Buying your first home in the UK is exciting, but it can also feel like a puzzle with too many moving parts. You are not just choosing a property; you are trying to understand deposits, affordability checks, mortgage products, legal fees, government support, and what happens after you make an offer. This first time buyer mortgage UK guide is designed to make that process feel more manageable.
If you are asking yourself can I get a mortgage as a first time buyer, the short answer is often yes, but the real answer depends on how much you have saved, how stable your income is, what your credit file looks like, and how comfortably you can pass a lender’s affordability review. In the UK, there is no single path that works for everyone. Some buyers are ready with a 5% deposit. Others need to spend a little longer building their savings or improving their financial profile. What matters is knowing where you stand and what options are realistic before you start making offers.
See how much you need to save for your mortgage deposit.
Work out what you can comfortably afford to borrow.
Understand the extra costs involved in buying a home.
A first-time buyer is usually someone who has never owned a property before, either in the UK or abroad. That sounds straightforward, but in practice the definition can matter in different ways depending on whether you are speaking to a lender, a solicitor, or looking at government support. If you are buying jointly, every applicant usually needs to meet the first-time buyer definition for first-time buyer reliefs or schemes to apply.
This is important because some benefits are tied to that status. For example, stamp duty relief for first-time buyers, where available, depends on the official rules at the time of purchase. In England and Northern Ireland, first-time buyers may currently benefit from relief on properties up to certain thresholds, but those rules can change, and Scotland and Wales use different systems entirely. That is why it is worth checking the latest official guidance before you rely on any saving.
Every lender applies its own eligibility criteria when assessing a first-time buyer. While most lenders expect applicants not to have previously owned a residential property, additional requirements such as affordability, credit history, deposit size, and residency status will also be considered. Criteria can vary from one lender to another.
Government schemes and tax reliefs use their own definition of a first-time buyer. In general, you must not have owned a residential property anywhere in the world before. Eligibility for schemes and Stamp Duty Land Tax relief depends on the official rules in force at the time of purchase.
If you're buying with another person, first-time buyer benefits may only apply if every applicant meets the relevant first-time buyer definition. If one applicant has previously owned a property, certain reliefs or schemes may no longer be available.
One of the most common questions buyers ask is how much deposit do I need for a first time buyer. The answer is usually 5% to start with, though some lenders may want 10% or more depending on the property and the applicant’s profile. A 5% deposit means you are borrowing 95% of the property value, which is why people often refer to this as a 95% mortgage.
In simple terms, the smaller the deposit, the bigger the loan-to-value ratio, and the more cautious lenders tend to be. A larger deposit can improve your chances of approval and sometimes unlock better rates, but that does not mean a smaller deposit is impossible. In fact, many buyers still get onto the ladder with a mortgage for first time buyers built around a low deposit structure, especially if they have steady income and a clean credit history.
There is no magic number that works for everyone. The key is to compare the property price, your savings, and the monthly repayment you can truly afford. A mortgage is not only about qualifying today; it is about staying comfortable with the payments after completion as well.
Based on a £250,000 property price
95% mortgage · Lower upfront
cost, but rates may be higher.
90% mortgage · More lender options and potentially better rates.
85% mortgage · Lower borrowing and stronger rate options.
Not interested in first-time buyer mortgage? Find other options that meet your needs.
Buying your first home can feel overwhelming, but the right mortgage makes the process much clearer. We help you understand deposit requirements, affordability checks, and the options available to first-time buyers.
If you are upsizing, downsizing, or relocating, a moving home mortgage can help you transition smoothly to your next property. We guide you through porting, borrowing, and timing considerations.
A remortgage can help you switch to a better deal, adjust your mortgage term, or release equity from your property. We compare suitable options based on your current situation and future plans.
Shared Ownership can be a practical route if you want to buy a share of a property and pay rent on the rest. We help you understand how the mortgage works and what lenders look for.
Buying a new build property can involve different lender criteria and timelines. We support buyers looking for mortgage options that work with new build homes and developer arrangements.
If you are eligible to purchase your council home through Right to Buy, we can help you understand the mortgage process and the financial steps involved.
If you are exploring options with little or no deposit, we can help you understand specialist routes that may be available depending on lender criteria and affordability.
A low deposit mortgage can be a suitable option for buyers who have not yet built a large deposit but are ready to move forward. We help you compare products that may fit your budget and profile.
If you are wondering how lenders work out borrowing, the process is more detailed than a simple salary multiple. A lender will usually look at your income, regular spending, existing debts, dependants, employment status, and credit history. This is why the answer to can I get a mortgage as a first time buyer is not the same for everyone, even if two people earn the same salary.
A lender may offer a rough estimate based on your income, but the final decision is usually based on affordability testing. That means the lender wants to know how the mortgage would behave not just today, but if circumstances change over time. Some lenders may be more generous than others, and some products allow stronger borrowing for certain profiles, but there is no universal guarantee.
A helpful way to think about it is this: the more predictable your finances are, the easier it is for a lender to assess you. Regular income, controlled debt, and a stable bank statement pattern all help. This is also why getting a Decision in Principle can be useful early on. It does not guarantee the final mortgage, but it gives you a realistic starting point before you begin house hunting seriously.
Lenders review several parts of your financial profile before giving a mortgage estimate or decision.
Income
Salary, self-employed income, bonuses and other reliable earnings.
Expenses
Monthly bills, loans, dependants and regular commitments.
Credit file
Repayment history, existing credit and your overall credit profile.
Affordability check
A check that mortgage payments remain manageable over time.
Decision in Principle
A realistic indication of what you may be able to borrow.
Please note: A Decision in Principle is not a mortgage offer or a guarantee of approval.
Many buyers focus so heavily on the deposit that they underestimate the rest of the budget. In reality, first time buyer mortgage costs include much more than the money you put down on the property. You will usually need to plan for legal fees, conveyancing, searches, valuation costs, survey fees, mortgage arrangement fees, and moving costs. You may also need to budget for buildings insurance, furniture, redecorating, and the first few months of household set-up.
If the property is leasehold, there may be service charges or ground rent to consider as well. If stamp duty applies, that needs to be in the budget too. Even when a first-time buyer receives some tax relief, it is still sensible to check the latest figures carefully rather than assuming the bill will be zero. The same is true for government schemes and incentives: useful when they apply, but not something to build your entire plan around without checking the rules.
This is often where first-time buyers feel the pinch. The deposit is visible. The rest of the costs are easier to forget. But lenders and solicitors will not forget them, and neither should you.
The choice of mortgage type matters just as much as the deposit. For many first-time buyers, the most popular option is a fixed-rate mortgage because it gives payment certainty for a set period. That can be helpful when you are trying to manage a new household budget.
A tracker mortgage, on the other hand, moves in line with the lender’s chosen base rate reference, which can be attractive in some market conditions but less predictable. Variable-rate and discount mortgages can also be available, though they are usually better understood by buyers who are comfortable with some level of movement in the monthly payment.
Your interest rate and monthly payments stay the same for an agreed period.
Your mortgage rate tracks a reference rate, often the Bank of England base rate.
The lender can change the interest rate, meaning your payments may go up or down.
A temporary discount is applied to the lender's standard variable rate.
When deciding, it helps to focus less on which option looks cheapest in the first month and more on how the deal behaves over time. The interest rate, deal length, early repayment charges, and what happens after the initial period all matter.
A lower headline rate does not automatically mean the best choice if the structure creates stress later. For a first-time buyer, stability often has real value.
Remember: Check whether your mortgage has early repayment charges (ERCs), how long the introductory deal lasts, and what rate you will move onto when the deal ends.
There are a few support routes that can help depending on your situation. One of the most talked-about options is the Lifetime ISA, which can help eligible buyers save toward a first home with a government bonus. First Homes is another scheme that may allow buyers in England to purchase eligible homes at a discount to market value, subject to eligibility rules. Some buyers also benefit from gifted deposits from family, which can make a real difference if the paperwork is handled properly.
These options can be helpful, but they are not automatic. Each has its own rules, timing issues, and eligibility conditions. That is why it is important to check the latest official guidance rather than assuming a scheme applies in your case. The best approach is to treat support as a boost, not as a substitute for solid affordability.
A Lifetime ISA (LISA) can help eligible first-time buyers save for a first home. You can usually receive a government bonus on qualifying savings, subject to the scheme rules and annual limits.
There are conditions around age, account opening dates, property price limits and how long the account has been open. Check the latest official guidance before relying on it as part of your deposit plan.
First Homes is a scheme in England that may allow eligible buyers to purchase selected new-build homes at a discount from market value.
Availability varies by area and eligibility rules can include local connection requirements, household income limits and property price caps. Ask the developer, local authority or mortgage adviser about current availability and criteria.
A gifted deposit is money given to you, often by a family member, to help with your home purchase. Your lender and solicitor will usually need clear evidence of where the money came from.
The person giving the gift may need to sign a declaration confirming that the money does not need to be repaid and that they will not own a share of the property, unless another arrangement is agreed.
Buying with another person may increase the combined income considered by a lender and can make it easier to share deposit and household costs.
However, both applicants are usually responsible for the mortgage. It is important to understand ownership arrangements and consider legal advice, especially if you are contributing different amounts.
The first time buyer mortgage application process is easier to understand when it is broken into stages. It usually begins with reviewing your finances and checking your credit file. From there, you set a realistic budget, gather your documents, and apply for a Decision in Principle. Once you have found a property and your offer is accepted, the full mortgage application begins. The lender then carries out underwriting and valuation checks before issuing a mortgage offer, assuming everything is in order.
After that, your solicitor or conveyancer handles the legal side, which includes searches, contract review, and the final steps leading to exchange and completion. This process can take several weeks or longer depending on the chain, lender speed, and whether any issues appear during valuation or legal work.
The important thing to remember is that speed matters, but accuracy matters more. Rushing the application before your documents are ready can create delays later. First-time buyers often benefit from preparing early, even before they start viewing properties, because being organised makes the whole process feel much less overwhelming.
Check your income, spending, savings and credit file.
Work out a realistic property price and monthly payment.
Gather ID, payslips, bank statements and deposit evidence.
Get an indication of how much you may be able to borrow.
View homes, make an offer and agree a purchase price.
Your lender reviews affordability and supporting documents.
The lender values the home while searches are completed.
Exchange contracts, complete the purchase and collect the keys.
If you want to strengthen your mortgage application, start with your finances well before you apply. Reduce unnecessary debt where practical, manage your accounts responsibly, and avoid taking on new credit shortly before an application unless it is genuinely necessary. Check your credit file for errors and have any inaccuracies corrected early. If your deposit comes from savings, a gifted deposit or another source, make sure there is a clear paper trail showing where the funds have come from.
Financial stability can also support a stronger application. Lenders will usually look at the consistency of your employment, income, existing commitments and overall account conduct when assessing affordability. You do not need a perfect financial history, but new borrowing, increasing reliance on an overdraft or significant unexplained transactions may lead to additional questions during underwriting. Speaking to a mortgage adviser early can help you understand what evidence may be required and resolve avoidable issues before you submit the full application.
Many buyers choose to work with a broker because it can save time, reduce confusion, and improve the chances of matching with the right lender. A broker can help explain which first time buyer mortgage lender may suit your circumstances, whether you are best served by a mainstream high-street name or a more flexible specialist route. This is especially useful if your income is non-standard, your deposit is gifted, or your credit profile needs a little more care.
That said, it is always worth understanding the fees and service level before you proceed. Some brokers charge a fee, some are paid by the lender, and some use a mix of both. What matters is that you know what you are getting and that the advice is properly regulated. For a first-time buyer, a good broker often acts less like a salesperson and more like a translator, turning an intimidating process into a sequence of manageable steps.
The first home journey is rarely simple, but it becomes much easier when you understand the moving parts. A strong deposit helps, but it is only one piece of the puzzle. So do affordability, credit history, mortgage type, and the costs that sit around the mortgage itself.
If you are approaching this for the first time, the goal is not to know everything instantly. The goal is to make informed decisions in the right order.
The biggest breakthrough often comes from moving from
uncertainty to clarity.
Once you know your budget, your likely borrowing range, and the kind of mortgage that fits your situation, the path forward becomes much more realistic. That is what this first time buyer mortgage guide is meant to do: give you a practical understanding of the process so you can buy your first home with more confidence and fewer surprises.
Director and Founder of PBSBrokers
CeMAP Qualified Mortgage Adviser
At PBSbrokers, we offer a free initial consultation to review your income, deposit, affordability, credit profile, and mortgage objectives. Whether your case is straightforward or more complex, we'll help you understand the options that may be available and guide you through the next steps.
