How much deposit do I need as a first-time buyer in the UK?

Most first-time buyers need a 5%–10% deposit. While 5% is the minimum for many lenders, a 10% deposit often unlocks better rates and more options.

Can I get a mortgage with bad credit as a first-time buyer?

Yes. Many lenders offer mortgages for buyers with defaults, missed payments or CCJs. You may need a higher deposit (often 10%–15%) and rates can be higher, but a specialist broker can find suitable lenders.

How long does the first-time buyer mortgage process take?

From application to mortgage offer, it usually takes 2–6 weeks depending on the lender, your documents, availability of valuation appointments and the complexity of your case.

What income do mortgage lenders count for first-time buyers?

Lenders typically count your basic salary plus regular overtime, bonuses, commission or benefits. Self-employed applicants use their SA302 tax calculations and yearly accounts.

Can I use a gifted deposit for my first home?

Yes. Most lenders accept gifted deposits from close family members. The gifter must provide ID, proof of funds and a signed letter confirming the money is not a loan.

What is an Agreement in Principle (AIP)?

An AIP is a lender check that shows how much you may be able to borrow. It isn’t a guaranteed mortgage offer, but it helps with making offers and shows sellers you are serious.

What fees do I need to budget for as a first-time buyer?

Typical fees include solicitor fees, survey or valuation fees, mortgage arrangement fees, moving costs and occasionally broker fees. Many first-time buyers forget to budget for these early.

Is it better to use a mortgage broker or go direct to a bank?

A broker can compare hundreds of lenders, find better deals, check affordability accurately and manage the entire process for you. Banks only offer their own products, which may limit your options.

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How Much Can I Borrow? UK Mortgage Affordability Guide 2025

First-Time Buyer Mortgage Guide 2025: Everything You Need to Know Before You Apply

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