100% Recommend


We've been trusted by thousands of customers for mortgages since 2013.

100% Recommend

The Independent review organisation Reviews.co.uk report that 100% of reviewers recommend Lending Expert

Lending Experts

We’re mortgage experts. This means we know our stuff when it comes to all types of mortgages. We know where the best rates are and have access to exclusive deals just for Lending Expert customers.

Huge Market Comparison

We’re not tied to one lender which means we can search the wider market to find you the cheapest mortgages from across the UK.

Authorised & Regulated

Lending Expert is an FCA regulated credit broker which means you can be assured you are dealing with a legitimate and reputable finance company.

Flexible Lending

If you have bad credit or have previously been refused a mortgage we can consider your application. Whatever your circumstances please get in touch and we'll do our best to help find you the perfect mortgage deal.

What first time buyer mortgage options are available

Mortgages for first time buyers

Mortgage options for first time buyers

There are a number of reasons why first time buyers struggle to get a mortgage. The main one is that as a first time buyer you will probably have a smaller size of deposit to put towards buying your new property than those already on the housing ladder because of the high costs of renting. First time buyers will also generally be on lower incomes than those already on the ladder and so can find it difficult to meet the lending criteria that is stipulated by many lenders.

Why size matters

In this case it is the size of your deposit that is the thing that matters. If you are able to put together a deposit of anywhere between 30% and 40% of the value of the property that you wish to buy you will find that you will probably find it reasonably easy to get a mortgage as your loan to value ratio will be low and therefore you will present a lower risk to a lender. In addition to this you will also find that you will have access to mortgage deals offering lower interest rates.

If you only have a 5% deposit

There are 95% mortgages available for first time buyers, but in order to be able to qualify for these loans you will have to ensure that you have a good credit score and also demonstrate that you have sufficient income to be able to afford the repayments. One thing you will also need to be aware of is that your ability to make your repayments will be stress tested by looking at the affordability should the interest rates rise significantly. If a lender does not feel that you will be able to make these payments at the higher interest rate you will not be granted the mortgage.

Help to Buy schemes

If you are struggling to get a mortgage on your own you may find that you qualify for a help to buy scheme. These schemes are for people who only have a small deposit, and in some cases they are specifically for people buying new houses. These schemes can provide you with either a guarantee from the government for part of your mortgage, or an equity loan to act as part of your deposit, both of which provide you with additional backing, and therefore presenting a lower risk to a lender making it easier for you to get a mortgage.

Our experts can check the market to find you the right mortgage. We've helped thousands of first time buyers take out their first mortgage. Simply check your eligibility and apply online today.