Mortgage Into Retirement – What Are Your Options? 

Buying your first home in Bromley should feel exciting, not overwhelming. But with rising rents, changing interest rates, and a mortgage market that seems to invent new jargon every year, many first-time buyers feel stuck before they’ve even started. You might be wondering: How much deposit do I really need? Am I eligible for any government help? And who can I trust to guide me through it all? 

The good news? You don’t need to be a mortgage expert to buy your first home. You just need the right guide. As independent, fee-free mortgage brokers with over 30 years of experience helping South East London buyers, we’ve helped hundreds of first-time buyers in Bromley, Greenwich, and across SE London step onto the property ladder with confidence. 

Call us today on 020 8528 2251 for a no-obligation chat about your situation. We’ll tell you exactly what’s possible. 

“Buying your first home is one of the biggest decisions you’ll ever make. You shouldn’t have to figure it out alone. A good broker doesn’t just find you a mortgage, they walk with you through every stage, from ‘Am I ready?’ to picking up the keys.”

The First-Time Buyer Journey in Bromley: What to Expect in 2026 

Every first-time buyer’s journey looks slightly different, but most follow the same core path. Understanding these stages upfront removes uncertainty and helps you move faster when you find the right property. 

Stage 1: Know your numbers (before you view a single property) 

Many buyers make the mistake of falling in love with a home before they know what they can afford. Start here instead: 

• Check your credit score (and improve it if needed) 

• Gather payslips, bank statements, and proof of any bonuses or commission 

• Self-employed? Gather your last two to three years of tax calculations and SA302 forms 

Stage 2: Get an Agreement in Principle (AIP) 

An AIP is a lender’s initial indication of how much they might lend you. It takes minutes to arrange, costs nothing, and tells you your realistic budget. Crucially, it also shows estate agents you’re a serious buyer. 

Stage 3: Find your home — then move fast 

Once you have your AIP and know your budget, you can view properties with confidence. When you find the right one and your offer is made, that’s when your mortgage application properly begins. 

Stage 4: Full mortgage application 

Your broker submits your full application with all supporting documents. The lender conducts a valuation and final affordability check. This stage typically takes two to four weeks. 

Stage 5: Mortgage offer to completion 

Once you have a formal mortgage offer, solicitors handle the legal work. Exchange of contracts happens, then completion – the day you finally collect the keys. 

First-Time Buyer Eligibility & Affordability Checks in 2026 

Lenders don’t just look at your income. They look at your circumstances. Here’s what they typically assess: 

• Income: Salaried, self-employed, contractor — all treated differently 

• Regular outgoings: Childcare, credit card payments, car finance, even subscriptions 

• Credit history: Defaults, CCJs, or late payments can affect which lenders say yes 

• Deposit size: Generally 5% to 10% of the purchase price is normal but those who have a higher deposit (i.e. 25%) will benefit from a cheaper mortgage rate.  

A common question we hear is: “I’m self-employed — can I even get a mortgage?” Absolutely. You just need a broker who knows which lenders are self-employed friendly. In fact, the FCA is currently consulting on making it easier for lenders to serve consumers with irregular income, which is good news for self-employed buyers. 

If you’re worried about eligibility, don’t guess. Visit our dedicated first-time buyer page here to see how we assess your situation before we even approach lenders. 

How Much Deposit Do I Need in Bromley in 2026? 

The minimum deposit for most first‑time buyer mortgages in the UK is 5% of the purchase price (some lenders have solutions with 3%). On a typical Bromley home priced at £340,000, a 5% deposit on that £340,000 home would be £17,000. A 10% deposit usually unlocks better interest rates and more lender choices. If you can stretch to 15% or more, you’ll often get the very best rates and the widest range of options. 

But deposit isn’t your only upfront cost. You’ll also need: 

• Stamp Duty – first-time buyers pay no Stamp Duty up to £300,000, then 5% on the portion from £300,001 to £500,000 

• Solicitor fees  

• Survey costs  

• Mortgage product fee charged by the lender (sometimes added to the loan) 

If saving a deposit feels impossible, don’t lose hope. There are other solutions possibly available such as joint borrower, sole proprietor mortgages, a form of guarantor mortgage.  

Why a Local Mortgage Broker in Bromley Makes All the Difference 

You could apply directly to a bank. You could spend evenings Googling or Chat GPTing “best mortgage deals” and still not know if you qualify. Or you could work with a local, independent, fee-free broker who does this every single day. 

Here’s what a mortgage broker in Bromley like Conran Mortgages actually does for you: 

• Whole-of-market access: We’re not tied to any lender. We search the entire market, not just one panel. 

• Fee-free for traditional mortgages: Unlike many brokers who charge fees of up to 1% of the loan amount, we charge you nothing for traditional mortgages. 

• Specialist knowledge for local buyers: We know Bromley, Greenwich, Brockley, and SE London inside out — including local prices, solicitors, and surveyors. 

• Self-employed? Bad credit? Complex income? We know exactly which lenders say yes. 

• Dedicated case manager: No call-centre handoffs. One person handles your case from start to finish. In fact, at Conran Mortgages, you will get to know our team very well. 

Curious how the process works from first call to completion? Read our step-by-step mortgage journey guide here. 

Ready to Stop Renting and Start Owning in Bromley? 

First-time buying isn’t about knowing everything. It’s about trusting someone who does. As independent, fee-free brokers with 30+ years of experience, FCA authorisation, and a genuine relationship-led approach, we’ve helped hundreds of first-time buyers in Bromley, Greenwich, and across SE London secure the right mortgage for their life, not just the cheapest deal of the day. 

Whether you have a 5% deposit or 25%, whether you’re employed, self-employed, or have a complex credit history, we’ll give you a straight answer. No fees for traditional mortgages. No hidden agendas. Just honest, human advice from people who genuinely care. 

Ready to take the first step? Call us today on 020 8528 2251 for a no-obligation conversation. Or visit our homepage to learn more about how we work. 

Frequently Asked Questions  

1. Can I get a mortgage with a 5% deposit in Bromley in 2026?

Yes, 5% deposit mortgages (95% loan-to-value) are available in 2026 through the government’s permanent Mortgage Guarantee Scheme. You’ll need a good credit history and stable income. Your interest rate will be higher than with a larger deposit, but it’s a genuine pathway to homeownership.  

2. How much can I borrow as a first-time buyer?

Most lenders will lend between 4 and 4.5 times your annual income. Some specialist lenders go up to 5 or even 6 times income for certain professions (e.g., doctors, accountants, solicitors). Your affordability also depends on regular outgoings like childcare, car finance, and credit card payments. We calculate your maximum borrowing before you start viewing properties. 

3. What government schemes are actually still available for first-time buyers in 2026?

The main schemes available now are: 

• Shared Ownership (buy a share, rent the rest) 

• Mortgage Guarantee Scheme (5% deposit mortgages) 

• First Homes Scheme (30-50% discount, local eligibility) 

• Lifetime ISA (25% government bonus on savings) 

4. Do you offer guarantor mortgages

Yes, there are many solutions where a family member or even a friend can be a joint borrower without going onto the Deeds, this is beneficial as if they are already a home owner, you would normally have to pay the additional Stamp Duty of 5%, but with one of these mortgages, you don’t! Expert advice is needed and we are well-positioned to help. 

5. How long does the whole mortgage process take from application to completion?

Typically, 6 to 12 weeks from full mortgage application to collecting the keys. The mortgage offer itself usually takes 2–4 weeks. The rest is legal work (searches, contracts, exchange). However, good broker and solicitor can speed things up. 

6. What documents will I need to provide?

You’ll need, proof of ID (passport or driving licence), proof of address (recent utility bill or bank statement), last 3 months of payslips (if employed), last 2–3 years of accounts or SA302s (if self-employed), bank statements (3–6 months) and proof of deposit (savings statements or gift letter). When you work with professionals like us, we will send you a personalised checklist, so you know exactly what to gather.