First-Time Buyer Mortgages

Straightforward mortgage advice for your first home

Buying your first home is an exciting milestone, but it can also feel like there is a lot to understand at once.

You may be wondering:

• How much can I borrow?

• How large a deposit will I need?

• What is an Agreement in Principle?

• Which mortgage should I choose?

• What happens after my offer is accepted?

• What other costs do I need to budget for?

You do not need to know all the answers before speaking to a mortgage broker.

At Moveo Mortgages, we’ll take the time to understand your circumstances, explain the mortgage process in straightforward language and help you prepare for each stage of your purchase.

We’ll research suitable mortgage options within the scope of our service and explain what we recommend, why we believe it is suitable and anything you should consider before deciding whether to proceed.

There are no silly questions and no expectation that you already understand lender criteria or mortgage terminology.

Just clear, personal advice to help you take your first step onto the property ladder with greater confidence.

Move forward with Moveo.

Helping you make informed mortgage decisions with confidence.

Book your initial consultation
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Find the Information You Need

Use the links below to move directly to the section most relevant to you:

• What is a first-time buyer mortgage?

• When should you speak to a mortgage broker?

• How much could you borrow?

• How much deposit will you need?

• Buying with a 5% deposit

• Gifted deposits and family support

• Agreements in Principle

• The first-time buyer mortgage process

• What lenders consider

• Getting a mortgage if you are self-employed

• Buying with previous credit difficulties

• Choosing a mortgage

• Longer mortgage terms

• New-build mortgages

• Flats and leasehold properties

• Shared ownership

• First-time buyer schemes

• The costs of buying your first home

• Protection for your home, income and family

• Why choose Moveo Mortgages?

• Frequently asked questions

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What Is a First-Time Buyer Mortgage?

A first-time buyer mortgage is a mortgage used by someone purchasing their first residential property.

It is not necessarily a completely separate type of mortgage. Many of the same fixed-rate, tracker and variable-rate products available to other homebuyers may also be available to first-time buyers.

However, some lenders offer products or incentives specifically aimed at people purchasing for the first time.

Depending on the lender and product, these might include:

• mortgages available with a smaller deposit

• cashback

• a free or assisted valuation

• contributions towards legal costs

• products designed for gifted deposits

• family-supported mortgage arrangements

The presence of an incentive does not automatically make a mortgage the most suitable option.

The interest rate, product fee, early repayment charge, monthly payment and overall cost must all be considered alongside any benefit offered.

Our role is to assess the complete product rather than choosing a mortgage because of one headline feature.

When Should You Speak to a Mortgage Broker?

You do not need to wait until you have found a property.

Speaking to a mortgage broker before serious viewings can help you understand:

• your potential borrowing

• the deposit you may need

• your likely monthly payments

• the documents that may be required

• whether anything should be addressed before applying

• how your employment or income could be assessed

• whether an Agreement in Principle may be appropriate

This can help you focus your property search on a realistic price range.

It may also place you in a stronger position when you find a suitable home, because you will have a clearer understanding of your finances and what happens next.

An early conversation does not commit you to buying immediately.

Sometimes the most helpful outcome is simply knowing what you need to do over the next few months before you are ready.

How Much Could You Borrow?

There is no single borrowing multiple that applies to every first-time buyer.

A lender will normally consider your income alongside your regular commitments and household circumstances.

Its affordability assessment may include:

• basic salary

• overtime, commission or bonuses

• self-employed income

• loans and credit-card commitments

• car finance

• student-loan deductions

• childcare costs

• dependants

• household expenditure

• the proposed mortgage term

• your expected position during retirement, where relevant

Lenders can assess the same household differently.

One lender may accept a greater proportion of variable income. Another may take a different approach to childcare, student loans, business income or the proposed mortgage term.

MoneyHelper explains that lenders consider household income, regular spending and debts, and may also assess whether the mortgage would remain affordable if circumstances or interest rates changed.

We’ll take the time to understand your complete circumstances and provide a realistic indication of what may be achievable.

What You Can Borrow and What You Should Borrow

The maximum amount available is not necessarily the amount you will feel comfortable borrowing.

Your own budget should also allow for:

• council tax

• utilities

• insurance

• maintenance and repairs

• travel

• food and everyday spending

• savings

• possible changes in income or expenditure

We’ll discuss the monthly payment as well as the total borrowing, helping you consider whether the mortgage fits your wider finances and plans.

How Much Deposit Will You Need?

Your deposit is the part of the purchase price you provide yourself.

The mortgage covers the remaining amount.

For example, if a home costs £250,000 and you provide a £25,000 deposit, you would require a £225,000 mortgage. This represents a 90% loan-to-value mortgage.

Some mortgages may be available with a deposit of 5%, subject to the applicant, property, product and lender criteria. A deposit of 10% or more may provide access to a wider range of options, but this cannot be assumed in every case.

MoneyHelper states that many mortgages require a deposit of at least 5% to 10%, with a larger deposit potentially improving the products available and reducing the amount borrowed.

Why the Deposit Matters

Your deposit affects the mortgage’s loan-to-value.

A lower loan-to-value may:

• reduce the amount you need to borrow

• provide access to different products

• reduce the monthly payment

• provide a larger buffer if property values fall

However, it may not always be sensible to use every pound of savings towards the deposit.

You may still need money for:

• legal costs

• surveys

• product fees

• moving expenses

• furnishings

• immediate repairs

• an emergency fund

We’ll help you consider the mortgage deposit alongside the wider cost of purchasing.

Buying With a 5% Deposit

Low-deposit mortgages can help some first-time buyers purchase sooner.

The permanent Mortgage Guarantee Scheme has supported the continued availability of eligible 91% to 95% loan-to-value mortgages since July 2025, allowing qualifying first-time buyers and home movers to purchase with a deposit as small as 5%. The scheme does not guarantee that an individual applicant will be accepted, and lenders remain responsible for their own affordability, credit and property assessments.

A 5% deposit mortgage may involve:

• a higher interest rate than a lower loan-to-value product

• fewer lender or product options

• stricter affordability or credit criteria

• greater exposure to negative equity if property values fall

• higher monthly payments because more is being borrowed

We’ll explain the advantages and considerations so you can decide whether purchasing with a smaller deposit or continuing to save appears more appropriate for your circumstances.

Gifted Deposits and Family Support

Many first-time buyers receive help from a parent, grandparent or another family member.

A gifted deposit is usually money provided towards the purchase with no expectation that it will be repaid and no ownership interest being taken in the property.

The lender may require:

• a signed gifted-deposit declaration

• identification from the person providing the money

• evidence showing the source of the funds

• bank statements showing the transfer

• confirmation that the gift is not a loan

• confirmation that the donor will not own part of the property

Requirements vary between lenders.

It is important to explain the arrangement accurately from the beginning.

Is the Money a Gift or a Loan?

If the money must be repaid, it is not a straightforward gifted deposit.

A family loan could affect:

• affordability

• lender acceptance

• the legal ownership arrangement

• the lender’s security over the property

We’ll discuss the proposed arrangement before submitting an application.

Buying With Family

Some first-time buyers purchase jointly with a partner, sibling, friend or parent.

Others explore mortgage products in which family income or savings provide support without the family member becoming a long-term owner.

The available options and risks vary considerably.

Everyone involved should understand:

• who owns the property

• who is responsible for the mortgage

• what happens if someone wants to leave the arrangement

• how sale proceeds would be divided

• the effect on future property purchases

• any legal and tax implications

Independent legal advice may be appropriate.

What Is an Agreement in Principle?

An Agreement in Principle may also be called:

• a Decision in Principle

• a Mortgage in Principle

• an AIP, DIP or MIP

It is an initial indication of how much a lender may be prepared to lend, based on the information provided and the checks it carries out.

It is not a formal mortgage offer and does not guarantee approval.

The full application will still be subject to:

• verification of your income and circumstances

• affordability checks

• a credit assessment

• supporting documents

• the property valuation

• the lender’s criteria at the time of application

An Agreement in Principle can help establish a realistic price range and may be requested by an estate agent before an offer is treated as proceedable.

MoneyHelper notes that an Agreement in Principle is generally an indication rather than a formal offer and is commonly valid for a limited period.

Does It Affect Your Credit Record?

The type of credit search used can vary by lender.

Some lenders use a soft search at the Agreement in Principle stage, while others may use a hard search.

We’ll explain the likely approach before an application is made.

Read our Agreement in Principle guide.
Internal link: Agreement in Principle Guide

The First-Time Buyer Mortgage Process

Every purchase is different, but the mortgage journey will usually follow these stages.

1. Initial Conversation

We’ll discuss:

• what you are hoping to buy

• your income and employment

• your deposit

• existing commitments

• your expected timescale

• any questions or concerns

This helps establish whether you appear ready to proceed and what preparation may be required.

2. Initial Consultation and Fact-Find

If you choose Moveo Mortgages as your broker, we’ll arrange a detailed consultation, normally by Zoom.

We’ll collect the information needed to understand your circumstances and objectives.

3. Agreement in Principle

Where appropriate, we’ll identify a suitable lender and apply for an Agreement in Principle.

This can help you understand your potential budget before making an offer.

4. Finding a Property

You can begin or continue your property search with a clearer understanding of the likely mortgage position.

Remember that the property itself must also meet the lender’s criteria.

5. Making an Offer

Your offer will normally be made through the estate agent.

You should make it clear that the offer is subject to contract, survey and mortgage approval.

6. Full Mortgage Recommendation

Once you have found a property and the relevant information is available, we’ll conduct our research and present our mortgage recommendation.

We’ll explain:

• which mortgage we recommend

• why we believe it is suitable

• the interest rate and initial period

• the monthly payment

• product fees

• early repayment charges

• relevant incentives

• anything else you should consider

7. Mortgage Application

If you are happy to proceed, we’ll prepare and submit the application.

We’ll explain which supporting documents are needed and keep you informed while the lender assesses it.

8. Valuation and Underwriting

The lender will assess:

• your income and affordability

• credit history

• supporting evidence

• the property being purchased

It may request additional information.

The lender’s valuation is primarily for its own purposes and may not identify every defect. You should consider whether an independent homebuyer or building survey is appropriate.

9. Mortgage Offer

If the lender is satisfied with the borrower and property, it may issue a formal mortgage offer.

We’ll contact you and explain what normally happens next.

10. Legal Work, Exchange and Completion

Your solicitor or conveyancer will complete the legal checks and explain the contract.

In England and Wales, exchange of contracts is normally the point at which the purchase becomes legally binding.

Completion is when the purchase funds are transferred and you become the owner.

The precise legal process differs across the UK, so your solicitor will guide you based on where you are buying.

Read our complete Mortgage Process guide.
Internal link: Mortgage Process

What Documents Might You Need?

The precise documents depend on the lender and your circumstances.

You may be asked for:

• a passport or driving licence

• proof of address

• recent payslips

• a P60

• recent bank statements

• evidence of savings and deposit funds

• a gifted-deposit declaration

• details of loans and credit commitments

• evidence of bonuses, overtime or commission

• accounts and tax documents if self-employed

• evidence connected with the property

MoneyHelper’s current guidance lists common examples including identification, payslips, P60s, bank statements, accounts or tax documents for self-employed applicants, and evidence of the deposit. It also notes that lenders can request additional paperwork.

We’ll provide a personalised document list rather than assuming the same evidence applies to everyone.

Keep the Information Accurate

The figures on the application should match the supporting evidence.

Avoid:

• rounding up income

• leaving out credit commitments

• describing borrowed money as a gift

• moving deposit funds without retaining evidence of their source

• taking new credit without discussing the potential mortgage effect

Tell us if anything changes before completion.

What Do Mortgage Lenders Consider?

A lender assesses both the applicant and the property.

Income

The lender will consider whether your income is acceptable and sustainable.

This may include:

• salary

• overtime

• bonuses

• commission

• self-employed profit

• dividends

• contract income

• certain benefits or other income

The amount accepted and evidence required vary.

Affordability

The lender will compare income with expenditure and financial commitments.

It may consider:

• loans

• credit cards

• car finance

• childcare

• dependants

• maintenance payments

• regular household costs

Credit History

The lender may consider:

• payment history

• missed or late payments

• defaults

• county court judgments

• insolvency

• current debt levels

• electoral-roll information

• the number of recent credit applications

There is no universal credit score required for every mortgage.

Each lender applies its own assessment.

Deposit

The amount and source of the deposit matter.

The lender will normally need evidence showing where the money came from.

Property

The property must be acceptable security.

Relevant issues can include:

• construction

• condition

• valuation

• lease length

• service charges

• location

• commercial use

• new-build status

• planned renovation

Getting a First Mortgage When You Are Self-Employed

Being self-employed does not automatically prevent you from buying your first home.

Lenders may simply require different evidence.

Depending on your business structure, this could include:

• accounts

• tax calculations and tax year overviews

• salary and dividends

• net profit

• partnership income

• contracts

• business bank statements

Lenders do not all assess self-employed income in the same way.

Some may average figures over a period. Others may consider the latest year or company profit in suitable circumstances.

We’ll take the time to understand how your business operates before researching the options.

Read our Self-Employed Mortgages guide.
Internal link: Self-Employed Mortgages

Read our Limited Company Director Mortgages guide.
Internal link: Limited Company Director Mortgages

Buying With Previous Credit Difficulties

Previous credit difficulties do not automatically mean that you cannot obtain a mortgage.

The available options will depend on matters including:

• the type of credit issue

• how long ago it occurred

• the amount involved

• whether it has been settled

• the circumstances surrounding it

• your current credit conduct

• income and affordability

• the deposit

• lender criteria

Do not assume that an online credit score alone determines whether you will be accepted.

Reviewing your credit reports before applying can help identify incorrect or unexpected information.

Avoid making repeated mortgage applications without understanding why an earlier application was unsuccessful, as additional searches may not improve the position.

Read our Adverse Credit Mortgages guide.
Internal link: Adverse Credit Mortgages

Choosing a First-Time Buyer Mortgage

Most first-time buyers use a capital-and-interest repayment mortgage.

Your monthly payment covers interest and repays part of the original amount borrowed, with the aim of clearing the mortgage by the end of the term if all required payments are made.

You will also need to consider how the interest rate is set.

Fixed-Rate Mortgages

A fixed-rate mortgage keeps the interest rate unchanged for an initial period.

This can make monthly budgeting more predictable.

However:

• early repayment charges may apply

• the rate will not reduce if market rates fall

• you will need to review your options when the fixed period ends

Tracker Mortgages

A tracker mortgage usually follows an external rate, commonly the Bank of England base rate, plus a set margin.

The payment may rise or fall as the tracked rate changes.

This may provide flexibility in some cases, but you must be comfortable with the possibility of increased payments.

Other Variable-Rate Mortgages

Other variable products may be linked to a lender’s own variable rate.

The lender may be able to change that rate in accordance with the mortgage terms.

Product Fees and Incentives

A mortgage with a lower rate may have a larger product fee.

Another may include cashback, a valuation or legal assistance but charge a higher rate.

We’ll compare the complete cost and features rather than selecting a mortgage using the rate alone.

Longer Mortgage Terms

A longer mortgage term can reduce the required monthly payment because the borrowing is repaid over more years.

However, it will usually increase the total interest paid if the mortgage remains in place for the full term.

MoneyHelper notes that some first-time buyers are considering terms of up to 40 years, but a longer term can mean paying substantially more interest overall.

We’ll consider:

• your age

• expected retirement

• monthly budget

• total mortgage cost

• ability to make overpayments

• future plans

A longer term may provide useful affordability, but the immediate monthly saving should be considered alongside the long-term cost.

New-Build Mortgages

Buying a newly built home can involve different timescales from purchasing an established property.

You may need to consider:

• a reservation fee

• the developer’s exchange deadline

• the expected completion date

• the mortgage-offer expiry date

• construction delays

• structural warranties

• developer incentives

• estate or service charges

Developer Incentives

Any developer contribution or incentive must normally be disclosed to the lender and solicitor.

It may affect the lender’s valuation or maximum mortgage.

Mortgage-Offer Expiry

If completion is several months away, the mortgage offer may expire before the home is ready.

An extension might be possible, but it cannot be assumed.

Read our New-Build Mortgages guide.
Internal link: New-Build Mortgages

Buying a Flat or Leasehold Property

Many first-time buyers begin with an apartment or converted flat.

Where a property is leasehold, the lender may consider:

• the remaining lease term

• ground-rent provisions

• service charges

• the management company or freeholder

• planned major works

• building insurance

• the building’s construction

• commercial premises within the development

• external-wall information, where relevant

Your solicitor will advise on the legal terms of the lease.

We’ll help you understand any mortgage requirements raised by the lender.

Service Charges

A service charge may be included as an ongoing commitment within the lender’s affordability assessment.

It must also be included in your personal budget alongside:

• the mortgage

• council tax

• utilities

• insurance

• other household costs

Shared Ownership

Shared ownership may help an eligible buyer purchase a share of a property and pay rent to a provider on the remaining share.

In England, buyers normally purchase between 10% and 75% of the home, although the available share varies by property. A deposit is normally required against the share being purchased, and rent and usually service charges are payable in addition to the mortgage. Shared ownership homes are leasehold. Different arrangements apply in Scotland, Wales and Northern Ireland.

Shared ownership can reduce the mortgage and deposit required for the initial purchase, but you should consider the complete monthly and long-term cost.

This may include:

• mortgage payments

• rent

• service charges

• estate charges

• repairs and maintenance

• fees for buying further shares

• selling restrictions and costs

Buying further shares is known as staircasing.

Your solicitor should explain the lease and your rights and responsibilities.

Read our Shared Ownership Mortgages guide.
Internal link: Shared Ownership Mortgages

First-Time Buyer Schemes and Savings Support

Schemes and eligibility rules can change, and not every option is available in every area.

We’ll explain relevant mortgage considerations, but you should also check current government and scheme-provider guidance.

Lifetime ISA

A Lifetime ISA can be used to save for a first home or later life.

You can currently contribute up to £4,000 each tax year, and the government adds a 25% bonus, up to £1,000 a year. The first payment must be made before the saver turns 40.

For a charge-free first-home withdrawal, the current rules include:

• the property must cost £450,000 or less

• at least 12 months must have passed since the first payment

• the purchase must be with a mortgage

• the home must be intended as the buyer’s main residence

• the funds must be paid through an eligible conveyancer

A 25% withdrawal charge normally applies if the money is withdrawn for another reason before the permitted age or circumstances.

First Homes

The First Homes scheme is available in England on eligible properties.

Qualifying first-time buyers may be able to purchase at a discount of 30% to 50% from market value. Income limits, mortgage requirements and possible local eligibility rules apply. The property must be the buyer’s only or main residence.

Availability depends on suitable First Homes properties being offered locally.

Mortgage Guarantee Scheme

The permanent Mortgage Guarantee Scheme supports participating lenders in offering eligible 91% to 95% loan-to-value mortgages throughout the UK.

It supports product availability but does not provide the deposit to the buyer or guarantee that an application will be approved.

Shared Ownership

Shared ownership is another potential route for eligible buyers who cannot afford the deposit and mortgage payments required to purchase a suitable home outright.

The scheme involves purchasing a share and paying rent on the remainder.

The Costs of Buying Your First Home

Your deposit is not the only upfront cost.

The amount required will depend on the property, mortgage and location.

Potential costs include:

• property tax

• solicitor or conveyancer fees

• searches

• mortgage product fees

• valuation fees

• an independent survey

• removals

• buildings insurance

• leasehold or management costs

• initial repairs and furnishings

Stamp Duty Land Tax

For qualifying first-time buyers purchasing a main residence in England or Northern Ireland, current First-Time Buyers’ Relief provides:

• 0% SDLT on the first £300,000

• 5% on the portion from £300,001 to £500,000

If the purchase price is more than £500,000, First-Time Buyers’ Relief does not apply and the standard rates are used on the full purchase. Everyone purchasing together must meet the first-time buyer conditions.

Scotland and Wales use different property-tax systems.

Your solicitor or tax adviser should confirm the amount payable based on where you are purchasing and your individual circumstances.

Mortgage Fees

Potential mortgage-related costs can include:

• a product or arrangement fee

• a valuation fee

• a booking fee

• a broker fee

• electronic transfer fees

Some fees can potentially be added to the mortgage, subject to the lender and product.

Adding a fee to the mortgage means interest may be charged on it.

Survey Costs

A lender’s valuation is not a comprehensive survey for the buyer.

Depending on the property, you may wish to obtain:

• a condition report

• a homebuyer survey

• a building survey

• specialist structural or other reports

Legal Costs

Your solicitor or conveyancer will complete the legal work, searches and transfer of ownership.

Request a clear quotation showing what is and is not included.

Protecting Your First Home

A mortgage is likely to become one of your largest financial commitments.

It is worth considering how the payments would be maintained if illness, injury or death affected your household’s income.

The appropriate conversation will depend on:

• whether you are buying alone or jointly

• whether anyone relies on your income

• your mortgage and other commitments

• workplace benefits

• existing cover

• your budget and priorities

Life Insurance

Life insurance can pay a benefit if the insured person dies during the policy term, subject to the terms and conditions.

It may be considered where another person could be financially affected by the death of the insured person.

Read our Life Insurance guide.
Internal link: Life Insurance

Critical Illness Cover

Critical illness cover can pay a benefit following diagnosis of a condition covered by the policy, provided the relevant definition and conditions are met.

Policies do not cover every illness.

Read our Critical Illness Cover guide.
Internal link: Critical Illness Cover

Income Protection

Income protection can provide a regular benefit if illness or injury prevents the insured person from working, subject to the policy terms.

This may be particularly relevant if you have limited employer sick pay or are self-employed.

Read our Income Protection guide.
Internal link: Income Protection

Protection is not treated as an automatic addition to every mortgage.

Any recommendation will be based on your individual circumstances, needs and objectives.

Why Choose Moveo Mortgages for Your First Home?

Buying your first home should feel exciting, not like a test of how much mortgage terminology you understand.

At Moveo Mortgages, we’ll provide:

A Personal Starting Point

Your initial enquiry can take place by Zoom, telephone or email.

We’ll listen to what you are trying to achieve and answer your general questions before you decide whether to proceed.

A Detailed Initial Consultation

If you choose Moveo Mortgages as your broker, we’ll complete a detailed fact-find, normally over Zoom.

This helps us understand your circumstances before carrying out our research.

A Clearly Explained Recommendation

We won’t simply present a mortgage product.

We’ll explain:

• what we recommend

• why we believe it is suitable

• the product’s main features

• the costs and restrictions

• anything you should consider

Support With the Application

If you are happy to proceed, we’ll prepare and submit the application, explain the documents required and keep you informed.

Responsive Communication

We aim to respond to enquiries within 24 hours.

You should not be left wondering where your application stands or who to contact with a question.

Support After Completion

We’ll contact you before your mortgage deal is due to end, giving you time to review your options.

Our aim is to become the adviser you feel comfortable returning to throughout your homeownership journey.

First-Time Buyer Mortgage Advice Across the UK

Moveo Mortgages provides remote mortgage and protection advice through Zoom, telephone and email.

We also have dedicated local information for buyers across Manchester, Cheshire and the surrounding areas.

Explore our location guides:

• Mortgage Broker Manchester
  Internal link: Mortgage Broker Manchester

• Mortgage Broker Cheshire
  Internal link: Mortgage Broker Cheshire

• Mortgage Broker Altrincham
  Internal link: Mortgage Broker Altrincham

• Mortgage Broker Hale
  Internal link: Mortgage Broker Hale

• Mortgage Broker Wilmslow
  Internal link: Mortgage Broker Wilmslow

• Mortgage Broker Didsbury
  Internal link: Mortgage Broker Didsbury

• Mortgage Broker Sale
  Internal link: Mortgage Broker Sale

• Mortgage Broker Knutsford
  Internal link: Mortgage Broker Knutsford

• Mortgage Broker Alderley Edge
  Internal link: Mortgage Broker Alderley Edge

Frequently Asked Questions

How do I know whether I am a first-time buyer?

You will usually be treated as a first-time buyer if you have never previously owned a residential property, whether in the UK or elsewhere.

Scheme and tax definitions can have specific rules, so your solicitor or relevant provider should confirm your status.

How much deposit do first-time buyers normally need?

Some mortgages may be available with a 5% deposit, subject to eligibility, property and lender criteria.

A larger deposit may provide access to different products and reduce the amount borrowed.

Can I get a mortgage with a 5% deposit?

Potentially.

Availability will depend on your income, affordability, credit history, property and lender criteria.

How much can I borrow?

This depends on your income, commitments, household expenditure, mortgage term and the lender’s affordability assessment.

We’ll review your circumstances and provide an indication of what may be achievable.

Can I get an Agreement in Principle before finding a property?

Yes, where appropriate.

This can help you understand your likely budget before making an offer.

Does an Agreement in Principle guarantee my mortgage?

No.

A formal offer remains subject to the lender’s full assessment, supporting evidence and approval of the property.

How long does an Agreement in Principle last?

The validity period varies by lender.

It may need to be renewed if it expires or if your circumstances change.

Can I get a mortgage if I am self-employed?

Potentially.

Lenders may require accounts, tax documents or other evidence, depending on your business structure and trading history.

Can I get a mortgage during a probationary period?

Potentially.

Some lenders can consider applicants during probation, subject to their criteria and the wider circumstances.

Can I use overtime, commission or bonuses?

Potentially.

The amount accepted and the required history vary between lenders.

Can my parents gift my deposit?

Potentially.

The lender will normally require evidence of the source and confirmation of the terms of the gift.

Can my parents lend me the deposit?

Possibly, but a repayable loan is assessed differently from a gift and may affect affordability or lender acceptance.

The arrangement should be disclosed before applying.

Can I buy with a partner who has owned property before?

Potentially.

You may still be able to obtain a mortgage, but your eligibility for first-time buyer tax relief or schemes could be affected.

Can I buy a property above £500,000 as a first-time buyer?

Yes, subject to affordability and lender criteria.

However, qualifying first-time buyer SDLT relief in England and Northern Ireland is not available where the purchase price exceeds £500,000 under the current rules.

Can I use a Lifetime ISA for any first home?

No.

Current conditions include a maximum property price of £450,000, a minimum 12-month period since the first payment and use of the home as your main residence.

Can I buy a new-build home with a small deposit?

Potentially.

New-build loan-to-value limits and criteria can differ between lenders and property types.

Can I get a mortgage on a flat?

Potentially.

The lender will assess the building, lease, service charges, construction and the applicant.

Can I get a mortgage with previous missed payments?

Potentially.

The available options will depend on what happened, when it happened and the rest of your circumstances.

How long does the mortgage process take?

Timescales vary according to the lender, applicant, property and wider transaction.

We’ll keep you informed and explain what is happening at each stage.

Do I need life insurance?

Life insurance is not automatically compulsory with every mortgage.

We’ll explain the relevant protection options and make a recommendation only where appropriate.

Will you help after the mortgage completes?

Yes.

We’ll aim to contact you before your mortgage deal expires so there is time to review the available options.

Ready to Take the First Step?

You do not need to have found a property or know which mortgage you want before speaking to us.

That is what the first conversation is for.

Whether you are:

• beginning to save your deposit

• preparing to start viewings

• ready for an Agreement in Principle

• buying with help from family

• self-employed

• purchasing a new-build home

• considering shared ownership

• worried about previous credit difficulties

• ready to submit a mortgage application

we’ll take the time to understand your circumstances and explain the relevant options.

No unnecessary jargon.

No pressure to make an immediate decision.

Just personal mortgage advice to help you move forward with greater confidence.

Move forward with Moveo.

Helping you make informed mortgage decisions with confidence.

Book your initial consultation
Internal link: Booking page

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Internal link: Contact page

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First-time buyer mortgage advice made straightforward. Understand deposits, borrowing, Agreements in Principle, costs and the homebuying process.

Primary Search Terms

• first-time buyer mortgages

• first-time buyer mortgage

• first-time buyer mortgage broker

• first-time buyer mortgage advice

Supporting Search Terms

• how much deposit do first-time buyers need

• 5% deposit mortgage

• how much can a first-time buyer borrow

• Agreement in Principle

• gifted deposit mortgage

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Regulatory Wording

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[Moveo Mortgages is a trading style of FULL LEGAL ENTITY NAME, an Appointed Representative of PRINCIPAL FIRM NAME, which is authorised and regulated by the Financial Conduct Authority. FCA reference number: NUMBER.]

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.