{"id":694,"date":"2025-06-30T15:23:44","date_gmt":"2025-06-30T14:23:44","guid":{"rendered":"https:\/\/www.empreso.co.uk\/?page_id=694"},"modified":"2025-06-30T17:02:34","modified_gmt":"2025-06-30T16:02:34","slug":"first-time-buyer","status":"publish","type":"page","link":"https:\/\/www.empreso.co.uk\/?page_id=694","title":{"rendered":"First Time Buyer Mortgages"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

First-Time Buyer Mortgages : Your Path to Homeownership<\/h2>\n\n\n\n

Let\u2019s start the adventure<\/h2>\n\n\n\n

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.<\/p>\n\n\n\n

\n
\n

What can I borrow ?<\/h3>\n\n\n\n

Lenders assess both your earnings and your regular outgoings. As a rule of thumb, they\u2019ll typically lend up to 4 to 4.5 times<\/strong> your gross annual income, so multiply your salary by 4.5 to get a rough estimate of your borrowing limit. They\u2019ll also factor in your monthly commitments and deposit size through an affordability<\/p>\n\n\n\n

\u200b<\/h2>\n<\/div>\n\n\n\n
\n

Which one is right for me ?<\/h3>\n\n\n\n

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.<\/p>\n<\/div>\n\n\n\n

\n

How can we help ?<\/h3>\n\n\n\n

We don\u2019t 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\u2019ve moved in.<\/p>\n<\/div>\n<\/div>\n\n\n\n

1. Why This Matters<\/h3>\n\n\n\n

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.<\/p>\n\n\n\n

2. What Deposit Do You Need?<\/h3>\n\n\n\n
    \n
  • Most lenders offer mortgages up to 95% LTV, meaning you\u2019ll typically need a 5% deposit<\/strong>.<\/li>\n\n\n\n
  • Saving a larger deposit can unlock better rates and reduce monthly payments<\/li>\n<\/ul>\n\n\n\n

    3. Who Counts as a First-Time Buyer ?<\/h3>\n\n\n\n

    To qualify, you must :<\/p>\n\n\n\n

      \n
    • Never owned property<\/strong> anywhere in the world (this includes through inheritance or joint ownership).<\/li>\n\n\n\n
    • Not enter a joint mortgage with someone who has previously owned property<\/li>\n<\/ul>\n\n\n\n

      4. Government Schemes You Could Use<\/h3>\n\n\n\n
        \n
      • Lifetime ISA<\/strong> \u2013 Receive a 25% government bonus on savings (up to \u00a31,000\/year).<\/li>\n\n\n\n
      • Help to Buy<\/strong> & Shared Ownership<\/strong> \u2013 Equity schemes to help with deposit and ownership leverage<\/li>\n<\/ul>\n\n\n\n

        5. Types of Mortgages Explained<\/h3>\n\n\n\n
          \n
        • Fixed rate<\/strong> \u2013 Stable monthly payments, ideal for budgeting.<\/li>\n\n\n\n
        • Variable\/tracker<\/strong> \u2013 Competitive initial rates, influenced by Bank of England changes.<\/li>\n\n\n\n
        • Discount \/ capped<\/strong> \u2013 A variable rate with protections against sharp interest hikes.<\/li>\n\n\n\n
        • Self-build (if applicable)<\/strong> \u2013 Stage-based release of funds for building your own home<\/li>\n<\/ul>\n\n\n\n

          6. What Lenders Will Check<\/h3>\n\n\n\n

          Before approval, lenders assess :<\/p>\n\n\n\n

            \n
          • Income and regular expenses,<\/li>\n\n\n\n
          • Credit history and affordability,<\/li>\n\n\n\n
          • Size of deposit, and<\/li>\n\n\n\n
          • Any government scheme participation<\/li>\n<\/ul>\n\n\n\n

            7. Step-by-Step Mortgage Process<\/h3>\n\n\n\n
              \n
            1. Set budget<\/strong> \u2013 Deposit plus fees (e.g. conveyancing, valuation).<\/li>\n\n\n\n
            2. Get an Agreement-in-Principle<\/strong> \u2013 Initial lender approval based on your info.<\/li>\n\n\n\n
            3. View properties & make offer<\/strong> \u2013 Know your budget and what you can afford.<\/li>\n\n\n\n
            4. Apply formally for mortgage<\/strong> \u2013 Submit documents like payslips, bank statements.<\/li>\n\n\n\n
            5. Valuation\/survey<\/strong> \u2013 Lender assesses property\u2019s value and condition.<\/li>\n\n\n\n
            6. Receive mortgage offer<\/strong> \u2013 Final terms and conditions issued.<\/li>\n\n\n\n
            7. Completion\/Exchange<\/strong> \u2013 Solicitor finalises purchase and you receive the keys.<\/li>\n<\/ol>\n\n\n\n

              8. Why Choose Empreso ?<\/h3>\n\n\n\n
                \n
              • Tailored guidance<\/strong> \u2013 We put your aspirations and lifestyle first.<\/li>\n\n\n\n
              • Full lender panel<\/strong> \u2013 Access to deals across brokers and high-street banks.<\/li>\n\n\n\n
              • Hands-on support<\/strong> \u2013 From first call to completion, and beyond.<\/li>\n<\/ul>\n\n\n\n

                9. Additional Resources<\/h3>\n\n\n\n
                  \n
                • Mortgage affordability calculator<\/li>\n\n\n\n
                • First-time buyer checklist<\/li>\n\n\n\n
                • Guide to government schemes<\/li>\n<\/ul>\n\n\n\n

                  \u2705 Your Next Steps<\/h3>\n\n\n\n

                  \ud83d\udcde Book a free Clarity to Prosperity\u2122 Review<\/strong> with an Empreso advisor
                  \ud83d\udcc4 Prepare documentation : proof of income, bank statements, credit check
                  \ud83d\ude80 Embark on a confident and informed journey to your first home<\/p>\n\n\n\n

                  <\/p>\n

                  <\/div>","protected":false},"excerpt":{"rendered":"

                  First-Time Buyer Mortgages : Your Path to Homeownership Let\u2019s 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 […]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-694","page","type-page","status-publish","hentry"],"yoast_head":"\nFirst Time Buyer Mortgages - Empreso<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.empreso.co.uk\/?page_id=694\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Time Buyer Mortgages - Empreso\" \/>\n<meta property=\"og:description\" content=\"First-Time Buyer Mortgages : Your Path to Homeownership Let\u2019s start the adventure Our team of experts absolutely love helping first-time buyers like\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.empreso.co.uk\/?page_id=694\" \/>\n<meta property=\"og:site_name\" content=\"Empreso\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/EmpresoNetwork\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-30T16:02:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.empreso.co.uk\/wp-content\/uploads\/2025\/06\/Streams-of-Income-9-21.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"733\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@AlainMbe\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.empreso.co.uk\\\/?page_id=694\",\"url\":\"https:\\\/\\\/www.empreso.co.uk\\\/?page_id=694\",\"name\":\"First Time Buyer Mortgages - 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