First Time Buyers Mortgage
Call us on 0808 231 1073, Lines open 24 hours, 7 days a week
As an independent mortgage advisor we have access to mortgages from the whole UK intermediary market, some of which are only available via brokers like ourselves. Due to the volume of mortgages we arrange and our relationships with lenders we also have access to exclusive rates that other brokers do not have available.
We can also advise on the Government’s Help to Buy scheme
Buying your first home is an exciting time
but for many it can be very daunting and confusing. Our experienced mortgage advisors will guide you through the process and provide you with a step by step document to help you understand what happens next. Our Mortgage Service Centre will also be in regular contact to update you with the progress of your application.
Need to know the difference between variable and tracker mortgages?
Don’t know your LTV and what APR is? We can help guide you through the process from start to finish and provide you with the most suitable advice for your needs. Contact us today on 0808 231 1073 or fill in our simple to use contact form and our mortgage broker will get back in touch with you.
First-time buyers can choose from a wide range of mortgages, often starting with as little as a 5 % deposit. Larger deposits usually unlock better interest rates, and some may qualify for schemes such as Shared Ownership, 95 % mortgages, Family Help or guarantor mortgages. At Flagstone, we compare deals across the whole market to find the most suitable product for your situation.
Most first-time buyers need a deposit of 5–10 % of the property’s value. For example, a 5 % deposit on a £250,000 home equals £12,500, while a 10 % deposit equals £25,000. The more you can put down, the lower your loan-to-value (LTV) ratio – which typically leads to better mortgage rates and smaller monthly repayments.
In the UK, there’s no fixed credit-score threshold, lenders will set their own parameters. They will also look for evidence you can manage borrowing responsibly. Affordability is therefore a really important factor. A good credit history, minimal existing debt, and up-to-date bill payments will strengthen your application. Even if your score isn’t perfect, Flagstone can help identify lenders who take a more flexible view of affordability.
Lenders check your details and property ownership history through credit checks and land-registry records. If you’ve never owned a property – whether bought, inherited, or jointly held – you’ll be classified as a first-time buyer. Your adviser will also confirm this when submitting your mortgage application to ensure you qualify for first-time buyer rates or schemes.
FTB stands for First-Time Buyer – someone purchasing a property for the first time and who has never owned a home before. Many lenders offer special products, incentives, or reduced fees for FTBs to make home ownership more accessible.
Yes. Most UK lenders offer mortgages specifically designed for first-time buyers, often with deposits as low as 5 %. Flagstone’s advisers can assess your income, credit profile, and deposit to match you with suitable lenders and guide you through each step of the process.
To improve your chances of securing a first-time buyer mortgage:
– Save for a deposit – the larger it is, the better your rate.
– Check your credit score and clear any small debts early.
– Having some credit can help as long as it has been paid on time, as this will show you are used to regularly paying a commitment
– Review your income and outgoings to understand what’s affordable.
– Consider government schemes that reduce deposit requirements.
– Speak to an independent adviser like Flagstone to find the right lender and get a Decision in Principle before you make an offer.
A mortgage allows first-time buyers to borrow money to purchase a home, using the property as security for the loan. You’ll typically pay a deposit and then repay the balance, plus interest, over an agreed term – often 25 years. Flagstone helps first-time buyers understand affordability, compare deals, and manage the full application process from start to finish.
Most lenders offer borrowing of around 4–5 times your annual income, but this can vary depending on deposit size, outgoings, and credit profile. At Flagstone, we run full affordability checks to give you a realistic borrowing range before applying, helping you budget confidently for your purchase.
Interest-only mortgages are rare for first-time buyers, as most lenders require a strong repayment strategy or significant assets to clear the balance later. These products are typically aimed at experienced homeowners or investors. Flagstone can review your circumstances and advise whether an interest-only option is available – or if a standard repayment mortgage is more suitable.
