First Time Buyer Mortgages
Your first home, made possible with the right mortgage.
Buying your first home is a huge milestone. It’s exciting - but it can also be full of questions.
How much can I borrow?
What deposit do I need?
What will it cost me each month?
Which is best, fixed or variable?
Which lender will say yes?
Our role is to make it simple, answer your questions, and explain your options in plain English. We’ll find the best deal for you, and guide you from first chat to getting the keys in your hand.
Independent, FCA-authorised mortgage advisors | Trusted by first-time buyers across the UK
Your home may be repossessed if you do not keep up repayments on your mortgage.
How We Help First Time Buyers
Choice - with access to the whole-of-market we compare thousands of deals, so you don’t have to.
Clarity - mortgages explained clearly, jargon free, so you always know what’s happening.
Support - we guide you from our first chat, each milestone, until the keys are in your hands.
Specialist Knowledge - Government schemes, conveyancing, and complex mortgage cases.
Long Term Thinking - we don’t just arrange mortgages, we help build your financial future.
A Personal Touch - a real advisor who understands your case, and your circumstances.
What is a First-Time Buyer Mortgage?
A first-time buyer mortgage is simply the loan you take to buy your first home. You put down a deposit, the lender provides the rest, and you repay it in monthly instalments - usually over 25 to 30 years.
The mortgages themselves are mostly the same as for other buyers, but being a first-time buyer gives you two key advantages:
Reduced or no stamp duty: Many first-time buyers pay less, or nothing at all.
Access to schemes: In Northern Ireland, this includes Co-Ownership, where you buy part of a property and pay rent on the rest until you’re ready to own it fully. Across the UK, there are also options like Shared Ownership and the First Homes scheme.
In short: the product is the same, but first-time buyers often benefit from lower costs and extra support to get onto the ladder.
Your First-Time Buyer Journey
We’ll be with you from day one through to getting your keys. Here’s how the journey usually looks:
-
We’ll talk through your goals, budget, and timeline. This helps us map out the best route forward for you.
-
We check affordability and lender criteria, then secure a decision in principle (DIP) so you know how much you can borrow and can view homes with confidence.
This is also quite often referred to as an agreement in principle (AIP), or a mortgage in principle.
-
The Fun Part - Once you’ve found “the one,” we can advise on making an offer and get your documents ready.
-
We search the whole market, explain the options in plain English, and help you pick the most suitable mortgage.
-
We handle the paperwork and liaise with the lender, keeping you updated at every step.
-
Your lender checks the property is worth the agreed price. We explain the process and next steps.
-
Once approved, you’ll receive a formal offer outlining the mortgage terms. We’ll review this with you so everything’s crystal clear.
-
Your solicitor handles the legal work, contracts are exchanged, and the sale is finalised. Then it’s time to collect your keys and celebrate your new home! 🎉
Ready to take your first step?
Your first home is closer than you think, and it doesn’t have to be complicated. With the right advice and support, it will be an enjoyable journey.
Book a free, no-obligation chat today and let us guide you every step of the way.
First Time Buyer FAQs
-
Most lenders ask for at least 5% of the property price. A larger deposit (10–15% or more) often unlocks better rates and lower monthly payments.
-
Yes - subject to affordability and credit criteria.
-
Yes. Some lenders are more flexible than others. We work with the whole market and can match you to lenders who are open to different credit profiles.
-
It depends on your income, spending, and credit profile. Most lenders will offer around 4–5x your annual income, subject to affordability checks.
-
Often less - and sometimes nothing at all, but don’t worry, we will work this out with you.
England & Northern Ireland: You won’t pay any Stamp Duty Land Tax (SDLT) on properties up to £300,000. You’ll then pay 5% on the portion between £300,001 and £500,000. If the property costs more than £500,000, or you’re buying with someone who isn’t a first-time buyer, you won’t qualify for the discount.
Scotland: First-time buyers don’t pay Land and Buildings Transaction Tax (LBTT) on properties up to £175,000.
In short: where you’re buying and the price of the property will decide if you pay stamp duty - but as a first-time buyer, you often benefit from reduced costs compared to other buyers.
-
On average, 8–12 weeks from application to moving day. The exact timing depends on the lender, the paperwork, and how quickly the legal side is completed. We’ll keep everything moving and keep you updated.
-
Alongside your deposit, you’ll need to budget for solicitor fees, surveys, insurance, and moving costs.
If you’re in Northern Ireland, remember you’ll also pay rates (instead of council tax). We’ll give you a clear breakdown so there are no surprises.
Your first home is closer than you think…
6 Tips to Help You Secure Your First Mortgage
A few simple steps you can take to improve your chances. Here are six practical tips we share with first-time buyers every day:
1. Match with the right lender
Not every lender has the same rules. Some specialise in self-employed income, others are more flexible on deposit size or credit history. A broker can help match you with lenders whose criteria fit your situation, saving time and stress.
2. Strengthen your credit profile
Lenders want to see that you manage money responsibly. Check your credit report is accurate, pay bills on time, and avoid unnecessary borrowing in the months before you apply. Small improvements can make a big difference.
3. Compare deals across the market
Rates, fees, and features vary widely. Looking at just one or two banks could mean missing out. At Turkington Davis, we compare deals from across the market so you know you’re getting the most suitable option.
4. Grow your deposit where possible
Even a small increase in your deposit can move you into a lower loan-to-value (LTV) bracket - unlocking better rates and saving money over the life of the mortgage. If you’re still saving, try our mortgage deposit calculator to see how different amounts affect affordability.
5. Consider a joint mortgage
Buying with a partner, family member, or friend can increase your affordability and improve your approval chances. We’ll guide you through the pros, cons, and responsibilities of applying jointly.
6. Choose a lender-friendly property
Some properties are harder to mortgage than others - for example, flats above shops, unusual builds, or listed homes. If you’re unsure whether your dream home could raise a red flag with lenders, speak to us before making an offer.
