What counts as being a first-time buyer?
If you've never owned a home before — in the UK or anywhere else in the world — you count as a first-time buyer. That status matters: many lenders reserve their best rates for you, and it can also affect things like stamp duty relief, so it's worth making sure every lender knows it.
How much deposit will you need?
Most first-time buyers put down between 5% and 10% of the purchase price, and a bigger deposit usually unlocks better rates. There are also government-backed schemes designed to help — but they change over time, so it's worth checking what's actually available right now rather than relying on old news articles. We'll talk you through what fits your situation.
- A 5% deposit can be enough with some lenders — a 10% or 15% deposit usually opens up better rates.
- Government-backed schemes come and go; we'll tell you which ones are actually live when we talk.
- Gifted deposits from family are common and completely fine — lenders just need to know where the money came from.
What do lenders look at?
Every lender has its own criteria, but they'll generally want to understand:
- Your income and how it's paid — salary, bonus, overtime, or self-employed profits.
- Your regular outgoings and any existing debts.
- Your credit history — past issues don't automatically rule you out, but they shape the options.
- The property itself, through a valuation or survey.
What the process actually looks like
Buying your first home has a lot of moving parts, but the path itself is simple when someone's walking it with you:
- A conversation about what you're looking for and what you could borrow.
- A decision in principle — a soft check that shows sellers you're serious.
- Find a place, make an offer, then a full mortgage application.
- Valuation, surveys and the legal work (we'll point you in the right direction).
- Exchange and completion — keys in hand.
Why use a broker for your first mortgage?
High-street banks can only offer you their own deals. As a whole-of-market broker, we compare across the lending market, handle the application for you, and translate the jargon at every step. And because this is probably your first time, we make sure you understand what you're signing up to — not just what the rate is.
Common questions
How much deposit do I need to buy my first home?
Most lenders ask for at least 5% of the purchase price, with 10–15% opening up better rates. We'll look at what you have saved and find the best fit — including any schemes that could help.
How long does buying your first home take?
From having an offer accepted to getting the keys typically takes around two to three months, though it varies. Getting a decision in principle early makes everything that follows smoother.
Can I get a mortgage if I'm self-employed?
Yes. Lenders usually want to see at least two years of accounts, but some are flexible with less. It's very doable — it just pays to talk to a broker who knows which lenders to approach.