You’re not alone if you’ve spent nights browsing the property portals and estate agents’ websites, calculating deposits, and wondering how on earth mortgage rates actually work. The reality is that with high demand and fast-moving markets, first-time buyers face more pressure than ever in 2025. But it’s not all bad news—there are real, achievable ways to get on the ladder if you’re prepared and supported by the right advice.

Whether working with a tight budget or unsure how much you can borrow, this guide will walk you through a step-by-step guide to mortgages for first-time buyers navigating London’s complex mortgage market in 2025, so buying your first home doesn’t feel like a guessing game.

Confused by mortgage jargon or worried you’ll make a costly mistake? Why not speak with the friendly experts at Conran Mortgages — South East London’s go-to brokers with no broker fees, personalised advice, and exclusive deals not found on the high street.

Contact us on 020 8528 2251 or email us at hello@conranmortgages.co.uk and let us make your first home purchase smooth and stress-free.

At Conran Mortgages, we offer honest, fee-free advice to first-time buyers—helping you secure the best deal from start to keys.

First-Time Buyer Mortgages Guide

Step 1: Understand What a First-Time Buyer Mortgage Actually Is

A first-time buyer mortgage is a standard residential mortgage specifically tailored to help people who have never owned a home. While these mortgages are often available to all types of buyers, lenders sometimes offer special rates or incentives to first-time buyers to make the process more affordable and accessible.

Depending on the first-time buyer mortgage requirements, some lenders may be more lenient with deposit amounts and income, particularly if you’re using a guarantor or buying through a government scheme.

You are considered a first-time buyer if:

• You have never owned a residential property in the UK or abroad
• You are purchasing your only or main home
• You are not buying with someone who has owned a property before (if so, you may not be eligible for some schemes)

Understanding your first-time buyer mortgage eligibility early can save time and reduce stress later in the first-time buyer mortgage process.

Step 2: What Do You Need To Get a First-Time Buyer Mortgage?

To qualify under the first-time buyer mortgage requirements, you’ll typically need to provide:

• Proof of income: Payslips, bank statements, and tax returns if you’re self-employed
• A good credit score: Lenders want to see that you’ve managed credit responsibly in the past
• Deposit: Generally, you’ll need at least 5–10% of the property’s value
• Affordability checks: Lenders will review your monthly income vs outgoings

Understanding what lenders look for is key to preparing properly and improving your first-time buyer mortgage eligibility. If you’re unsure where to begin, getting first-time buyer mortgage advice from a broker can help you meet the specific criteria more easily.

Step 3: How Much Do You Need For A Deposit?

The more you can save, the more favourable your deal will be. That’s why the deposit for first-time buyer mortgage products is often a key conversation with lenders.

Here’s a rough breakdown:

• 5% deposit: Minimum requirement, higher rates
• 10% deposit: Better rates and wider lender choice
• 15%–25% deposit: Access to the most competitive deals

Struggling to save a deposit for a first-time buyer mortgage? Options include:

• Help from family (guarantor loans)
• Government schemes like Shared Ownership or First Homes
• A Lifetime ISA

The size of your deposit for a first-time buyer mortgage can significantly impact how smoothly your mortgage process goes.

Step 4: Getting A Mortgage In Principle (Agreement In Principle)

A Mortgage in Principle (also called an AIP) is a non-binding estimate of what a lender may offer you. It’s a vital part of the first-time buyer mortgage process, and having one can:

• Show estate agents you’re a serious buyer.
• Help define your property budget.
• Identify credit issues early.

Be cautious—too many applications can hurt your credit. A broker offering first-time buyer mortgage advice will help secure an AIP through lenders that do soft checks, protecting your creditscore.

Step 5: Choosing The Right Mortgage Type

As a first-time buyer, selecting the right mortgage can feel overwhelming. There are several types to consider:

• Fixed-rate: Predictable payments
• Variable/tracker: Flexible but can rise
• Guarantor or family support: Useful for low deposits
• Joint borrower sole proprietor: Parents can help without co-owning
• Springboard mortgages: Family support through linked savings

Each can play a part in tailoring your first-time buyer mortgage process to suit your income and plans. For personalised recommendations, seek professional first-time buyer mortgage advice from a broker who understands your situation.

Step 6: What Other Costs Should You Expect?

Don’t forget about these essential home-buying costs:

Expense	Typical Cost
Stamp Duty	0% up to £425,000 (for first-time buyers)
Mortgage Arrangement Fee	£0–£1,500
Valuation Fee	£0–£800
Legal Fees (Conveyancing)	£800–£1,500
Moving Costs	£300–£1,000+
Home Insurance	£10–£40/month

Use our Stamp Duty Calculator to determine exactly what you’ll pay.

Planning for these will strengthen your first-time buyer mortgage eligibility, as lenders look at available savings beyond your deposit.

Step 7: Tips To Boost Your Mortgage Eligibility

Here’s how to boost your first-time buyer mortgage eligibility:

• Register to vote at your current address
• Pay down high-interest debts
• Avoid taking out new loans or credit cards
• Save regularly to show financial discipline
• Keep your credit utilisation under 50%
• Use a credit builder card if you lack history

Getting independent first-time buyer mortgage advice at this stage can help identify obstacles early and ensure you present your finances in the best possible light.

Step 8: The Mortgage Application Process Explained

Here’s a typical timeline for the first-time buyer mortgage process:

1. Offer accepted
2. Full application submitted
3. Lender conducts a valuation
4. Mortgage offer issued
5. A solicitor handles legal checks
6. Contracts exchanged
7. Completion – you get your keys!

A smooth experience depends on how well-prepared you are—understanding your first-time buyer mortgage requirements from day one can prevent frustrating delays.

Step 9: Choose The Right Mortgage Broker

Choosing the right mortgage broker can make all the difference, especially if you’re unsure how to navigate all the first-time buyer mortgage requirements or are dealing with unique financial circumstances.

Benefits of using a broker:

• Access to exclusive deals
• No broker fees with Conran Mortgages
• Full support and hand-holding throughout the process
• Honest and tailored first-time buyer mortgage advice

Whether you’re working with a tight budget or want guidance through every stage, our brokers are here to simplify the first-time buyer mortgage process.

Buying Your First Home In London, Kent or Surrey? Connect With Conran Mortgages Today!

So, that’s the first-time buyer mortgages guide, which can help you make informed decisions, avoid costly mistakes, and find the perfect mortgage for your needs.

At Conran Mortgages, we make buying your first home in London simple and stress-free. With years of experience, our certified experts offer no-fee, tailored mortgage advice for first-time buyers. From deposit planning to securing exclusive deals, we guide you every step of the way with clear, honest support you can trust.

Click here to Learn more about us.

Get in touch today on 020 8528 2251 or email us at hello@conranmortgages.co.uk for personalised guidance and support in buying your first home.