First Time Buyer Mortgage Broker
Buying your first home is an exciting step, but getting a first time buyer mortgage can feel overwhelming if you are not sure where to start. At Jones & Young, our experienced mortgage advisers make the process simple. We help first time buyers understand their mortgage options, compare mortgage deals, and take confident steps onto the property ladder.
From working out how much you could borrow to securing your mortgage offer, we guide you through your full mortgage journey from start to finish. Whether you are preparing to apply for a mortgage or just want a rough idea of your monthly payments, our team is here to support you every step of the way and help you move into your first home with confidence.
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What Is a First Time Buyer Mortgage?
A first time buyer mortgage is a type of home loan designed for people buying their first home. If you have never owned a property before, either in the UK or abroad, you may qualify as a first time buyer. These mortgages are created to help first time buyers get onto the property ladder, often with a smaller deposit and access to schemes like stamp duty relief.
Instead of treating you the same as someone who already owns a home, lenders may offer mortgage deals that are better suited to first time buyers. This can include lower minimum deposit requirements, support through government schemes, and more flexibility around your credit score and income. The aim is to give you a clearer idea of how much you could borrow and make buying your first home more achievable.
If you are unsure where to start or have found the mortgage application process confusing, a first time buyer mortgage can make things much more straightforward. With the right mortgage adviser, you can explore your mortgage options, understand the costs involved, and take the first step towards securing your first property with confidence.
How Do First Time Buyer Mortgages Work?
When you apply for a first time buyer mortgage, lenders assess your financial situation to decide how much you could borrow. This includes looking at your income, outgoings, credit rating, and the size of your deposit. Most lenders will also carry out a credit check and use this information to calculate your monthly repayments and overall affordability.
Before making a full mortgage application, many first time buyers choose to get an agreement in principle. This gives you a rough idea of how much you could borrow and shows estate agents that you are serious when you start searching for a property. Once you have found a house and your offer is accepted, the lender will complete a more detailed review before issuing your formal mortgage offer.
This process helps ensure you are taking on a mortgage that is affordable both now and in the future. With the right mortgage adviser, you can understand each stage of the mortgage journey, avoid common mistakes, and move forward with confidence as you secure your first home.
Why Use a First Time Buyer Mortgage Broker?
Buying your first home can feel complicated, especially if you are unfamiliar with the mortgage process. From understanding how much you could borrow to navigating mortgage rates and deposit requirements, there is a lot to consider as a first time buyer.
Thatโs where Jones & Youngโs experienced mortgage advisers can help. As a specialist mortgage broker, we guide first time buyers through the entire mortgage journey, ensuring your mortgage application is presented clearly and accurately to lenders.
We work with a wide range of lenders across the market, helping you compare mortgage deals and find options suited to your situation. This includes lenders who are more flexible around credit score, income, and smaller deposit levels.
With expert support from start to finish, you will have access to better mortgage options, clear advice, and the confidence to secure your first home and step onto the property ladder.
Hereโs how we support you we support you
Compare mortgage deals from across the market to find the right option for your situation
Guide you through every stage of your mortgage application, saving you time and stress
Liaise directly with lenders to keep the process smooth and straightforward
Provide clear, honest advice tailored to your needs as a first time buyer
Support you from your first enquiry right through to securing your first home
To find the right first time buyer mortgage for your situation, speak with an experienced mortgage adviser today!
Jones & Youngโs team will assess your individual circumstances, help you understand how much you could borrow, and match you with the right lender to improve your chances of approval, even if your situation is not straightforward.
Who Can Get a First Time Buyer Mortgage?
A first time buyer mortgage is designed for people buying their first home who have never owned a property before, either in the UK or abroad. Lenders will assess your overall financial situation, but many offer options specifically to help first time buyers take their first step onto the property ladder.
Here are the types of buyers who can benefit from a first time buyer mortgage:
First time buyers with no previous property ownership
If you have never owned a residential property, you will usually qualify as a first time buyer. This can give you access to specific mortgage deals, as well as benefits like stamp duty relief, helping reduce the overall costs of buying your first home.
Buyers with a smaller deposit
Many lenders offer first time buyer mortgages with a minimum deposit of around 5%. While a larger deposit can help you access better mortgage rates, there are still options available if you are working with a smaller deposit or using a gifted deposit from family.
Joint applicants buying together
You can apply for a joint mortgage with another first time buyer to increase your borrowing potential. However, if one applicant has previously owned a property, you may not qualify for certain benefits such as first time buyer relief.
Buyers using government schemes
Some first time buyers may be eligible for government backed schemes designed to make buying your first home more affordable. These can help reduce upfront costs or make it easier to secure a mortgage with a lower deposit.
How Jones & Young Help You Get a First Time Buyer Mortgage?
At Jones & Young, our expert mortgage advisers make buying your first home feel simple and straightforward. With years of experience helping first time buyers, we understand the challenges of getting onto the property ladder and know how to present your application in the best possible way.
Hereโs how we guide you from start to finish:
Initial consultation and affordability review
We start by assessing your income, outgoings, credit score, and deposit to give you a clear idea of how much you could borrow and what your monthly repayments may look like.
Matching you with the right lender
We compare mortgage deals across the market to find options that suit your situation, whether you have a smaller deposit or are applying for your first mortgage.
Managing your mortgage application
We handle the full mortgage application process, keeping everything organised and liaising with lenders to keep things moving smoothly.
Securing your mortgage offer
Once your offer is accepted on a property, we support you through to receiving your mortgage offer so you can move into your first home with confidence.
Our personalised mortgage advice ensures you receive clear guidance, ongoing support, and a smooth experience from your first enquiry through to securing your new home.
Calculate Your Mortgage Affordability
Our easy-to-use mortgage calculator helps first time buyers get a clear idea of how much you could borrow before you apply for a mortgage. Simply enter your details to get a rough idea of your monthly payments based on your loan amount, deposit, and interest rate.
Using our online mortgage calculator is a great way to understand your budget early, giving you confidence when you start searching for your first home and speaking with estate agents.
Access to a Wide Range of Mortgage Lenders
Some first time buyers can find it harder to get approved, especially if you have a smaller deposit, limited credit history, or are unsure how lenders assess your situation. At Jones & Young, we work with a wide range of mortgage lenders who understand the needs of first time buyers.
Whether you are applying for your first mortgage, using a gifted deposit, or exploring different mortgage options, we help match you with lenders that suit your circumstances. Our focus is on keeping the process clear and straightforward, helping you secure the right mortgage deal and move into your first home with confidence.
Why Choose Jones & Young
Choosing the right mortgage broker can make all the difference when buying your first home. At Jones & Young, weโre proud to be independent, experienced, and trusted by first time buyers across the UK.
Hereโs why clients continue to choose us:
- Over 30 years of experience helping first time buyers get onto the property ladder
- Independent mortgage advisers with access to a wide range of mortgage lenders
- A reputation for honest, clear, and stress free service
- Personalised mortgage advice tailored to your individual situation
- Support with protection, including buildings insurance and home insurance
Whether you are applying for your first time buyer mortgage or exploring your options, our expert team will guide you through the process and help you secure your first home with confidence.
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First Time Buyer Mortgage FAQs
If youโre new to first time buyer mortgages, itโs normal to have questions. Below, weโve answered some of the most common queries to help first time buyers understand the mortgage process and what to expect when buying your first home.
What is a first time buyer mortgage?
A first time buyer mortgage is a home loan designed for people who have never owned a property before. These mortgages often come with options that make it easier to get onto the property ladder, such as a smaller deposit, access to mortgage deals aimed at first time buyers, and benefits like stamp duty relief. Lenders will still assess your income, credit score, and affordability before offering a mortgage.
How much can I borrow as a first time buyer?
The amount you can borrow depends on your income, outgoings, credit rating, and deposit. Most lenders will offer a loan based on a multiple of your income, but this can vary. Using a mortgage calculator or speaking to a mortgage adviser can give you a clearer idea of how much you could borrow and what your monthly repayments might look like.
What is an agreement in principle and why do I need one?
An agreement in principle is an early indication from a lender showing how much they may be willing to lend you. It involves a soft credit check and gives you a rough idea of your borrowing limit. Having an agreement in principle also helps show estate agents that you are a serious buyer when you start searching for your first property.
What happens after my offer is accepted on a property?
Once your offer is accepted, you can move forward with your full mortgage application. The lender will carry out detailed checks before issuing a mortgage offer. At the same time, you will need to appoint a solicitor to handle the legal work, known as conveyancing. This includes checking the property and managing the transfer of ownership before you complete your purchase.
Do first time buyers pay stamp duty?
Many first time buyers benefit from stamp duty relief, meaning you may pay less or no stamp duty depending on the property price. The amount you pay stamp duty on will depend on current thresholds and your eligibility for first time buyer relief. Itโs important to factor this into your overall costs when buying your first home.
What other costs should I consider when buying your first home?
In addition to your deposit and mortgage repayments, there are several other costs to budget for. These can include conveyancing fees, valuation fees, and moving costs. You may also need to arrange buildings insurance and home insurance before completion. Planning for these costs early will help make your mortgage journey smoother and avoid any surprises.
