First-Time Buyer Mortgages
Hi, I'm Oliver. I love nothing more than making the phone call to first-time buyers, to let them know that they've received a mortgage offer and can buy their first home. Talk about job satisfaction!
I also don't charge a broker fee to first-time buyers, as I know how tough it is to buy your first home. It's time to help you get on the property ladder.
07795048527
What Is a First-Time Buyer Mortgage?
A first-time buyer mortgage is designed for anyone purchasing their very first property — meaning you’ve never owned a home before, anywhere in the world. These mortgages come with special considerations, from government support schemes to lower deposit options and lender incentives.
At Moveo, we specialise in helping first-time buyers across the UK understand the full picture — from affordability and credit checks to what to expect during the mortgage application process.
How I can help you buy your first home
Buying your first home is something everyone aspires to do. It's one huge milestone in our lives ans we all remember our first home. The feeling of relief that you're eventually on the property ladder, and the excitement about the memories you will create in your first home.
The problem lies in none of us knowing how to begin the process of buying our first home. We aren't taught how to buy a house in school. Our boomer parents tell us how easy it was for them, and we just need to stop buying coffee and avocados. If you go directly to a building society, you will come out with a mortgage offer that could buy you a garage but not the house (That happened to me).
As a mortgage broker, it's my job to ensure the house-buying process is smooth and stress-free.
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I will explain to you exactly how the mortgage process works
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I will ensure you receive the knowledge to make the best decision for you.
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I will clearly communicate with you throughout your mortgage application.
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I have access to the whole mortgage market to ensure you get the best mortgage for you.
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I can arrange your protection, e.g. life insurance, mortgage protection, and income protection.
How the Mortgage Process Works
Applying for a mortgage can feel daunting at first, but we’ll guide you through each step clearly and simply.
Step 1 – Initial Chat
We’ll start with a friendly conversation to understand your goals, budget and what you’re looking for in a home. This first chat is completely free and obligation-free.
Step 2 – Agreement in Principle (AIP)
We’ll help you get an Agreement in Principle — a document that shows how much a lender may be willing to lend you. It’s not a full offer, but it’s useful when you start house-hunting.
Step 3 – Find Your Home
Once you’ve found a property you love, we’ll guide you through making an offer, arranging a valuation, and preparing your documents for full mortgage application.
Step 4 – Full Mortgage Application
Here’s where the paperwork begins — but don’t worry, we’ll handle most of it. You’ll typically need to provide:
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Three to six months of bank statements
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Recent payslips or proof of income
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Proof of deposit and ID documents
We’ll submit your application to the lender and keep you updated throughout the process.
Step 5 – Mortgage Offer & Completion
Once approved, you’ll receive a formal mortgage offer. Your solicitor will handle the legal work, and before you know it — you’ll have the keys to your very first home.
Types of First-Time Buyer Mortgages
Different mortgage types suit different buyers. Here’s a quick overview:
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Fixed-Rate Mortgages – Your rate stays the same for a set period (often 2, 3 or 5 years), offering stability.
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Tracker Mortgages – Linked to the Bank of England base rate, your payments can rise or fall.
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Discount Mortgages – Offer a discount on the lender’s variable rate for an initial period.
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Shared Ownership Mortgages – Buy a portion of your home (typically 25–75%) and pay rent on the rest.
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Guarantor Mortgages – A family member helps by guaranteeing the loan, making it easier to get approved.
We’ll compare thousands of products across multiple lenders to find one that fits your budget and long-term goals.
Key Things To Know As A First-Time Buyer
Work with a mortgage broker
Getting a mortgage application into a lender is rather complex, which is why you're always best to work with a mortgage broker. They help put your mortgage application together to ensure your application will be successful. You see, if you're unsuccessful with your mortgage application, you may have to wait six months or so before you can apply for a mortgage again. This can be a major setback, which is why you need to make sure everything is in place to ensure you are successful.
Check your affordability
A good place to start is checking your affordability. This can be estimated using a mortgage calculator, which can be found online. Simply type in your income and expenditure, and it will tell you how much you could borrow. If you wish to receive a more accurate figure, you'd be best speaking to a mortgage broker, as lenders have different formulas. The difference from one lender to the next could be six figures. Speaking to a mortgage broker gives you access to the whole of the market, and they will also provide you with interest rates and monthly payments too.
Check your credit score
When applying for any form of credit, you will have a soft or hard credit check. This is why it's important to check your credit score before beginning the mortgage application process. You stand the best chance of succeeding with a strong credit score. You can check yours using sites like Equifax or Experian. If your score needs improvement, make the suggested changes, such as reducing debt or registering to vote. Once your credit score improves, then begin the mortgage application process.
You will need three to six months bank statements
This is where some people get caught out. The lender will want to see your spending habits to see if you're telling the truth. It wants to see your income going into the account and what you're spending your money on. It's important to ensure your bank accounts are squeaky clean, which is why you must ensure you don't do anything that may arouse suspicions, such as gambling, getting new finance, or lavish spending.
Save for a deposit
Lenders love deposits. The lower the Loan To Value (LTV), the better interest rate you will be offered. The minimum deposit is 5% but it's always best to aim for 20%+. If you save more and get a lower loan-to-value, your monthly payments will be more manageable, and interest rates can be lower. Achieving the cash for a deposit can be difficult for a first-time buyer, but there are a few ways to make it easier to achieve. A lifetime ISA allows you to save £4000 per tax year, which is topped up by 25% by the government. If you're struggling to buy on your own, then a joint mortgage could be an option which takes in two people's income, meaning you could borrow more or put down a larger deposit together.
Conveyancing costs
You will need a conveyancing solicitor to help you purchase your property. They handle the legal aspects of a property transaction. They prepare contracts, complete property searches, manage financial transfers, and register the new owner with the land registry. The costs can be £1750-£3000. You must ensure you factor in these costs into your budget. If you don't, it can eat into your deposit.
Stamp Duty
A bit of good news now. As a first-time buyer, there is relief from the stamp duty you pay. There is no stamp duty to be paid on the first £300,000. You will then pay 5% on the portion from £300,001 to £500,000. If your first home is worth more than £500,000, you cannot claim stamp duty relief. Stamp duty is paid within 14 days of completion, and your conveyancing solicitor will complete this task for you.
Broker Fees
Mortgage brokers typically charge between £400 and-£1000 for their services. I know how expensive it can be to purchase your first home, which is why I don't charge a broker fee for first-time buyer mortgages. Plus, I love helping people get on the property ladder. You will not have to pay me any money for my services.
How to begin the mortgage application process
I always find that people are at different stages of their journey when visiting this page. Some are at the beginning and are searching for information about first-time buyer mortgages. Others are ready to speak to a mortgage broker for a quick chat about things to get the wheels in motion. Finally, some are ready to begin the mortgage application process and wish to book their appointment. No matter which point you're at, I'm happy to chat, and I'm here to help.
Simply book a meeting for one of the appointments you need or get in touch with me using the contact details at the bottom of this page.
An informal meeting to gain an insight into how much you can borrow from various lenders.
30 min
See how I can help you as a mortgage broker and ask any questions you might have.
30 min
1 hr 30 min
1 hr 30 min
1 hr 30 min
Get in touch if you require help as a first-time buyer
If you have a question but would prefer to speak via email rather than arranging a meeting, please fill out the form below, and I will respond as soon as I can.
Frequently Asked Questions
How much deposit do first-time buyers need?
Most first-time buyers will need a minimum deposit of 5% of the property’s purchase price. However, the more you can save, the better your mortgage deal is likely to be.
Here’s how it typically breaks down:
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5% deposit – minimum entry level for many lenders.
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10–15% deposit – access to more competitive rates.
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20%+ deposit – usually gives you the best rates available.
If you’re saving for your first home, consider opening a Lifetime ISA, which allows you to save up to £4,000 a year and receive a 25% government bonus — a great boost for your deposit fund.
Are there any government schemes for first-time buyers?
There are several UK government schemes designed to help first-time buyers, including:
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Lifetime ISA – receive a 25% bonus on your savings (up to £1,000 per year).
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First Homes Scheme – buy new-build homes at a discount of 30–50%.
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Shared Ownership – part buy, part rent, with the option to increase your share over time.
We’ll explain which options you qualify for and whether they fit your personal circumstances.
How much can I borrow as a first-time buyer?
It depends on your income, credit history, and outgoings. Lenders typically offer between 4–4.5 times your annual income, but this varies. We’ll calculate it for you early on.
Can I get a mortgage with a small deposit?
Yes, several lenders offer 95% loan-to-value mortgages for first-time buyers. We can help you find suitable options.
Do first-time buyers pay stamp duty?
First-time buyers in England and Northern Ireland don’t pay stamp duty on homes up to £425,000, and only pay a reduced rate up to £625,000.
How long does the mortgage process take?
From application to offer, it typically takes 2–6 weeks, depending on your lender and circumstances.
Do I need life insurance?
Many lenders recommend having life insurance to protect your home and family. You can learn more on our life insurance page