First-Time Buyer Mortgages in the UK

Buying your first home is a major financial step. This guide explains what UK lenders may look at and which calculator checks can help you prepare.

Your home may be repossessed if you do not keep up repayments on your mortgage.

This page is for UK first-time buyers who want to prepare cautious mortgage and cost estimates before applying.

Quick summary

Many lenders ask for at least a 5% deposit, though larger deposits can widen product choice.
Affordability depends on income, commitments, credit history, deposit source and property details.
Calculator results are estimates only and cannot confirm lender acceptance.
A clear document pack can reduce delays once you are ready to apply.

What lenders may look at

Income and regular commitments
Deposit size and source
Credit history
Employment stability
Property type and valuation

Documents you may need

Photo ID and proof of address
Recent bank statements
Payslips or self-employed income evidence
Proof of deposit
Gifted deposit letter if applicable

Practical next steps

Estimate borrowing, repayments and stamp duty using cautious assumptions.
Check that deposit funds and any gifted deposit can be evidenced.
Review credit files and regular commitments before a formal lender application.
Allow for non-mortgage costs before making an offer.

Common issues

Relying on an optimistic borrowing estimate without allowing for lender criteria.
Deposit funds that cannot be clearly evidenced.
Recent missed payments or multiple credit applications before applying.
Underestimating legal, survey, moving and insurance costs.

Borrowing Calculator

Estimate how much you may be able to borrow before checking repayments.

Annual income (£) Second applicant income (£) Monthly credit and regular commitments (£) Deposit (£) Dependants Employment status

Lower estimate

£—

Upper estimate

£—

Indicative property budget

£—

This is an estimate only. Lenders use their own affordability models, income treatment, credit checks, property checks and stress tests.

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Related calculators

Calculator outputs are estimates only. They do not confirm lender acceptance, product availability, rates, fees or suitability.

Frequently asked questions

Can a first-time buyer calculator confirm I will be accepted? +

No. A calculator can only provide an estimate. Lenders make decisions using their own affordability, credit and property checks.

How much deposit do I need as a first-time buyer? +

Some lenders may consider a 5% deposit, but availability depends on criteria, property type and market conditions. A larger deposit can increase lender choice.

Can I use a gifted deposit? +

Many lenders accept gifted deposits, usually with a signed letter and evidence of the funds. Requirements vary by lender.

What costs should I estimate besides the deposit? +

Consider legal fees, survey costs, valuation fees, moving costs, insurance and stamp duty where it applies.

Compare related UK mortgage situations

First-time buyer mortgages Self-employed mortgages Buy-to-let mortgages

Check your affordability Estimate affordability before comparing property budgets. Estimate your deposit Check deposit and mortgage amount assumptions by LTV. Estimate stamp duty Check SDLT assumptions for England and Northern Ireland.

Calculator-led mortgage planning

UK Mortgage Calculators is centred on practical estimation tools. The pages help you model cautious scenarios before you decide whether to request a broker or adviser callback.