Buying your first home is an incredibly exciting time, but it can sometimes seem like a bit of a daunting prospect. As the largest purchase you are likely to make, it’s important that you fully understand the process and costs involved, and get a first time buyer’s mortgage that fits your circumstances.
A mortgage for first time buyers isn’t impossible. Check out the different types of mortgage schemes and mortgage offers for first time buyers below. If you would like to quickly understand how much you could borrow, complete our first time buyer calculator.
Our calculator is designed to make things easier for you, giving you a quick guide on how much you can borrow for any residential mortgage.
We take live information from nearly every mortgage lender in the market to give you an idea of your personal mortgage affordability, based on your income and outgoings.
All you need to do is fill in your information and your mortgage affordability will be displayed to you in a matter of minutes.
There are so many different options when it comes to mortgages for first time buyers, which is why it is always advisable to seek independent mortgage advice as early as possible in the process – that’s where we come in.
At Key Solutions we’ve helped secure thousands of great mortgage deals for first time buyers and take their first steps onto the property ladder. We will be with you every step of the way – from your initial enquiry all the way through to the day you get your keys. Getting a mortgage for a first time buyer and knowing we have helped you buy your dream home is everything to us!
Any amount of savings towards a deposit is something you should be proud of! But if you’re finding it difficult to save more than 5% for a deposit, we have access to first time buyer mortgages that can help. As a whole-of-market broker, we can secure you a mortgage that works for your first home.
Not sure where to start? Check out our First Time Buyer Guide for tips on getting your finances mortgage ready! Our mortgage calculator can also help you plan your monthly payments.
If you can’t afford a deposit of more than 5%, you may be eligible for the help to buy scheme when purchasing your new build property.
Are you a young professional? At Key Solutions we work with a number of specialists to ensure you secure the funding you need to buy your first home.
If your parents or grandparents are able and willing to help you onto the property ladder we can ensure we find the most suitable mortgage product for you.
If struggling to save a big enough deposit due to the value of the property and are a key worker our expert advisers may be able to access a discount scheme operated by new build developers
Whether you are self-employed or freelance, we can help you find the right lender willing to provide you with the finance you need to purchase a property.
Have you had problems with credit, such as missed or late payments? Our experienced team has access to a variety of specialist lenders who focus on offering mortgages designed to help you.
If you want a mortgage that offers some flexibility our team of expert mortgage advisers can make recommendations on your individual circumstances.
We'll work with you to find a mortgage that fits your specific needs and circumstances. We even guarantee your mortgage and that you will be happy, or your money back!
Before diving into specific properties, understanding your affordability is crucial. As a first time buyer, we’ll help you assess your income and expenses, review your credit score and understand how much you will need to save for a deposit.
When you apply for a Mortgage in Principle, you’ll get an official estimate of the amount you can borrow, strengthening your offer and giving you peace of mind during negotiations.
We'll present various mortgage options that are not only the best first time buyer options on the market, but also tailored to your specific needs and financial situation. When choosing, you should consider factors like interest rates, fixed vs. variable rates, and repayment terms.
Now you’re ready to submit your first mortgage application! This typically involves providing income proof, bank statements, and identification. We'll ensure all documents are compiled accurately and submitted promptly.
Once we've chosen the best first time buyer mortgage deal for you, our advisors will be with you through each step of the way, until you’ve successfully been accepted on your first home!
We know navigating the process can feel overwhelming, but you’re not alone. This section is packed with helpful guides and resources to empower you on your journey.
Whether you’re just starting your research or nearing the finish line, we’re here to support you every step of the way.
When you are buying your first home you might be wondering if a bad credit score can affect the possibility of you getting a mortgage.
If you're looking for mortgage deals as a first time buyer without any savings or deposit, your dreams might feel out of reach!
If you’re getting ready to make the leap and buy your first house we’re here to take you through everything you need to know about Stamp Duty costs and when you need to pay.
There are steps you need to take when buying your first home; including getting a mortgage in principle.
We’ve pulled together a list of all the paperwork that lenders may ask for, so that you can be prepared before you start the process!
Understanding the types of mortgages out there, and figuring out the right type of mortgage for you is crucial is a first time buyer!
Separating the truth from the fiction isn’t the easiest, especially when some of these mortgage myths have been around since your parents bought their first house!
In this guide, we explore what happens after a house survey, how much a house survey costs, and do you have to have a survey when buying a house in the first place?
If we say you qualify for a mortgage, then we will stand by that decision and provide you with a 100% mortgage guarantee to you that you can get the funding you require. If we don’t, we will refund any associated cost you have incurred.
Our advice to you is backed by our unique unconditional service guarantee which means if you are not happy with the service that we provide, just tell us why and we will immediately refund any fees that you have paid us.
As a trusted whole-of-market broker, we have access to nearly every mortgage product on the market as well as access to exclusive rates you won't get by going direct to a bank.
We will complete all research, administration and chasing on your behalf so you don’t have to worry about a thing! So leave it with us and your new mortgage offer will be with you quicker than you know it!
To find out more and to let us help you with your mortgage and protection needs please give
us a call us on 0800 138 5856 or get in touch below.
To qualify as a first-time home buyer, you generally need to meet the following criteria:
The definition of a first-time buyer can vary slightly depending on the specific context, but generally refers to someone who has never owned a residential property before, either solely or jointly. This includes individuals, couples, or even some types of trusts.
Completion day is when the legal ownership of the property transfers from the seller to you. This typically involves signing final paperwork, exchanging keys, and paying the remaining balance of the purchase price. Your conveyancer will guide you through the process and ensure everything runs smoothly.
Buying your first home involves several steps:
Generally, anyone who has never owned a residential property before, either solely or jointly, qualifies as a first-time buyer. This includes individuals, couples, or even some types of trusts. However, specific requirements may vary depending on government schemes or individual lenders.
The “best” mortgage depends on your individual circumstances and financial goals. Consider factors like interest rates, fixed vs. variable rates, repayment terms, and any government incentives available for first-time buyers. We recommend consulting a mortgage broker to discuss your options and find the best fit for you.
The minimum deposit required varies depending on the lender and your chosen mortgage product. While some lenders offer mortgages with a 5% deposit, aiming for a larger deposit (10% or more) can unlock better interest rates and save you money in the long run.
Anyone who has never owned a residential property before, either solely or jointly, is generally considered a first-time buyer. This includes individuals, couples, or even some types of trusts. However, specific requirements may vary depending on the context.