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 major life and financial achievement that you should be proud to reach. The process can be time-consuming and stressful, which is where we can help! Our advisers will guide you through every step, securing the most suitable deal for your needs and budget.
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
Straightforward, unbiased advice
Clear and helpful support
We aim to simplify the mortgage process, making it as stress-free as possible. Our advisers encourage first-time buyers to ask questions at any stage - we’re here to provide clear, honest, and practical first-time buyer mortgage advice without pressure or sales tactics.
- Call: 0115 870 9520
- Email: [email protected]
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No pressure, no hassle
You’re never obligated to proceed with us. We offer guidance to help you make informed decisions, and you’re free to explore other options at any time.
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Support for all first-time buyers
No matter your budget or circumstances, we provide fee-free advice and work to find the most suitable mortgage for first-time buyers.
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Regular updates and clear communication
We know the mortgage process can feel daunting. That’s why we keep you informed at every stage, ensuring transparency, prompt responses, and ongoing support.
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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 the most suitable deal for your unique situation. Whether you're looking for competitive first-time buyer mortgage rates or need specialist advice, we’re here to help.
The mortgage for you
Mortgages come in all shapes and sizes, and our advisers will recommend options based on your financial circumstances, preferences and long-term goals.
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-time buyer journey - The James Leighton Way
Buying your first home doesn’t have to be complicated. Our step-by-step approach, The James Leighton Way, means you have a stress-free experience. From your first conversation with us to collecting your keys, we’ll provide guidance, updates, and reassurance. We believe there’s no such thing as a silly question - our goal is to earn your trust through our expertise, advice, and proven results.
Check out our 5* Google reviews to see what our clients say.
- 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
Q
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.
Q
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.
Q
What is a mortgage for a first-time buyer?
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A first-time buyer mortgage is a home loan specifically designed for those purchasing their first property. These mortgages often come with competitive rates, lower deposit requirements, and incentives to make homeownership more accessible.
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How do first-time buyer mortgage rates compare to other mortgage rates?
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First-time buyer mortgage rates can vary depending on factors such as your deposit size, credit score, and lender criteria. In many cases, lenders offer competitive rates to help first-time buyers get on the property ladder. Our advisers can help you find the most appropriate deal available.
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How can a first-time buyer mortgage broker help me?
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A first-time buyer mortgage broker provides professional guidance on navigating the mortgage process. We compare deals from across the market, explain your options clearly, and help secure a mortgage that suits your needs.
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Can I get a first-time buyer mortgage with bad credit?
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Yes, but your options may be more limited. Some lenders offer first-time buyer mortgages designed for those with a less-than-perfect credit history. We can help you explore suitable options based on your circumstances.
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Should I get first-time buyer mortgage advice before applying?
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Yes. Getting first-time buyer mortgage advice ensures you understand your options, eligibility, and how to improve your chances of approval. Our experienced advisers can guide you through the process and help secure the most suitable deal.
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How long does the first-time buyer mortgage process take?
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The timeline varies depending on factors such as lender processing times, property searches, and legal work. On average, securing a first-time buyer mortgage can take between four and eight weeks.
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Can I get a mortgage as a first-time buyer with a government scheme?
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Yes, there are various government-backed schemes designed to support first-time buyers, such as the First Homes Scheme or Shared Ownership. We can help you explore these options and determine whether you’re eligible.
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What happens if I can’t keep up with my mortgage repayments?
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If you miss mortgage payments, your home may be at risk of repossession. It’s important to seek advice as soon as possible if you’re struggling. Our advisers can discuss potential solutions with you.
New build mortgages
Get professional advice on securing a mortgage for a new build property.
Home movers
Whether you’re upsizing or downsizing, we'll find the most suitable mortgage solution for your needs.
Remortgaging
Looking for a more suitable mortgage deal? Our remortgage brokers will help you explore your options and make the switch.
Buy to Let
If you’re investing in property, our advisers can help you find Buy to Let mortgages that align with your financial goals.
Some Buy to Let mortgages are not regulated by the Financial Conduct Authority.
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 with the most suitable first-time buyer mortgage.
- 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.
This is for illustrative purposes only and does not constitute financial advice
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.
