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FIRST-TIME BUYER MORTGAGE ADVICE
First-Time Buyer Mortgage Broker: Help With Your First Home
Buying your first home should feel exciting, not overwhelming. We help you understand your deposit, check what you may be able to borrow and find a suitable mortgage.
Initial consultation free · CeMAP-qualified advice · UK-wide · Read our reviews on Trustpilot ↗
Based in Derby, we advise first-time buyers across the UK by phone and video.
Mortgage advice that starts with your plans
Whether you're saving a deposit, viewing homes or have had an offer accepted, we can explain your options without pressuring you into an application. We can also help if you have a gifted deposit, self-employed income or previous credit problems.
Talk through your mortgage options
Tell us about your plans and circumstances. Your initial consultation is free.
How Option Finance helps first-time buyers
Compare mortgage options
Check lender criteria and suitable products, including options for smaller deposits and complex income.
Get application support
We help you prepare documents and understand the agreement in principle, application and mortgage offer.
Self-employed, variable pay or past credit problems?
Most first-time buyer applications that fail do so on lender criteria, not affordability. Every lender sets its own rules on which income it counts and what credit history it accepts, and a declined application can leave a search on your credit file. Matching you to the right lender before you apply is where we make the biggest difference.
Self-employedMost lenders want two years of accounts or tax calculations. Some accept one. Contractors and agency workersSome lenders work from your day rate or contract rather than accounts. Past credit problemsMissed payments, defaults or CCJs. How recent and how large they are matters most. Overtime, bonus or commissionSome lenders count all of it, others half or none. It changes what you can borrow. New job or probationSome lenders accept you on probation or before you start, with a signed contract. Family helpA gifted deposit, guarantor or joint borrower sole proprietor mortgage.
Tell us your circumstances and we'll check which lenders fit →Real example: self-employed first-time buyers with a 5% deposit
We helped two self-employed sole traders buy their first home for £150,000 with a 5% deposit. This is an individual client example, not a guarantee of lending. Read more in our first-time buyer deposit guide.
Should you use a mortgage broker as a first-time buyer?
A broker can compare lenders, check their criteria before you apply and manage your application through to completion. That matters most if you have a small deposit, self-employed income, a gifted deposit or past credit issues, where one declined application can cost time. A 2026 Barratt Homes survey of 660 prospective buyers found 68% would turn to a mortgage broker for mortgage information. Some lenders also offer applications without advice, which means no adviser checks whether the deal is suitable for you.
Ask us about your circumstances →How the first-time buyer mortgage process works
Most first purchases follow the same stages. We guide you through each one so you know what is needed next.
- Free consultation. We talk through your income, deposit, credit history and the type of home you want.
- Agreement in principle. We obtain an initial indication from a suitable lender so you can show sellers and estate agents you are ready to buy.
- Find a home and make an offer. Once your offer is accepted, we confirm the right product before you apply.
- Full mortgage application. We prepare and submit your application with the documents the lender asks for, such as payslips, bank statements or self-employed accounts.
- Valuation and underwriting. The lender values the property and checks your application. We deal with any questions the underwriter raises.
- Mortgage offer and completion. Your solicitor or conveyancer completes the legal work and the funds are released on completion day.
How long this takes depends on the lender, the property and how quickly documents are provided. Our first-time buyer guide explains each stage in more detail.
Will a lender accept you? What they check
Before a lender agrees to your mortgage it looks at more than your salary. These are the checks that most often decide a first-time buyer application.
| Check | What lenders usually look for |
|---|---|
| Credit history | Your credit files, the electoral roll and how you manage existing credit. Older or smaller problems are viewed more kindly than recent ones. |
| Employment | Many lenders want you past probation or in your job for a few months. Others accept a new job or probation, especially if you are in the same line of work. |
| Income | Basic pay counts in full. Overtime, bonus and commission are often averaged and may be partly counted. Self-employed income is usually taken from your last one or two years. |
| Spending and debts | Loans, car finance, credit cards, childcare and other commitments reduce what you can borrow. |
| Deposit | Usually at least 5%, from savings or a gift, with evidence of where the money came from. |
| Age and term | The mortgage normally has to end by a maximum age set by the lender, which can limit the term for older buyers. |
| Residency | Some lenders accept limited UK residency or certain visas, often with a larger deposit. |
| The property | Lenders value the home and may restrict lending on some flats, new builds or non-standard construction. |
How long it takes
An agreement in principle can often be issued the same day. Once you apply, a mortgage offer commonly takes two to four weeks, longer if the lender needs more evidence. From an accepted offer on a home to completion, many purchases take three to five months, mostly driven by the legal work and the chain. Mortgage offers are usually valid for around six months.
How much deposit do you need?
Some eligible buyers can purchase with a 5% deposit. For example, on a £200,000 property, a 5% deposit is £10,000. You'll also need to budget for legal fees, surveys, moving costs and any applicable Stamp Duty.
See our first-time buyer mortgage deposit guide for deposit examples, gifted deposits and lender considerations.
How much could you borrow?
Mortgage affordability depends on your income, regular spending, credit commitments, deposit and the lender's rules. A simple income multiple is not a mortgage offer.
Explore your borrowing options
Use our affordability calculator for an initial estimate, then speak to us about lender-specific criteria. Calculator results are illustrative, not an offer.
Find out exactly how much you can borrow
Our advisers will give you an accurate borrowing figure based on your full circumstances.
Costs to budget for besides your deposit
- Stamp Duty. In England and Northern Ireland, eligible first-time buyers pay no Stamp Duty on the first £300,000 and 5% on the portion from £300,001 to £500,000. The relief does not apply above £500,000. Check GOV.UK Stamp Duty rates or use our Stamp Duty calculator.
- Legal fees. Your solicitor or conveyancer handles the purchase, searches and the transfer of funds.
- Surveys. The lender's valuation is not a survey. An independent survey can identify problems before you commit.
- Lender fees. Some mortgages carry a product or arrangement fee. A lower rate with a high fee is not always the cheaper option.
- Moving and setting up. Removals, furniture and buildings insurance from exchange of contracts.
MoneyHelper's buying and moving costs guide explains these costs in more detail.
First-time buyer schemes in 2026
Scheme rules and availability differ by area, income and property. These are the main options in England in October 2026.
- Mortgage Guarantee Scheme. A permanent government scheme supporting lenders that offer 91% to 95% loan-to-value mortgages. Normal affordability and credit checks still apply.
- Lifetime ISA. A 25% government bonus on savings of up to £4,000 a year for a first home costing up to £450,000. The government plans to replace it with a new first-time buyer ISA, so check the current rules before opening one.
- Shared Ownership. Buy a share of a home and pay rent on the remainder, with the option to buy more shares later.
- First Homes. Discounted new-build homes for eligible local buyers. Councils are no longer required to provide them, so availability depends on where you buy.
- Your First Home. A new-build equity loan scheme announced on 26 September 2026. It is not open yet. Details are expected at the Budget on 28 October 2026.
Our mortgage broker fee
Your initial consultation is free. If you proceed, our broker fee for a straightforward case is £499 in total: £299 on mortgage application and £200 when your mortgage offer is issued. The £299 application payment is refundable if your mortgage is declined, subject to the terms of your written fee agreement. The fee is £999 where income is complex or there are some credit problems, and £1,499 for heavy adverse credit such as a bankruptcy, as far more work is involved. These are paid the same way: part on application, refundable if the mortgage is declined, and the rest when the mortgage offer is issued. We confirm your fee and terms before you proceed. Lender and third-party fees may be additional.
Hear from people we've helped
“Ben was really helpful in helping me get my first mortgage. Attentive and friendly throughout.”
Read more independent client feedback.
First-time buyer mortgage FAQs
Should I use a mortgage broker as a first-time buyer?
A broker can compare suitable lenders, check their criteria and guide you through the application. You can also approach lenders directly. The right route depends on your circumstances and the support you need.
Can I get a 100% mortgage as a first-time buyer?
A small number of lenders may offer no-deposit mortgages, including products for eligible renters. Conditions are strict and availability can change. We can check current options for you.
How much deposit do I need for my first mortgage?
Some lenders consider a 5% deposit, subject to credit, affordability and property requirements. Larger deposits can open up other products.
Can I get a mortgage if I am self-employed?
Potentially. Lenders assess trading history, accounts or tax evidence and affordability. Some consider applicants with one year of accounts, depending on their criteria.
Can I get a mortgage while on probation?
Some lenders will lend while you are on probation or about to start a new job, particularly if you are staying in the same line of work. Others want you to have passed probation or been employed for a set period. We check which lenders fit before you apply.
Can I get a first-time buyer mortgage with bad credit?
Often, yes. Lenders look at what the problem was, how large it was and how long ago it happened. Older, settled issues are viewed more kindly than recent ones, and a larger deposit can widen your options.
How long does it take to get a mortgage as a first-time buyer?
An agreement in principle can often be issued the same day. A mortgage offer commonly takes two to four weeks after you apply. The whole purchase, from accepted offer to completion, often takes three to five months.
Can I buy with a gifted deposit?
Many lenders accept a qualifying family gift with the required declaration and source-of-funds evidence. Individual rules vary.
How much can I borrow on my salary?
Lenders assess income, regular spending, debts, dependants, mortgage term and credit history. Salary multiples alone cannot confirm what you can borrow.
Do first-time buyers pay Stamp Duty?
In England and Northern Ireland, eligible first-time buyers pay no Stamp Duty Land Tax on the first £300,000 and 5% on the portion from £300,001 to £500,000. The relief is not available if the price is above £500,000. Scotland and Wales have their own property taxes and first-time buyer rules.
What is an agreement in principle?
An agreement in principle is a lender's initial indication of how much it may lend, based on the information you provide and usually a credit check. It is not a mortgage offer. The lender still needs a full application, documents and a valuation.
Is the first consultation free?
Yes. Our initial consultation is free. If you proceed, our broker fee for a straightforward case is £499: £299 on application and £200 when a mortgage offer is issued. The £299 application fee is refundable if the mortgage is declined, subject to the written fee agreement. The fee is £999 where income is complex or there are some credit problems, and £1,499 for heavy adverse credit such as a bankruptcy, as far more work is involved. These are paid the same way: part on application, refundable if the mortgage is declined, and the rest when the mortgage offer is issued. We confirm your fee before you proceed.
Ready to talk through your first mortgage?
Tell us where you are in your search, whether you are saving, viewing or have had an offer accepted. Your initial consultation is free.
Content written and reviewed by Davi Thakar. Last reviewed 15 October 2026. Your home may be repossessed if you do not keep up repayments on your mortgage. Mortgage products and lender criteria are subject to change. This information is not a personal recommendation.