Get your first home. We find the mortgage.
We search 100+ lenders to find the best first-time buyer mortgage for your income and deposit. Your dedicated adviser handles every step, from application to keys.
What can you borrow?
What is a first-time buyer mortgage?
A first-time buyer mortgage is specifically designed for people who have never owned a residential property before. Because you're a new buyer, lenders and the government offer advantages not available to existing homeowners.
You can typically borrow 4–5.5x your income, depending on the lender and your affordability. Your deposit acts as security, and the bigger your deposit, the better the rates you'll access.
As a first-time buyer in England, you pay no stamp duty on properties up to £425,000. This can save you thousands compared to what a home mover would pay on the same purchase.
You may also qualify for government schemes such as the Mortgage Guarantee Scheme or Lifetime ISA, which can boost your deposit or reduce the LTV you need.
Important: Your home may be repossessed if you do not keep up repayments on your mortgage. Make sure the monthly payments are affordable for you before going ahead.
First-time buyer mortgages are regulated by the Financial Conduct Authority (FCA). Applications are handled by our regulated partner advisers, so you're protected by strict rules on fair treatment, clear information, and responsible lending.
Are you eligible?
What first-time buyers need
Schemes that help first-time buyers
The government offers several ways to make buying your first home easier. We check which ones you qualify for.
Mortgage Guarantee Scheme
Buy with just a 5% deposit. The government backs the lender for the higher LTV portion, giving you access to competitive 95% mortgage deals.
5% deposit acceptedLifetime ISA
Save up to £4,000 per year and receive a 25% government bonus, worth up to £1,000 extra every year. Use it towards your first home purchase.
25% bonus on savingsShared Ownership
Buy a share of your home (25%–75%) and pay rent on the rest. A smaller mortgage means a smaller deposit, making it a good option when full ownership isn't yet affordable.
Buy from 25% shareFirst Homes Scheme
Certain new-build homes are sold at a discount of at least 30% below market value, reserved exclusively for first-time buyers in England.
30%+ below market valueNo Stamp Duty
As a first-time buyer, you pay zero stamp duty on properties up to £425,000. On a £300,000 home, that's a saving of £5,000 compared to a home mover.
£0 duty up to £425kRight to Buy
If you're a council or housing association tenant, you may be entitled to purchase your home at a significant discount under the Right to Buy scheme.
Up to £102k discountOther ways we help first-time buyers:
Why first-time buyers choose Albot
Buying your first home is a big deal. Here's how we make sure you get the right mortgage and the support you need to complete.
100+ lenders compared
We search the whole market, including lenders not available directly, to find the best rate for your income, deposit, and property type.
Zero stamp duty up to £425k
As a first-time buyer, you pay no stamp duty on properties up to £425,000. We factor this saving into your full cost comparison automatically.
Government scheme checks
We check which schemes you qualify for (Mortgage Guarantee, Lifetime ISA, Shared Ownership, First Homes) so you don't miss a single benefit.
Dedicated adviser from start to finish
Your FCA-regulated adviser handles your application, liaises with the lender, and keeps you updated from offer to completion. You're never left guessing.
Soft search, no credit impact
Checking your options uses a soft search only. Your credit file is not marked, and no other lender can see you've checked. Your score is protected.
First-time buyer specialists
Our advisers deal with first-time buyers every day. They know which lenders are most flexible on deposit size, income type, and property condition, and they'll guide you through every step.
Three steps to your first mortgage
It's straightforward. Here's what happens when you use Albot.
Quick questions
Tell us your income, deposit, and the kind of property you're looking for. Takes 90 seconds.
⏱ 90 secondsSee your options
Albot checks 100+ lenders and shows you what you can borrow, your monthly payments, and which schemes you qualify for.
⚡ Instant resultsAdviser handles it all
Your dedicated FCA-regulated adviser submits your application, chases the lender, and guides you through to completion.
👤 FCA regulatedFaster, clearer, better rates
We combine speed with expert FTB advisers to get you the right mortgage at the best rate available.
Instant comparison
See deals from 100+ lenders in seconds. AI-powered matching finds your best first-time buyer options fast.
Expert FTB support
Dedicated first-time buyer advisers who know which lenders suit your situation and handle everything for you.
Total transparency
All costs shown upfront: monthly repayments, fees, and the total cost of the mortgage over its term. No surprises.
No credit footprint
Checking your options uses a soft search. It won't appear on your credit file or affect your score in any way.
Common questions from first-time buyers
Everything you need to know before you apply.
How much can I borrow as a first-time buyer?
Most lenders will lend up to 4.5x your annual income. Some lenders offer up to 5x or 5.5x your income in certain circumstances, for example if you have a high income, a large deposit, or are a professional in a qualifying field. Joint applications combine both incomes. Your deposit size also affects how much you can borrow. A larger deposit unlocks better rates and higher income multiples.
What is the minimum deposit for a first-time buyer?
The minimum deposit is 5% of the purchase price. So for a £200,000 home, you'd need at least £10,000. With a 5% deposit you'll have access to fewer lenders and your rate will be higher. A 10% deposit (90% LTV) opens up significantly more deals and lower rates. Most buyers aim for 10-15% if they can. You can boost your deposit using a Lifetime ISA, where the government adds a 25% bonus on your savings.
Do I pay stamp duty as a first-time buyer?
In England, first-time buyers pay no stamp duty on the first £425,000 of a property's value. On the portion between £425,001 and £625,000, you pay 5%. For properties above £625,000 the standard stamp duty rates apply and you lose the first-time buyer relief entirely. This relief can save you up to £8,750 compared to what a home mover would pay.
Can I get a mortgage if I'm self-employed?
Yes. Self-employed first-time buyers can get mortgages. Lenders typically want two years of accounts or tax returns (SA302s). Some lenders will accept one year if your income is strong. Your adviser will identify which lenders are most flexible for your income structure, whether you're a sole trader, limited company director, or contractor.
How long does it take to get a first-time buyer mortgage?
Getting a mortgage in principle (Agreement in Principle) takes a matter of hours once you've submitted your documents. A full mortgage offer typically takes 2-4 weeks after application, depending on the lender and any valuation requirements. Completion then depends on the conveyancing and chain, typically 8-12 weeks from offer accepted to getting your keys.
What if my credit history isn't perfect?
Having missed payments, defaults, or a CCJ does not automatically disqualify you. Specialist lenders consider these applications, and having a larger deposit improves your chances significantly. Your adviser will tell you which lenders are most suitable for your credit history and what rate to expect. Your home may be repossessed if you do not keep up repayments on your mortgage.
Find your first mortgage in 90 seconds
See what you can borrow and which schemes you qualify for. No commitment, no credit check, no upfront fees.
Get my free quoteRepresentative Example (First-Time Buyer Mortgage)
A repayment mortgage of £200,000 payable over 25 years initially on a fixed rate for 2 years at 4.79% and then on the lender's standard variable rate of 7.49% for the remaining 23 years would require 24 monthly payments of £1,145.99 and 276 monthly payments of £1,417.63. The total amount payable would be £419,549 made up of the loan amount plus interest of £218,249 and fees of £1,300. The overall cost for comparison is 7.1% APRC representative. This is based on our lender panel. Your actual rate will depend on your circumstances, deposit, and the lender selected. This is for illustrative purposes only and is not a guarantee of the rate you will receive.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Albot is an introducer and technology platform, not a lender and not a broker. Applications may be passed to our FCA-authorised and regulated partner advisers. Rates are subject to status, affordability assessment, and lender criteria. The representative example is for illustrative purposes only — your actual rate and monthly payments will depend on your personal circumstances.