer mortgage if I'm self-employed?
What government schemes are available to first time buyers?
How long does the first time buyer mortgage process take?
Get your free AIP before you start house hunting
Estate agents take first time buyers more seriously with an Agreement in Principle. We do it in 24 hours with a soft credit check, with no impact on your score.
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Mortgage Calculators →
Calculate borrowing power, repayments and stamp duty for free.
Don't forget to protect your new home
Life insurance for a first-time buyer in London typically costs from £10/month. We compare 20+ insurers to protect your mortgage and family. Arrange it alongside your mortgage for maximum convenience.
Free: First Time Buyer Checklist 2026
49 steps covering everything from checking your credit score to collecting your keys. Interactive: tick off as you go, or print as PDF.
Ready to take your first step?
Get your free Agreement in Principle today. No impact on your credit score for a soft search.
Your home may be repossessed if you do not keep up repayments on your mortgage.