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. 

If you’re approaching retirement, you might think a mortgage is no longer possible. Many homeowners in South East London have been told the same thing: once you stop working, lenders lose interest.

But that’s no longer true.

Later-life borrowing has changed significantly. Whether you have an interest‑only mortgage nearing its end with no repayment plan, you want to move closer to family, or you’re considering releasing tax‑free capital from your home, there are now several real, regulated options, including Retirement Interest Only Mortgages, Equity Release Mortgages Service, and even standard repayment products that accept pension income.

The challenge isn’t a lack of choice. It’s knowing which option genuinely fits your life, your income, and the legacy you want to leave. That’s where independent, whole‑of‑market advice makes all the difference. Call Conran Mortgages on 020 8528 2251 for friendly advice – no obligation.

“A RIO mortgage can be a practical alternative to equity release for the right client profile, with monthly payments that keep the loan amount stable and protect your inheritance.” 

Four Ways to Borrow in Later Life

Broadly speaking, there are four types of mortgage designed for people entering or already in retirement. Each works differently, with its own affordability rules, repayment structure, and long-term impact on your estate.

1. Standard Repayment orInterest‑OnlyMortgages

A standard mortgage works exactly as it always has: the lender assesses your income and outgoings, and you make regular monthly payments. The difference is that, when you’re retired or close to retiring, your income will typically come from pensions, investments, or part-time work rather than a salary.

Many mainstream lenders will now consider borrowers up to age 70, 75 or even older. Some will set a maximum age at the end of the term, for example, lending up to age 85 on a repayment basis.

If you have a good pension income and a manageable loan amount, a standard mortgage (arranged as a home mover or remortgage) can be a perfectly straightforward solution in retirement.

Best for: Retirees or those soon retiring, with reliable pension income, who want a familiar structure and plan to repay the loan in full within a set term.

2. 2. Retirementinterest-only(rio) mortgage

A RIO mortgage is designed specifically for borrowers aged 55 and over who want to keep monthly payments low but can comfortably afford the interest for life. There’s no fixed end date – the mortgage continues until you pass away, move into long-term care, or sell the property. At that point, the capital is repaid from the sale proceeds.

Because you pay the interest every month, the amount you owe never increases. That’s a big difference from traditional equity release, where unpaid interest rolls up and can significantly reduce the inheritance you leave behind. RIOs are also typically cheaper to set up than lifetime mortgages.

However, lenders will carefully assess your ability to afford the monthly interest payments now and in the future – including after the first borrower dies if you’re applying jointly. Missing payments can lead to repossession, so a RIO is only suitable if your income is stable and predictable.

Best for: Retired homeowners (or those aged 55+ planning retirement) with dependable pension or investment income who want to control borrowing costs and protect their estate.

3. Lifetime Mortgage (Equity Release)

A lifetime mortgage allows you to release a tax-free lump sum from your home while retaining full ownership. You’re not required to make any monthly payments, instead, the interest is added (rolled up) to the loan each month. The debt grows over time and is typically repaid when you die or move into long‑term care.

Because there’s no compulsory monthly payment, affordability checks are much lighter than for a RIO. A lifetime mortgage can be the right answer if your income is modest or uncertain, or if you simply don’t want the commitment of regular interest payments. Many lifetime mortgages also come with a no‑negative‑equity guarantee, meaning you’ll never owe more than your property is worth.

The trade‑off is the effect of compound interest: the loan can double in size over a relatively short period, which reduces the value left for your loved ones.

Best for: Retired homeowners who need to release capital but don’t have sufficient regular income to service interest payments, and who are comfortable with the potential impact on their estate.

4. Home Reversion Plan

A home reversion plan is a less common form of equity release where you sell a portion (or all) of your home to a provider in return for a lump sum or regular payments. You continue to live in the property rent‑free for life. When you die or move into long‑term care, the property is sold and the proceeds are split according to the ownership shares.

Because you’re selling part of your home rather than taking out a loan, there’s no interest to pay. However, home reversion plans typically release less money than lifetime mortgages for the same property value, and you may lose standard repayment mortgages out on future house price growth on the portion you’ve sold. They are generally suited to older borrowers – often from age 60 or 65 upwards.

Best for: Retirees aged 65+ who want to release equity without any ongoing payments and are comfortable giving up a share of their property’s future value.

Which Option is Right for You?

There’s no single “best” mortgage into retirement, the right choice depends entirely on your personal circumstances, your income, your health, your family situation, and what matters most to you.

What Conran Mortgages Can Do For You

With 30+ years of combined experience and whole‑of‑market access, we help homeowners across South East London, particularly those approaching or in retirement, navigate the mortgage market and secure the right later‑life deal.

As independent brokers (a genuine differentiator in the later‑life lending space), we have no ties to any lender and no incentive to recommend one product over another. We’ll sit down with you, listen to your situation, and give you clear, honest advice about what will work for you. We also provide specialist advice on Remortgages, Self‑Employed Mortgages (if you’re semi‑retired or self‑employed later in life), and other tailored solutions.

Making the Right Decision for Your Retirement

Getting the right mortgage into retirement comes down to matching the product to your actual circumstances, your income, your home value, and what you want for the years ahead. Each of the four options has genuine pros and cons. The key is knowing which trade‑offs you’re comfortable with. You don’t need to figure this out alone. An independent broker can look at the whole market and give you a straight, no‑pressure recommendation.

Ready to explore your options? Call Conran Mortgages 020 8528 2251 or email hello@conranmortgages.co.uk. There’s no obligation, just a straightforward conversation about what’s possible for you.

Securing a mortgage when your credit history is less than ideal can feel overwhelming. Many people assume that missed payments, defaults, or past financial setbacks automatically disqualify them. In reality, the mortgage market has evolved significantly, and there are now more flexible options available than ever before. 

Lenders today often take a broader view of your financial situation. They look beyond your credit score and assess your overall affordability, stability, and recent financial behaviour. This means that even if you have experienced difficulties in the past, you may still have viable options. 

At Conran Mortgages, we work closely with clients to help them understand these options and move forward with confidence. If you are considering adverse credit mortgages, getting expert bad credit mortgage advice early can make a significant difference to your outcome. 

At Conran Mortgages, we bring decades of combined experience in arranging mortgages for clients with complex financial backgrounds. As an FCA-authorised, whole-of-market broker, we regularly support applicants with CCJs, defaults, and previous bankruptcy—many of whom have been declined elsewhere. 

Call us today on 020 8528 2251 or email hello@conranmortgages.co.uk to discuss your situation with an experienced advisor. 

Understanding How Credit History Influences Lenders 

Your credit history plays a key role in how lenders assess your application. However, it is not simply about a number or score. Lenders analyse patterns, timing, and context. 

They will typically review: 

• Missed or late payments on credit commitments 

• Defaults or arrears on loans or credit cards 

• County Court Judgements (CCJs) 

• Bankruptcy or Individual Voluntary Arrangements (IVAs) 

More importantly, lenders also consider: 

• How long ago these issues occurred 

• Whether your financial situation has improved 

• Your current income and stability 

• Your overall affordability 

For example, a missed payment from several years ago is viewed very differently from a recent default. This is why expert guidance is essential. 

If you are unsure how lenders may view your situation, seeking professional mortgage advice tailored to your circumstances can help you understand your position before applying. 

Why Choosing the Right Lender Is Crucial 

One of the most common mistakes borrowers make is assuming that all lenders operate in the same way. In reality, criteria can vary significantly. 

The right lender can: 

• Offer more competitive interest rates 

• Accept lower deposits in some cases 

• Consider the context behind credit issues 

• Take a more understanding view of past issues 

We regularly see clients declined by mainstream lenders, only to be accepted by specialist lenders who better understand their circumstances. 

By working with lenders offering specialist mortgage solutions for complex financial situations, we ensure applications are directed to providers most likely to approve them—reducing unnecessary rejections. 

Types of Lenders Available 

Understanding the different types of lenders can help you make more informed decisions. 

High Street Banks 

These lenders tend to have stricter lending criteria. They are more likely to accept applicants with minor or historic credit issues, but may decline those with recent problems. 

Specialist Lenders 

Specialist lenders assess applications individually. We frequently place cases with lenders who accept: 

• Recent defaults  

• Satisfied or unsatisfied CCJs  

• Applicants recently discharged from bankruptcy 

Building Societies 

Some building societies offer a more personalised approach. Manual underwriting can allow for greater flexibility, particularly where there is a clear explanation for past financial difficulties. 

When exploring adverse credit mortgages, identifying the right lender category is a key step towards success. 

What Lenders Look For Beyond Credit Scores 

While credit history is important, it is only one part of the picture. Lenders will assess your overall financial profile, including: 

Deposit size: A larger deposit reduces the lender’s risk 

Income stability: Consistent earnings provide reassurance 

Existing commitments: Lower debt improves affordability 

Spending habits: Responsible financial behaviour strengthens your case 

For instance, demonstrating stable employment and consistent repayments over the past 12–24 months can significantly improve your chances. 

Our UK bad credit mortgage guidance focuses on presenting your financial profile in the strongest possible way to lenders.