Mortgages for First Time Buyers
Buying your first home? Let's figure out if you're ready
Let’s be honest: buying a house is confusing. Deposit requirements, credit scores, mortgage types – it’s a lot. We’ll break it down in plain English, show you what you can actually afford, and tell you if you’re ready (or what needs to happen first).
Most first calls with a Haupt & Co Mortgage Broker only take 15–20 minutes
No obligation, just clear advice
Here's how it works
Buying your first home is equal parts exciting and terrifying. We get it.
Here’s what we’ll do:
- Free consultation (15-20 min) - We'll figure out what you can borrow, how much deposit you need, and if you're ready to start looking.
- Mortgage search - We search 130+ lenders to find rates you actually qualify for. We'll show you monthly payments and explain what you're signing up for.
- Application handling - We submit everything, chase the lender, and keep you updated. You'll know exactly where things stand.
- Completion - Once approved, we'll walk you through the final steps until keys are in your hand.
No jargon. No surprises. Just clear advice.
What lenders actually care about:
- Income: Can you afford the monthly payments? (They usually lend 4-4.5x your salary)
- Credit score: Have you paid bills on time? Missed payments hurt.
- Deposit: Where's the money coming from? (Gift from parents is fine, but needs documentation)
- Job stability: Been in your role 3+ months? Probation can be tricky but not impossible. We know which lenders are flexible on each of these. If one says no, we know who to try next.
Haupt & Co is a whole-of-market, FCA regulated Mortgage Broker, specialising in simple & complex lending.
Free first call (15-20 min) - we'll cover:
- What you can actually borrow
- Deposit needed (and if Help to Buy ISA/LISA helps)
- If your credit score is good enough
- What happens if you're self-employed or on probation
- Honest answer: are you ready, or should you wait?
No pressure. No obligation. Just real talk.
90% of our clients are referred to us by existing customers
REAL STORIES
How We've Helped First-Time Buyers Like You
Real situations, real outcomes, real people we have helped in the past 12 months.
"I thought I needed a 20% deposit. Turns out I only needed 5%. Ed found me a lender who accepted my NHS income structure and I moved in 10 weeks later."
Sarah
26, Nurse, Bristol
"We’d been renting in London for years and assumed £500,000 was out of reach, especially with childcare costs and my bonus structure. Ed mapped everything out properly and found a lender who took our full income into account. We completed in just under 12 weeks."
Daniel & Priya
34 & 33, Consultant & Marketing Manager, London
"We had a small CCJ from a disputed utility bill. Thought we were screwed. Haupt & Co got us approved with a high-street lender at a great rate."
Mia & Tom
31, Teachers, Bristol
Most first-time buyers speak to us 3–6 months before buying
First Time Buyer FAQs
No two situations are the same. These are some of the questions we’re asked most often.
MONEY
How much could I borrow as a first-time buyer?
Most lenders currently start at around 4 to 4.5 times your income. In some cases, borrowing up to 5 times income is possible, but this usually depends on strong credit, low outgoings, and a solid deposit. Income isn’t the only factor lenders consider – they also look at your spending, existing debts, and overall affordability. Just because a lender may offer a higher amount doesn’t mean it’s the right choice, and we’ll help you work out what’s realistic, comfortable, and sustainable for you.
How much deposit do I need to buy my first home?
Many first-time buyers assume they need a huge deposit, but that isn’t always the case. Here in the UK, deposits typically start from around 5% of the property price, with 10% or more often giving access to better rates. The right deposit for you depends on your budget, the property, and what lenders are offering at the time. We’ll help you understand what’s possible and work out what makes the most sense for your situation – not just what looks good on paper.
Can my parents help me with a deposit?
Yes, this is very common. Parents can help by gifting some or all of the deposit. Most lenders are happy with this, as long as the money is a genuine gift and not a loan that needs to be repaid. Your parents will typically need to sign a short declaration confirming this, and we’ll guide everyone through what’s required.
Can I buy a home if I have student loans?
Yes – having a student loan doesn’t automatically stop you from getting a mortgage. Lenders will look at your overall affordability, including your income and any regular financial commitments. Student loan repayments are taken into account alongside other outgoings, so we’ll make sure this is factored in when assessing how much you can borrow and which lenders are most suitable for your situation.
What other costs should I budget for besides the deposit?
In addition to your deposit, there are other costs to consider such as legal fees, surveys, mortgage fees, and moving costs. Planning for these early helps avoid surprises later on. We’ll help you build a clear picture of the full cost of buying, so you can move forward feeling financially prepared.
What if my credit history isn’t perfect?
You’re not alone – many first-time buyers have something on their credit file. Minor issues don’t necessarily mean you can’t get a mortgage, but they do affect which lenders are suitable. We’ll review your credit profile with you and help identify lenders who are more flexible, explaining your options clearly before you apply.
Why do lenders focus so much on income and credit when I’ve been paying rent for years?
This is a very common frustration. While rent payments show you can manage regular housing costs, lenders are required to assess affordability using income, credit history, and wider financial commitments. The good news is that different lenders take different views, and understanding how to present your situation properly can make a real difference – that’s where our expert advice helps.
PROCESS
Why is it helpful to speak to a mortgage adviser before I start viewing homes?
Many first-time buyers start looking at properties before fully understanding what they can borrow, which can lead to disappointment or wasted time. Speaking to a mortgage adviser early helps you understand your realistic budget, monthly costs, and options before you fall in love with a property. It also means you’ll be better prepared and taken more seriously when you’re ready to make an offer.
Do I need a mortgage agreement before I start viewing properties?
In most cases, yes. A mortgage agreement in principle often referred to as a DIP (Decision in Principle), AIP (Agreement in Principle), or MIP (Mortgage in Principle) gives you an early indication of how much you could borrow and shows estate agents that you’re a serious buyer. It doesn’t lock you into anything and can usually be updated as your plans change. We can arrange this quickly and explain exactly what it means (and what it doesn’t), so you can start viewing with confidence.
What documents will I need to provide to you?
There can be a few documents involved, but don’t worry, we’ll clearly explain what’s needed, why it’s required, and guide you through it step by step. The exact documents can vary depending on your circumstances, but typically we’ll ask for:
Photo ID (passport or driving licence)
Proof of address (recent utility bill or bank statement)
Last 3 months’ payslips (or accounts / SA302s if you’re self-employed)
Recent bank statements (usually the last 3 months for all accounts you have both personal and joint)
Details of any existing credit commitments (loans, credit cards, car finance etc.)
Proof of deposit (savings statements or gifted deposit confirmation)
- Credit Report
Property details (once you’ve found one)
If anything else is needed, we’ll explain exactly what’s required and why and help you get it together without stress.
How long does the buying process usually take for first-time buyers?
The timescale can vary, but for most first-time buyers the process typically takes around 8–12 weeks from having an offer accepted to completing on the property.
This includes time for the mortgage application, valuation, legal work, and any searches required by your solicitor. Some purchases move more quickly, while others can take longer depending on factors such as the property, the lender, and how smoothly the legal process progresses.
Our role is to help keep things moving, manage the mortgage side of the process, and keep you informed throughout so there are no unnecessary delays or surprises.
Do I need to use the estate agent’s mortgage adviser?
No – you’re free to choose your own mortgage adviser. While estate agents may recommend someone, it’s important to work with an adviser who searches the whole market and puts your interests first. We’ll provide independent, whole-of-market advice and support you throughout the process.
Are You Ready?
If buying now isn’t right for you, we’ll tell you and help you plan instead.
QUICK CHECK
Looks like you're ready
- Saved 5%+ deposit
- In your job 3+ months (or 1+ year self-employed)
- Credit score 600+
- Monthly payments sit around 30% of take-home pay
You'll leave knowing what to do next - no pressure
Might need a little more time
- Missed payments in the last 6 months
- Just started a new job
- Deposit saved is under 5%
- Monthly payments are higher than 30% of take-home pay
You'll leave knowing what to do next - no pressure
Not sure where you stand?
That’s exactly what the first call is for. Within 10 minutes, we’ll tell you honestly if you’re ready or what needs to happen first.