Indicative Rates
BoE Base3.75%
Nationwide2yr Fix3.59%↓ 0.04£999 fee
NatWest2yr Fix3.70%£1,495 fee
Barclays2yr Fix3.70%↑ 0.05£899 fee
HSBC2yr Fix3.76%£999 fee
HSBC5yr Fix3.88%£999 fee
NatWest5yr Fix3.85%£1,495 fee
Barclays5yr Fix4.00%↑ 0.10£899 fee
Nationwide5yr Fix4.04%↓ 0.03£999 fee
Nationwide2yr Fix3.59%↓ 0.04£999 fee
NatWest2yr Fix3.70%£1,495 fee
Barclays2yr Fix3.70%↑ 0.05£899 fee
HSBC2yr Fix3.76%£999 fee
HSBC5yr Fix3.88%£999 fee
NatWest5yr Fix3.85%£1,495 fee
Barclays5yr Fix4.00%↑ 0.10£899 fee
Nationwide5yr Fix4.04%↓ 0.03£999 fee
Nationwide2yr Fix3.59%↓ 0.04£999 fee
NatWest2yr Fix3.70%£1,495 fee
Barclays2yr Fix3.70%↑ 0.05£899 fee
HSBC2yr Fix3.76%£999 fee
HSBC5yr Fix3.88%£999 fee
NatWest5yr Fix3.85%£1,495 fee
Barclays5yr Fix4.00%↑ 0.10£899 fee
Nationwide5yr Fix4.04%↓ 0.03£999 fee
AVG 2YR4.53%
AVG 5YR4.94%
--:--:--60% LTV · Feb 2026

Mortgage Services

First-Time Buyer Mortgages

Getting on the property ladder is one of the biggest financial decisions you'll make. Our expert advisers help first-time buyers navigate the process with confidence.

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With house prices rising, getting on the ladder sooner means paying less. Start today.

What is a first-time buyer mortgage?

A first-time buyer mortgage is specifically designed for people who have never owned a property before. Many lenders offer special deals and incentives for first-time buyers, including lower deposit requirements, fee-free products, and cashback offers. Our first-time buyer guide covers everything you need to know.

As a first-time buyer, you may also qualify for stamp duty relief and various government-backed schemes that can make home ownership more affordable.

How we help first-time buyers

Our experienced mortgage advisers will:

  • Assess your affordability — use our affordability calculator to understand exactly how much you can borrow and what your monthly payments will be
  • Search the whole market — compare deals from over 90 lenders to find the best rate for your circumstances
  • Guide you through the process — from application to completion, we handle the paperwork and keep you informed. See how it works
  • Advise on available schemes — shared ownership, First Homes, and lender-specific first-time buyer products
  • Protect your investment — recommend appropriate insurance cover for your new home

Free Consultation

Ready to Buy Your First Home?

Get a free, no-obligation mortgage quote in minutes. Our advisers specialise in helping first-time buyers.

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No upfront fees Whole of market FCA regulated

First-time buyer eligibility

To qualify as a first-time buyer, you must never have owned a residential property anywhere in the world. Key requirements typically include:

  • A minimum deposit of 5% (though more is better)
  • A stable income — employed or self-employed for at least 6-12 months
  • A reasonable credit history (we can also help with adverse credit)
  • Proof of identity and address
  • Bank statements showing your spending habits

Frequently Asked Questions

How much deposit do I need as a first-time buyer?
Most lenders require a minimum deposit of 5% of the property price, though some government-backed schemes may offer alternatives. A larger deposit (10-20%) will typically get you access to better interest rates.
Can I get a mortgage with no deposit?
While 100% mortgages are rare, there are options such as guarantor mortgages where a family member can help. We can advise on all available schemes to help you get on the property ladder.
What is the Help to Buy scheme?
The Help to Buy equity loan scheme has now closed, but there are other support options available for first-time buyers including shared ownership, First Homes, and various lender-specific products. We can guide you through current options.
How much can I borrow as a first-time buyer?
Most lenders will lend between 4-5 times your annual income, though this varies based on your circumstances, credit score, existing debts, and the lender. Use our affordability calculator for an estimate.
Do I need to pay stamp duty as a first-time buyer?
First-time buyers in England and Northern Ireland currently pay no stamp duty on the first £300,000 of properties up to £500,000. On properties between £300,001 and £500,000 you pay 5% on the portion above £300,000. Properties over £500,000 are charged at standard rates.
What fees are involved in buying my first home?
Beyond the deposit, expect to pay for a survey/valuation (£250-£1,500), solicitor/conveyancing fees (£1,000-£2,000), and our broker fee. We'll provide a full breakdown of expected costs upfront.

Tools & guides for first-time buyers

Affordability Calculator

Find out how much you could borrow

Mortgage Calculator

Estimate your monthly payments

Stamp Duty Calculator

Check your stamp duty with FTB relief

First-Time Buyer Guide

Everything you need to know

Mortgage Glossary

Understand mortgage jargon
MB

Expert reviewed by

Mark Beck

Mortgage Adviser · CeMAP

This page was reviewed by Mark, a CeMAP-qualified mortgage adviser at Option Finance. All content is checked for accuracy and kept up to date.

Get Started Today

Ready to buy your first home?

Get free, no-obligation mortgage advice from our expert team. We'll find the best deal for you.

Don't delay — mortgage rates change daily

Apply Now Call 01332 470 400
5.0 Google Rating · FCA Regulated · No Upfront Fees