First-Time Buyer Mortgages in Kent
Your first mortgage is the one with the most questions. I'll answer all of them, then handle the rest.
Buying your first home is exciting and slightly terrifying in roughly equal measure. Deposits, agreements in principle, lender criteria, surveys, exchange. It's a lot of new vocabulary for one of the biggest decisions you'll ever make.
I work with first-time buyers across the UK, from my base in Iwade, Kent, explaining every step in plain English and searching a wide range of lenders to find a mortgage that genuinely fits, not just the first one that says yes.
What working together looks like
A realistic budget, before you fall in love with a house
I look at your income, outgoings and deposit and tell you what you can sensibly borrow. Then I get you an agreement in principle so sellers and agents take your offers seriously.
The whole market, not one bank's shelf
Your bank can only offer its own products. As an independent adviser, I search a wide range of lenders (including ones you may never have heard of) for the deal that suits your circumstances.
Someone who does the chasing
From application to keys, I manage the paperwork and chase lenders, solicitors and agents so things keep moving. You'll always know exactly where your purchase is up to.
First-time buyer jargon, translated
- Agreement in principle (AIP)
- A lender's initial 'yes, we'd probably lend you this much'. It's useful for showing agents you're serious. Not a guarantee, but a strong start.
- Loan-to-value (LTV)
- The size of your mortgage compared to the property's value. A £190,000 mortgage on a £200,000 home is 95% LTV. Lower LTV usually means better rates.
- Fixed rate
- Your interest rate (and monthly payment) stays the same for a set period, typically two, three or five years, whatever happens to rates elsewhere.
- Exchange & completion
- Exchange is the point the sale becomes legally binding. Completion is the day the money moves and you get the keys.
What you'll need to get started
Don't worry if you haven't got all of this to hand. I'll walk you through it at our first chat.
- Proof of ID and address
- Your last three months' payslips (or accounts if self-employed)
- Three months' bank statements
- Evidence of your deposit (savings, gift letter if family are helping)
- A rough idea of your monthly outgoings
Asked all the time, answered honestly
How much deposit do I need to buy my first home?
Many lenders offer mortgages from a 5% deposit, and a bigger deposit generally unlocks better rates. I'll look at your savings and show you what's achievable at each level, including schemes designed to help first-time buyers.
How much could I borrow?
As a rough rule of thumb lenders offer around 4 to 4.5 times your annual income, but every lender assesses affordability differently. Your outgoings, credit history and deposit all matter. I can give you a realistic figure quickly, based on your actual circumstances rather than an online calculator's guess.
Will checking my options affect my credit score?
An initial conversation and research won't touch your credit file. Some lenders run a soft check for an agreement in principle, which doesn't affect your score. I'll always tell you before anything involves a hard credit check.
I've been declined by my bank. Is that the end of it?
Usually not. Banks decline for all sorts of reasons that other lenders view differently, whether that's a thin credit file, recent self-employment or a quirk in their criteria. This is exactly where independent advice earns its keep.
How long does buying a first home take?
A mortgage offer typically takes two to four weeks from a complete application, and the whole purchase commonly runs three to six months depending on the chain and solicitors. I keep every part of it moving and keep you posted throughout.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Let's talk about first-time buyers
A free, no-obligation chat is the easiest first step. Tell me what you're hoping to do, and I'll tell you honestly how I can help.