Buying your first home? We can help you get started.

How much deposit do you need?

Many first-time buyers start with a 5% deposit, although not every lender or property will qualify. For a £200,000 home, that means saving £10,000. A 10% deposit would be £20,000. Having more saved can give you a wider choice of mortgages, but you don't necessarily need to wait until you've saved 10%.

If family members are helping with your deposit, let us know. Gifted deposits are accepted by many lenders, but they usually need a letter confirming that the money is a gift rather than a loan.

How much could you borrow?

There's no single figure that works for everyone. Lenders look at your income, household spending, existing borrowing, dependants and the mortgage term. They also have different rules for overtime, bonuses and self-employed income.

As a starting point, you can try our mortgage affordability calculator. It's only an estimate. We can check your circumstances against individual lenders before you start viewing properties.

What if you have missed payments or a low credit score?

A credit problem doesn't always mean you can't get a mortgage. The lender will want to know what happened, how recently it happened and whether your finances are now stable. A missed payment is different from a recent default or county court judgment, and each lender takes its own approach.

It's worth speaking to us before making several applications. We can talk through your credit history and explain which routes may be realistic. Read more about mortgages with adverse credit.

What happens when you're ready to buy?

1. Check your budget. We'll discuss your deposit, income and monthly costs.
2. Get an Agreement in Principle. This gives you an indication of what a lender might offer, subject to checks and a full application.
3. Find a property. Once your offer is accepted, we'll help you choose a suitable mortgage and prepare the application.
4. Apply for the mortgage. The lender checks your documents, finances and the property before deciding whether to issue an offer.
5. Complete the purchase. Your solicitor handles the legal work and confirms when you can collect the keys.

Remember the other costs

Your deposit isn't the only expense. You'll need to budget for legal fees, any survey you choose to commission, moving costs and potentially mortgage product or broker fees. We'll explain any mortgage-related fees before you decide whether to proceed.

First-time buyers in England and Northern Ireland may qualify for Stamp Duty relief, depending on the purchase price and eligibility. Use our Stamp Duty calculator for an initial estimate.

Want to understand all the options?

Our complete first-time buyer mortgage guide goes into more detail about deposits, affordability, schemes, applications and the costs of buying. Or speak to our team and we'll talk through your own situation.