First-Time Buyer Mortgages : Your Path to Homeownership
Let’s start the adventure
Our team of experts absolutely love helping first-time buyers like you secure the right mortgage, and each adviser knows the insider tips and best contacts to get you the most suitable mortgage for your first home.
What can I borrow ?
Lenders assess both your earnings and your regular outgoings. As a rule of thumb, they’ll typically lend up to 4 to 4.5 times your gross annual income, so multiply your salary by 4.5 to get a rough estimate of your borrowing limit. They’ll also factor in your monthly commitments and deposit size through an affordability
Which one is right for me ?
As a first-time buyer, you’re likely moving from a family home or rented property. Taking out your first mortgage can feel overwhelming, but that’s where we step in. Our specialist brokers will learn about you and your future goals, then recommend the mortgage that best fits your needs.
How can we help ?
We don’t simply select a mortgage for you, we support you right through to the moment you turn the key in the door of your first home. And if you’d like us to stay involved, we’re more than happy to continue supporting you even after you’ve moved in.
1. Why This Matters
Buying your first home should be exciting, not overwhelming. At Empreso, we break down the process in simple, clear steps so you can proceed with confidence.
2. What Deposit Do You Need?
- Most lenders offer mortgages up to 95% LTV, meaning you’ll typically need a 5% deposit.
- Saving a larger deposit can unlock better rates and reduce monthly payments
3. Who Counts as a First-Time Buyer ?
To qualify, you must :
- Never owned property anywhere in the world (this includes through inheritance or joint ownership).
- Not enter a joint mortgage with someone who has previously owned property
4. Government Schemes You Could Use
- Lifetime ISA – Receive a 25% government bonus on savings (up to £1,000/year).
- Help to Buy & Shared Ownership – Equity schemes to help with deposit and ownership leverage
5. Types of Mortgages Explained
- Fixed rate – Stable monthly payments, ideal for budgeting.
- Variable/tracker – Competitive initial rates, influenced by Bank of England changes.
- Discount / capped – A variable rate with protections against sharp interest hikes.
- Self-build (if applicable) – Stage-based release of funds for building your own home
6. What Lenders Will Check
Before approval, lenders assess :
- Income and regular expenses,
- Credit history and affordability,
- Size of deposit, and
- Any government scheme participation
7. Step-by-Step Mortgage Process
- Set budget – Deposit plus fees (e.g. conveyancing, valuation).
- Get an Agreement-in-Principle – Initial lender approval based on your info.
- View properties & make offer – Know your budget and what you can afford.
- Apply formally for mortgage – Submit documents like payslips, bank statements.
- Valuation/survey – Lender assesses property’s value and condition.
- Receive mortgage offer – Final terms and conditions issued.
- Completion/Exchange – Solicitor finalises purchase and you receive the keys.
8. Why Choose Empreso ?
- Tailored guidance – We put your aspirations and lifestyle first.
- Full lender panel – Access to deals across brokers and high-street banks.
- Hands-on support – From first call to completion, and beyond.
9. Additional Resources
- Mortgage affordability calculator
- First-time buyer checklist
- Guide to government schemes
✅ Your Next Steps
📞 Book a free Clarity to Prosperity™ Review with an Empreso advisor
📄 Prepare documentation : proof of income, bank statements, credit check
🚀 Embark on a confident and informed journey to your first home