First Time Buyer mortgages

First-time buyers can typically get mortgages with deposits as low as 5% of the property value, though 10% is more common. Some government schemes may allow even lower deposits with additional support.

First-time buyers can access schemes like Help to Buy, Shared Ownership, and First Homes. These schemes can help with deposits and make homeownership more affordable.

If you've inherited a property, you may not qualify as a first-time buyer for certain schemes and products. However, you may still be eligible for first-time buyer mortgages depending on the lender's criteria.

No, first-time buyer mortgages are typically for residential properties only. Buy-to-let mortgages have different criteria and are not usually available to first-time buyers.

You'll need proof of income, bank statements, identification, and proof of deposit. Your broker will provide a comprehensive checklist of all required documents.

Help to Buy is a government scheme that provides an equity loan of up to 20% (40% in London) of the property value, allowing you to buy with just a 5% deposit. The loan is interest-free for the first 5 years.

Yes, many lenders offer 95% loan-to-value mortgages for first-time buyers, though you may need to pay higher interest rates and potentially higher fees. Government schemes can also help with smaller deposits.

Shared Ownership allows you to buy a share of a property (usually 25-75%) and pay rent on the remaining share. You can gradually increase your ownership over time through a process called 'staircasing'.

Not necessarily, though some lenders may require a guarantor if you have a small deposit or limited income. Guarantors are typically family members who agree to cover payments if you can't.

Most lenders have minimum age requirements (usually 18-21) and maximum age limits (typically 70-75 at application). Some lenders may offer longer terms for younger borrowers.