First Time Buyer Mortgages

There's no single credit score you need, because each lender uses its own scoring system and criteria, but generally a score in the "good" to "excellent" range with no missed payments, defaults, or high credit card balances in the last 12–24 months gives you access to the widest range of deals. As part of our Approved Buyer Certificate process we review your credit report before you apply, flag any issues, and match you to lenders most likely to accept your profile. This reduces the risk of a rejected application showing up on your credit file.

Whether renting or buying is cheaper depends on your deposit size, mortgage rate, local property prices, and how long you plan to stay in the property, so there's no single UK-wide answer. In many areas monthly mortgage repayments on a smaller deposit are now similar to or higher than rent, but buying builds equity over time while renting doesn't. We run a personalised affordability and cost comparison for you, factoring in current rates and your target areas, so you can see the real numbers before deciding.

The most effective ways to build a deposit are opening a Lifetime ISA to get the 25% government bonus, setting up an automatic monthly savings transfer, cutting existing debt to improve affordability, and asking family about a gifted deposit or guarantor arrangement if that's an option. Many first-time buyers also budget with a target moving date in mind and track spending closely in the 6–12 months before applying, since lenders review recent bank statements. We help clients build a realistic savings plan alongside our affordability check so you know exactly how much deposit you'll need.

Common reasons first-time buyer mortgage applications are rejected include an insufficient credit score, too much existing debt relative to income, inconsistent or hard-to-verify income (especially if self-employed), a deposit that doesn't meet the lender's minimum, or errors and inconsistencies in the application itself. Undisclosed credit searches, recent missed payments, and unexplained large deposits into your bank account are also frequent triggers. Our Approved Buyer Certificate process is designed to catch these issues before you apply, including a full credit report review and Agreement in Principle, so you apply with confidence rather than risk a rejection.

Yes, first-time buyers can get a mortgage on a leasehold flat, but lenders look closely at the remaining lease length (generally wanting at least 70–85 years left after your mortgage term ends), ground rent terms, and service charges before approving the loan. Short leases, escalating ground rents, or restrictive clauses can make a property harder to mortgage or require lease extension negotiations first. We check these details with you and your solicitor early on so lease issues don't derail your purchase later in the process.

An Agreement in Principle (sometimes called a Mortgage in Principle) is a lender's initial indication of how much they might lend you, based on a soft credit check and the income and deposit details you provide. Most estate agents will expect you to have one before they'll arrange viewings or accept an offer, so it's worth getting one early. We provide this as part of our Approved Buyer Certificate process, alongside a full credit report review.

It can still be possible, depending on the type, amount and age of the credit issue alongside your income, deposit and wider circumstances. Some specialist lenders will consider first-time buyers with historic missed payments, defaults or CCJs, particularly where the deposit is stronger or the issue is explained. A free, no-obligation conversation is a judgement-free way to find out what's realistic before you apply.

Most first-time buyers in England and Northern Ireland benefit from Stamp Duty Land Tax (SDLT) relief, which reduces or removes the tax due up to a threshold set by the government — Scotland and Wales run their own separate schemes (Land and Buildings Transaction Tax, and Land Transaction Tax). These thresholds and reliefs change from time to time, so rather than quote a figure that could be out of date by the time you read this, we check the current position for your specific purchase and can point you to the official GOV.UK guidance for the exact numbers.

You'll typically need proof of ID, your last three months' bank statements, recent payslips (or two to three years' accounts or tax calculations if you're self-employed), evidence of where your deposit has come from, and details of any existing debts or credit commitments. Exact requirements vary by lender, so as part of our Approved Buyer Certificate process we tell you exactly what to gather before you apply, rather than you finding out mid-application.