Larger deposits tend to mean we can access lower interest rates. But this isn’t always the case, and we understand that saving a large amount is easier said than done. The great news is that many mortgage options and schemes are available that will allow for as little as a 5% deposit. At the time of writing, there are even some zero-deposit options available for buyers in certain circumstances. Whatever deposit you have, speak to our team of mortgage brokers to see what mortgage options are available and find out how we can help you get on the property ladder.
Mortgages for first-time buyers
Buying your first home is a significant life and financial milestone, and navigating the mortgage market can be daunting. Our experienced mortgage advisers can guide you through the options.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Contact a James Leighton mortgage adviser to understand real options with no obligation.
Get in touch
Get in touch
Useful and uncomplicated advice
Clear and genuinely helpful
Our mortgage advice service aims to simplify the process and reduce stress, particularly for first-time buyers entering the property market. We maintain an open-door policy with all of our UK clients but encourage first-time buyers to ask questions and seek clarification at any stage and for any query. Our mortgage advisers are dedicated to providing clear and helpful support and ensuring that all your queries are answered and addressed with honest, professional advice and information.
- Call: 0115 870 9520
- Email: [email protected]
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No pressure, no hassle
Even after you engage with our mortgage advisers, you’re never obligated to progress with our services or secure a mortgage with us. You’re free to decide which company best suits your needs, and you’ll never be pressured by us.
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All first-time buyers
James Leighton’s team of friendly mortgage advisers provide fee-free mortgage advice to all types of first-time buyers, no matter what your budget is or your mortgage requirements. No mortgage is too small, too big or too complicated for our professional team.
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Clear communication with ongoing updates
You’ll find that most of your worries can be easily fixed with regular updates and the support of our whole team. We prioritise clear communication and maintain regular contact with you throughout the mortgage process. You can rely on us for total transparency, fast responses and communication at every stage of your mortgage journey.
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Whole of market for mortgages considered
Our mortgage advisers have access to the whole of market for mortgages, so we can search for mortgage deals that suit you and your situation. This means you won’t miss out on deals.
Choose your ideal mortgage
Mortgages come in all shapes and sizes, and it’s our advisers' job to recommend a suitable mortgage for your needs based on your personal circumstances.
Things to consider
Setting realistic budgets
We recommend that you speak to us as early as possible in your house buying journey so we can help you establish what your target price range is. We’ll help you understand what your payments will be, what the optimal deposit is, what other costs you will need to budget for (such as legal fees) and talk you through the house buying process.
Our team will put you in a great position to go property shopping, including obtaining a Decision in Principle, which will enable you to make an immediate offer on a property.
Things to consider
Employment status
Our advisers understand that there are a multitude of ways that you can earn a living, including being a permanent full or part-time employee, agency or zero-hour, pieceworker, bank worker, self-employed, a limited company director, contractor and many more. Of course, all lenders want to see that your income is sustainable into the future and our advisers are highly knowledgeable and skilled at placing your application with the lender who will offer optimal terms given your circumstances. No matter how complex your circumstances, we’ll work incredibly hard to find you a great deal.
Things to consider
Deposit and credit history
It’s common knowledge that the bigger the deposit you put down, the less risk you represent to a lender and, usually, this means a lower interest rate. However, don’t let this put you off because there are plenty of low, and even some zero deposit, options available whether you are buying a new build or resale property. Of course, adverse credit history can reduce the number of mortgage options available but there are still plenty of mainstream and specialist lenders available who will welcome your business.
By your side
First timer?
Buying your first home can seem scary, complicated and confusing. That’s why we have created our client journey, called The James Leighton Way, to make buying your first home as simple, easy and stress-free as possible. From the very first conversation you have with our friendly team, we’ll make sure you feel supported, and continually updated and that you understand everything, every step of the way. We aim to ensure that you feel informed and relaxed from your initial enquiry, right the way through to the day you get your keys, and beyond. Our mantra is that there is no such thing as a silly question, but we understand that trust is earned, so don’t just take our word for it – have a look at our amazing Google reviews.
- Call: 0115 870 9520
- Email: [email protected]
FAQs
Q
How much money do I need to save for a deposit for my first home?
A
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How can I estimate how much I can afford to borrow as a first-time buyer?
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It’s actually quite difficult to estimate because there are so many factors affecting how much you can borrow, such as employment status, credit rating, size of deposit and age. Consequently, we recommend that you speak to one of our brilliant team, 7 days a week, for a no obligation chat. We’ll help you establish accurately how much you can borrow, how much it will cost per month and therefore what your target purchase price range is. All based on your personal circumstances. It only takes around 15-20 minutes. No documents. No unwanted credit checks. Hassle free.
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What documents and evidence do first-time buyers need to supply?
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We understand that gathering documents can be a bind but don’t worry, our team are on hand to help and we’ll only need documents if you choose us to apply for a mortgage. As a minimum, we’ll need name and address ID, proof of deposit, proof of income and bank statements showing income and bills.
New build mortgages
Navigate the new build mortgage market with our experienced and well-connected new build mortgage advisers.
Home movers
Whether you’re upsizing or downsizing, our mortgage advisers can help you find the most advantageous mortgage option.
Remortgaging
Our advisers will look to help you find a better mortgage deal with our results-driven remortgaging advice and brokering services.
Buy to Let
Secure the right investment property with our extensive Buy to Let (BTL) mortgage market insights and support. Our knowledgeable team of BTL mortgage professionals will provide a customised solution that focuses on your investment goals.
52%
of all UK property purchases were made by first-time buyers in 2022*.
This is reassuring for first-time buyers. It might be daunting, but many people successfully buy their first home with no issues.
*Source: https://www.confused.com/mortgages/first-time-buyer-statistics
Sandip ‘Sunny’ Singh - Senior Mortgage Adviser
At James Leighton, we pride ourselves on our dedication to finding tailored solutions for every client, ensuring their aspirations become a reality.
Sunny has been a dedicated team member for over five years and has worked in financial services since 2009. He is determined to help our clients achieve their homeownership dreams.
- Call: 0115 870 9520
- Email: [email protected]
Case study
Overcoming residency and deposit hurdles for professionals
Client background: Our clients were foreign nationals who had recently moved to the UK on Tier 2 Visas, having resided in the country for just over a year. They were a professional couple, both working as doctors in the NHS, with a combined annual income exceeding £100,000.
The challenges:
- Limited UK residency: The primary obstacle in this case was the clients' brief period of residence in the UK.
- Residency duration requirement: Many lenders usually mandate a residency duration of 2 or 3 years in the country before considering mortgage applications.
- Minimal deposit: The clients' recent arrival meant they could only afford a 10% deposit, further restricting their options.
What we did:
- Initial application: We initiated the process by applying for a Decision in Principle (DIP) through Halifax. Unfortunately, the DIP was declined, primarily due to credit score issues relating to the clients’ limited residency in the UK.
- Seeking advice: Recognising the complexities of the case, we sought advice from Skipton's Business Development Manager who reconfirmed our concerns regarding the clients’ length of time in the UK. He also acknowledged the clients' unique profession as doctors in the NHS, suggesting that Skipton might consider a more flexible approach. However, the DIP application for Skipton was also declined due to credit score concerns relating to insufficient credit history.
- Finding a solution: Recognising the recurring credit score issues, we continued our efforts to find a solution for our clients. We successfully applied to the Bank of Ireland, utilising their bespoke mortgage range, which is specifically designed for professionals who are either on or slightly outside of the lender’s standard policy threshold. This bespoke range allowed us to consider the clients' unique situation and tailor a solution that met their specific needs. The Bank of Ireland's willingness to consider the individual circumstances of the clients, rather than solely relying on standard policy criteria, completely transformed the outcome for our clients.
To wrap it up: This case illustrates our commitment to going the extra mile for our clients. By being open to alternative solutions and finding a mortgage product that aligned with the clients' unique situation, we helped our them overcome the challenges of both limited residency and deposit to secure their dream home in the UK. At James Leighton, we pride ourselves on our dedication to finding tailored solutions for every client, ensuring their aspirations become a reality.
We helped them overcome the challenges of limited deposit.
What our customers say
As first time buyers I was recommended James Leighton Financial Services by the house developer. Sam Chung from James Leighton Financial Services was so helpful and supported me through the entire process and guided me. I highly recommend them.
