First-Time Buyer Mortgage Advice

Most lenders look for at least 5% of the property value, and a larger deposit (typically 10–15%) usually opens up better interest rates. Your adviser will help you understand what's realistic based on your income, outgoings and timescales, and whether schemes like shared ownership or a Lifetime ISA could help.

A mortgage in principle (sometimes called an agreement in principle) is an indicative statement from a lender showing how much they may be willing to lend you. It's useful when making offers — estate agents and sellers will take you more seriously — but it isn't a guarantee of the final loan.

Yes — many lenders will consider self-employed, contractor and variable-income applicants. Most ask for 1–3 years of accounts or SA302s. We work with a broad panel of lenders and can match your circumstances to those most likely to lend.

Typical extras include stamp duty (first-time buyers currently get relief on properties up to £300,000 in England), legal fees of roughly £1,000–£1,500, a survey of around £300–£600, and moving costs. Your adviser will walk through a full cost breakdown before you commit.

From submitting a full application to legal completion typically takes 8–12 weeks, though it can be faster or slower depending on the lender, valuer and conveyancing chain. Having documents ready upfront and replying quickly to information requests is the single biggest factor in keeping things moving.