First-Time Buyer Calculator
A single view of everything a UK first-time buyer needs: affordability, stamp duty relief, deposit and total cash at completion.
A first-time buyer on £0 income with £0 deposit could buy a home worth up to £0 with a £0 mortgage. No SDLT — below the first-time buyer nil-rate band.
The full picture
How first-time buyer purchases work
What drives your max price
- Income × 4.5 → your maximum loan
- Loan + deposit = your maximum price
- Stress-test can lower this further if outgoings are heavy
Cash needed at completion
- Deposit (typically 5–10%)
- SDLT if above £300k (or £0 up to £300k with FTB relief)
- Solicitor + survey (~£2k)
- Mortgage product fee (optional — can be added to loan)
Frequently asked questions
How much can a first-time buyer borrow?
Typically 4.5× annual income in the UK, limited by a stress-test at ~7.5%. Some lenders go to 5.0–5.5× for professionals or high earners. Deposit size doesn't change affordability but determines LTV and rate.
Do first-time buyers pay stamp duty?
In England & NI, 0% up to £300,000 and 5% from £300,001–£500,000. Above £500,000 relief is withdrawn and standard SDLT rates apply to the full price. Scotland and Wales have different rules.
What's the minimum deposit as a first-time buyer?
Most UK lenders accept 5% deposit for FTB (95% LTV), though rates are sharper at 10% (90% LTV) and 15% (85%). A LISA adds a 25% government bonus — up to £1,000/year free money toward your deposit.
What other costs should I budget for?
SDLT (if over £300k), solicitor fees (~£1,200), surveys (~£500), mortgage fees, removals. This calculator adds a £2,000 estimate for legal + survey. Total is usually 2–4% of the purchase price.
Can I use schemes like Shared Ownership?
Yes — Shared Ownership lets you buy 25–75% of a home and rent the rest. Effective deposits can be as low as 5% of your share (not the full value). Shared Ownership calcs aren't covered here; speak to a specialist broker.
Reviewed by the Mortgage118 editorial team. Combines affordability, SDLT and deposit models. SDLT calculation uses England & NI FTB relief — use LBTT/LTT calculators for Scotland/Wales. This calculator provides an estimate only.