We've rebranded! Formerly known as Green Mortgages
We've rebranded! Formerly known as Green Mortgages
Buying your first home is exciting, but the mortgage process can feel like a new language. Deposits, agreements in principle, affordability checks, valuations and conveyancing all arrive at once, usually while you’re also deciding whether a property feels like home.
Once you know the order things happen in, it becomes much easier. You need a realistic budget, a clear paper trail for your deposit and the right information ready when the lender asks for it.
This guide explains how to get a mortgage as a first-time buyer, from working out your budget to collecting the keys. It covers the deposit and documents you may need, how lenders assess affordability, and the common mistakes that can make an otherwise straightforward application harder than it needs to be. You can also explore our first-time buyer mortgage options.
To get a mortgage as a first-time buyer, start by working out what you can comfortably afford and how much deposit you have. Get your documents and credit information in order, compare suitable lenders, and obtain an agreement in principle before or during your property search. Once your offer on a home is accepted, you can submit the full mortgage application, complete the valuation and legal work, exchange contracts and complete the purchase.
Most of the work happens before the application goes in, so good preparation matters.
The stages are broadly the same whether you apply directly or use an adviser. An adviser can compare lender criteria as well as rates, which can matter when your income, deposit, credit history or chosen property is less straightforward.
1. Work out your comfortable budget. Start with the monthly payment you could manage without making the rest of life uncomfortably tight. Then factor in the deposit, legal fees, survey costs, moving costs and any property tax due where you’re buying. It’s sensible to keep some money back for furniture, repairs and the expenses that seem to arrive as soon as you get the keys. Our mortgage payment calculator can give you an initial idea of the monthly figures.
2. Build your deposit and prove where it came from. Many first-time buyer mortgages are available with a deposit from around 5% of the purchase price, although the exact minimum depends on the lender, property and your circumstances. A larger deposit can open up more options and may improve the rate, but it shouldn’t leave you with no savings at all. The lender and solicitor will need to see a clear trail showing how the money was built up. If any of it is a gift, expect the person providing it to confirm that it is not a loan and that they won’t own part of the property.
3. Get your paperwork ready. You’ll usually need photo ID, proof of address, recent bank statements, evidence of income and proof of the deposit. Employed and self-employed applicants provide different income documents, and you’ll also need details of debts and regular commitments. Requirements vary, so your list may differ from somebody else’s.
4. Check your credit information before applying. A lender will review your credit history as part of the application. Checking the information held by the main credit reference agencies gives you time to correct an old address or an account you don’t recognise. You don’t need a flawless score to get a mortgage, and having some debt does not automatically rule you out. What matters is how the commitments affect affordability and how the accounts have been managed. Read more about getting a mortgage when you have debt.
5. Get an agreement in principle. An agreement in principle, sometimes called a decision in principle, gives an indication of how much a lender might be willing to lend based on the information provided. It can help set your property budget and show an estate agent that you’ve started the financial checks. It is not a mortgage offer or a guarantee. The lender still needs to assess the full application and the property, and the type of credit search used can vary between lenders.
6. Find a property and make an offer. Once you know the likely budget, you can view homes with a clearer idea of what is realistic. Consider more than the asking price: lease length, service charges, construction and condition can all affect the mortgage or your costs. The lender’s valuation is for its benefit, so you may also choose a separate survey.
7. Submit the full mortgage application. After the offer is accepted, the full application goes to the chosen lender. It will assess your income, outgoings, credit history, deposit and the property. A valuation is arranged and an underwriter may ask for more information. Clear, accurate documents make this stage much smoother. If something changes, such as your job, income, deposit or planned borrowing, tell your adviser before making any decisions rather than hoping it won’t matter.
8. Complete the legal work, exchange and collect the keys. Your solicitor or licensed conveyancer checks the title, carries out searches and reviews the contract. Once the mortgage offer and legal work are ready, contracts can be exchanged and a completion date agreed. On completion, the money is transferred and the property becomes yours.
A 5% deposit is a common starting point, meaning a £10,000 deposit on a £200,000 property, but it isn’t a universal rule. Some lenders or property types require more, and the available deals can change as your loan-to-value changes. With a 10% deposit, for example, you’re borrowing 90% of the property value rather than 95%, which may give you a wider choice of lenders and rates.
The deposit is only one part of the cash you’ll need. Keep a separate budget for the solicitor, searches, survey, mortgage or valuation fees where applicable, removals and any property tax. Tax rules and first-time buyer relief differ across England, Northern Ireland, Scotland and Wales, so the figure should be checked for the part of the UK where you’re buying.
Lenders don’t decide how much you can borrow from salary alone. They consider income, regular spending, debts, dependants, the mortgage term and the expected payment. They also look at whether the mortgage is likely to remain affordable if costs or rates change.
Two lenders can look at the same applicant and reach different answers because they may treat variable income, student loans, childcare, debt and employment history differently. That’s why a lower result from one bank doesn’t necessarily mean the same result everywhere. It does mean the borrowing still needs to be comfortable for you, not just acceptable to the lender. Our guide to what debt is considered in a mortgage application explains how existing commitments can affect the assessment.
The exact list varies, but getting the basics together early can save time. Documents commonly requested include:
Consistency matters. Names, addresses, income figures and deposit amounts should line up across the application and evidence. Genuine differences can usually be explained, but unexplained ones create questions and delays.
Most first-time buyer problems are avoidable. They usually come from starting too late, stretching the budget too far or making a financial change without realising it could affect the application.
Mistakes to avoid
There’s no trick that guarantees approval, but good preparation removes many avoidable obstacles. Pay commitments on time, avoid unnecessary new borrowing, keep your bank conduct steady and make sure the deposit can be evidenced. Raise anything unusual in your income or credit history early, so the lender can be chosen around the facts.
Stay responsive once the application starts. Lender questions are normal, and sending clear information promptly helps prevent the mortgage offer becoming the last part of the purchase to arrive.
At Proper Advice, we compare options from over 90 high street and specialist lenders. We’ll help you understand the budget, check the documents upfront, explain the recommendation in plain English and manage the lender, estate agent and solicitor queries through to completion. We also review the available rate while the application is progressing.
To discuss buying your first home, fill out our contact form, call 01244 955 399 or email info@properadvice.co.uk.
Potentially. Some lenders offer mortgages at 95% loan-to-value, which means a 5% deposit, but availability depends on your affordability, credit history and the property. A larger deposit can widen the choice, but the right balance should still leave money for fees and an emergency buffer.
There isn’t one income multiple for everyone. Lenders assess income alongside debts, childcare, household costs, the mortgage term and the proposed payment. Treatment of overtime, bonus and commission also varies. An agreement in principle gives an early indication, but the final amount is confirmed only after the full application and property assessment.
No. It is an initial indication based on the information checked at that stage. The full application still needs underwriting, supporting evidence and a satisfactory property valuation. The result can change if the information or your circumstances change, or the property falls outside the lender’s criteria.
Having debt doesn’t automatically stop you getting a mortgage. The lender looks at the balances, monthly payments, credit history and income left after your commitments. Larger repayments can reduce how much you can borrow. Check the wider impact before paying debts off or moving them purely for an application.Your home may be repossessed if you do not keep up repayments on your mortgage.
