First-time buyers

Your first home starts with understanding your options.

Buying your first property is a major financial step. Our advisers help you understand affordability, deposits, lender criteria and the mortgage process before helping manage your application through to completion.

Speak to an adviser See how it works

+44 (0)20 7459 4822 enquiries@intra-pf.com

Starting point

Understand affordability

Support

Through to completion

Buying your first home

Knowing where to start can be the hardest part.

A first-time buyer mortgage is not necessarily a single type of mortgage. Different lenders offer different criteria, products and affordability assessments for people entering the property market.

Your deposit, income, commitments, credit history and the property you want to buy can all influence which lenders may be suitable. The first step is therefore understanding your own position before focusing on individual mortgage products.

Intra can help you assess your borrowing position, understand the likely costs involved and prepare for the mortgage process before you begin making offers on properties.

✓Understand borrowing capacity

✓Review deposit requirements

✓Research lender criteria

✓Prepare for your application

Preparing to buy

What lenders may consider.

Mortgage lenders assess far more than salary alone. Understanding the wider picture can help you prepare before a full application is submitted.

Deposit

The amount you have available for your deposit can influence both the lenders available and the mortgage rates you may be able to access.

Income

Lenders will consider your income differently depending on whether you are employed, self-employed, contracting or receive additional earnings such as bonuses or commission.

Monthly commitments

Loans, credit cards, car finance, childcare costs and other regular commitments can affect lender affordability calculations.

Credit profile

Your credit history and existing financial commitments form part of the lender's assessment, although criteria vary significantly between lenders.

Property

The type, construction, location and value of the property can also affect which lenders are prepared to consider the application.

Purchase costs

Your budget should also allow for legal fees, surveys, moving costs and any tax that may apply to the purchase.

Your deposit

Your deposit can shape the mortgage options available.

Some lenders may consider first-time buyers with relatively small deposits, while others require a larger contribution. The amount you put down can affect both lender choice and the pricing of the mortgage.

It is also important to keep enough money aside for the wider costs of buying a property rather than committing every available pound to the deposit.

Discuss your deposit

Remember

Your purchase budget should account for more than the deposit alone.

Family-assisted buying

Help from family can be structured in different ways.

A gifted deposit is one common route, but depending on the circumstances there may be other lender structures that allow family members to support the purchase.

Family-assisted deposits

Many first-time buyers receive help from parents or relatives. We can discuss how gifted deposits and other family-assisted structures may be treated by different lenders.

Joint borrower arrangements

In some circumstances, structures such as joint borrower sole proprietor mortgages may be considered where additional income support is required.

Complex income

Contracting, self-employment, bonus income, overseas earnings and other non-standard income sources can require a more detailed lender assessment.

Your first purchase

From first conversation to getting the keys.

The exact process can vary, but most first-time buyer purchases move through a similar sequence of affordability assessment, property search, application, valuation, legal work and completion.

Understand your position

We begin with your income, commitments, deposit, credit position, property plans and wider circumstances so your adviser can establish a realistic starting point.

Assess affordability

Your adviser considers how different lenders may assess your income and commitments and discusses an appropriate borrowing range.

Mortgage in Principle

Where appropriate, an Agreement or Mortgage in Principle can give you an indication of potential borrowing before you begin making offers.

Find your property

Once you have found a property and had an offer accepted, we can review the lending position again against the specific property and purchase price.

Apply

We prepare and submit the mortgage application with the required supporting documentation and help manage lender queries and valuation.

Offer & completion

Once the mortgage is approved, we remain available through mortgage offer, exchange of contracts and completion.

Purchase costs

Remember the costs beyond the mortgage.

Buying a home involves several costs in addition to your deposit.

These may include solicitors' fees, surveys, lender or broker fees where applicable, moving costs and Stamp Duty Land Tax. First-time buyer SDLT relief may be available in England and Northern Ireland subject to the rules in force at the time of purchase.

Tax rules can change, so you should confirm the current position before committing to a purchase.

View our calculators→

Lender access

First-time buyer criteria varies by lender.

Some lenders may be more comfortable with smaller deposits, gifted funds, probation periods, complex income or particular property types than others. That difference in criteria is one reason adviser research can matter.

High street banksBuilding societiesSpecialist lendersPrivate banks

Lender availability and suitability depend on individual circumstances and lending criteria.

Why Intra

Guidance through a process you may be experiencing for the first time.

Your adviser is supported by a dedicated administration team, helping manage the practical side of the application as well as the mortgage research itself.

Understand before applying

We begin with your circumstances rather than immediately submitting an application to a lender.

Research lender criteria

Different lenders assess affordability, deposits, employment and property differently.

Help with preparation

We can explain the documentation typically required and help you prepare for the application process.

Support through completion

Our team remains involved as the case progresses through underwriting, valuation, offer and completion.

Other mortgage requirements

Your circumstances may lead to a different mortgage route.

Mortgages

Home Movers

Advice when selling your existing property and arranging borrowing for your next home.

Complex income

Self-Employed & Contractors

Mortgage advice for applicants whose income may require more detailed lender assessment.

Higher-value lending

Large Mortgages

More substantial residential borrowing across mainstream, specialist and private-bank lending routes.

Frequently asked questions

First-time buyer questions.

These answers are general. Your own mortgage options will depend on your circumstances and lender criteria.

How much deposit do first-time buyers need?

Deposit requirements depend on the lender, the property and your circumstances. Some lenders may consider applications with relatively small deposits, while a larger deposit can often give you access to a wider range of mortgage options.

What is a Mortgage in Principle?

A Mortgage in Principle, sometimes called an Agreement in Principle or Decision in Principle, is an indication from a lender of how much it may be prepared to lend based on preliminary information. It is not a formal mortgage offer and remains subject to full underwriting and property assessment.

How much can I borrow?

The amount you can borrow depends on factors including income, financial commitments, deposit, credit profile and lender criteria. Different lenders can assess the same circumstances differently, which is why adviser research can be valuable.

Can my parents help with my deposit?

Yes, many lenders accept gifted deposits from close family members, although documentation and lender requirements vary. Other forms of family assistance may also be available depending on the circumstances.

Do first-time buyers pay Stamp Duty?

First-time buyer Stamp Duty relief may apply in England and Northern Ireland depending on the purchase price and eligibility rules in force at the time. Tax rules can change, so current thresholds should always be checked before relying on them.

Can I get a mortgage if I have just changed jobs?

Potentially. Lenders take different approaches to probation periods, new employment, career changes and future start dates. The outcome will depend on the lender and your wider circumstances.

How long does the mortgage process take?

Timescales vary significantly depending on the lender, property, valuation, documentation and wider conveyancing process. Your adviser and administration team can help keep you informed as the application progresses.

Your home or property may be repossessed if you do not keep up repayments on your mortgage or other loan secured upon it.

Start your first purchase

Start by understanding what may be possible.

Speak with an Intra adviser about your income, deposit and property plans and we can help you understand the next steps.

Speak to an adviser +44 (0)20 7459 4822

enquiries@intra-pf.com