Guides / First time buyer mortgages

Your first mortgage: what to expect

A guide to the mortgage process for first time buyers, from working out your budget to picking up the keys.

Before you start looking at properties, it's worth understanding roughly what you can afford and what a lender will consider when assessing your application. This includes your income, any existing debts, your outgoings and the size of deposit you have available. Getting a clear picture early saves time and disappointment later on.

Once you've had an initial conversation with an adviser and know your likely budget, you can start viewing with confidence. When you find a property and have an offer accepted, your adviser submits a full mortgage application to the chosen lender, who will arrange a valuation of the property before making a final decision.

From application to completion typically takes a matter of weeks rather than days, though timings vary depending on the lender and the chain you're part of. Your adviser should keep you updated throughout and your solicitor will handle the legal side of the purchase alongside the mortgage process. Your home may be repossessed if you do not keep up repayments on your mortgage.

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What our customers say

★★★★★

As first time buyers we had no idea where to start. They explained everything patiently and never made us feel rushed, even when we had the same question twice.

Amy RFirst time buyer, Exeter
★★★★★

They got in touch a few months before our fixed rate ended, which meant we avoided being moved onto a much higher rate without noticing. Wish we'd used them for our first mortgage too.

Chris and Nikki BHomeowners, Paignton
★★★★★

Buying our first rental property felt like a big step, but they talked us through the whole process and were honest about what we needed to think about beyond just the mortgage.

Michael DLandlord, Torquay