Expert Mortgage Advice.

Helping you find the perfect mortgage solution tailored to your unique circumstances and financial goals.

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Your Property Purchase Journey

From finding your dream home to completing the purchase, we'll guide you through every step of the property buying process.

Find Your Mortgage Options

Find Your Mortgage Options

Find Your Mortgage Options

Find Your Mortgage Options

Find Your Mortgage Options

Find Your Mortgage Options

Find Your Mortgage Options

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How Much Can I Borrow?

Use our calculator to get an estimate of how much you could borrow for a mortgage based on your income and financial situation.

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How Much Can I Borrow?

Lenders determine your borrowing capacity using income multiples, typically offering around 4-4.5 times your annual income (or joint income for couples). Beyond this initial calculation, they'll conduct a detailed affordability assessment reviewing:

  • Credit history
  • Employment and income stability
  • Regular expenditure and existing debts
  • Deposit size

How Much Deposit Do I Need?

A deposit serves two crucial purposes: demonstrating your financial discipline and reducing the lender's risk. Larger deposits typically secure more favourable interest rates.

Minimum requirements:

  • 5% deposit:Available with some lenders, but expect higher interest rates
  • 10% deposit:Unlocks more competitive deals
  • 15-25% deposit:Significantly improves available rates and product options

For the most advantageous mortgage terms, aim to save at least 10-15% of the property value.

Your First Home Journey

Buying your first home can seem daunting, but we're here to guide you through each step of the process.

Save for a Deposit

Most lenders require at least 5-10% of the property value as a deposit. Government schemes like Help to Buy and Lifetime ISAs can help boost your savings.

Save for a Deposit

Most lenders require at least 5-10% of the property value as a deposit. Government schemes like Help to Buy and Lifetime ISAs can help boost your savings.

Get Mortgage Ready

Check your credit score, gather necessary documents, and understand your budget. We'll help you prepare for the mortgage application process.

Get Mortgage Ready

Check your credit score, gather necessary documents, and understand your budget. We'll help you prepare for the mortgage application process.

Find Your Dream Home

With a mortgage in principle, you can start viewing properties within your budget and make offers with confidence.

Find Your Dream Home

With a mortgage in principle, you can start viewing properties within your budget and make offers with confidence.

Complete the Purchase

Once your offer is accepted, we will research to find the best deals and submit your application to the lender.

Complete the Purchase

Once your offer is accepted, we'll guide you through the legal process, surveys, and final mortgage application to completion.

Move In

Congratulations! You've completed your purchase and can now move into your first home. We'll still be here for any future mortgage needs.

Move In

Congratulations! You've completed your purchase and can now move into your first home. We'll still be here for any future mortgage needs.

Your First Home Journey

Buying your first home can seem daunting, but we're here to guide you through each step of the process.

  • Save for a Deposit

    Most lenders require at least 5-10% of the property value as a deposit. Government schemes like Help to Buy and Lifetime ISAs can help boost your savings.

  • Get Mortgage Ready

    Check your credit score, gather necessary documents, and understand your budget. We'll help you prepare for the mortgage application process.

  • Find Your Dream Home

    With a mortgage in principle, you can start viewing properties within your budget and make offers with confidence.

  • Complete the Purchase

    Once your offer is accepted, we'll guide you through the legal process, surveys, and final mortgage application to completion.

  • Move In

    Congratulations! You've completed your purchase and can now move into your first home. We'll still be here for any future mortgage needs.

How Can Friends Capital Help with First Time Buyer Mortgages?

Friends Capital have existing relationships with first time buyer mortgage lenders. We can search the entire market and get access to the best and most exclusive deals available. Then we will choose the deal that is most appropriate to your personal circumstance. We can:

  • Find you a lender that specialises in first time buyer mortgages
  • Find you a deal appropriate to your personal circumstance
  • Offer unbiased financial advice
  • Give advice on what mortgage lenders will require, including giving you advice on an exit strategy for the mortgage end
  • Give you a no obligation mortgage quote
  • Deal with all the paper work, liaise with the lenders and solicitors. We will also make sure the application goes through as quickly as possible

Our experienced mortgage advisors understand the challenges first-time buyers face and are dedicated to making your journey onto the property ladder as smooth as possible. We'll be with you every step of the way.

Frequently asked questions

Get answers to common questions about buying your first home and securing a mortgage.
How much deposit do I need as a first-time buyer?
Most lenders require a minimum deposit of 5-10% of the property value. However, a larger deposit (e.g., 15-20%) will typically give you access to better interest rates. Government schemes like the Lifetime ISA can help you save for your deposit.
What costs should I budget for beyond the deposit?
You should budget for solicitor fees (£1,000-£1,500), survey costs (£400-£1,500 depending on type), mortgage arrangement fees (£0-£2,000), stamp duty (though first-time buyers have relief up to £300,000), removal costs, and initial furnishings.
How long does the mortgage application process take?
The entire process from application to completion typically takes 2-3 months. Getting a mortgage in principle can be done in 24-48 hours, while the full application and underwriting process usually takes 2-4 weeks. The remaining time is for legal work and property surveys.
Can I get a mortgage with bad credit?
Yes, it's possible to get a mortgage with bad credit, though your options may be more limited and interest rates higher. We specialize in helping clients with less-than-perfect credit histories find suitable mortgage solutions. The key is being upfront about your circumstances so we can approach the right lenders.
What government schemes are available to help first-time buyers?
Several schemes are available, including the Lifetime ISA (25% government bonus on savings up to £4,000 per year), Help to Buy Equity Loans (government loans of up to 20%, or 40% in London), Shared Ownership (buy a share of a property and pay rent on the rest), and First Homes (discounted new-build properties for local first-time buyers).
Do I need a mortgage advisor as a first-time buyer?
While not mandatory, a mortgage advisor is highly recommended for first-time buyers. We can access the whole market to find deals not available directly to consumers, explain complex terms, handle paperwork, and guide you through the entire process, often saving you money in the long run despite our fee.

Get in Touch

Have a question about mortgages or want to book a consultation? Fill out the form and one of our expert advisors will get back to you shortly.

Call Us

0800 862 0811

Visit Us

Beehive Works, Milton St

Broomhall, Sheffield S3 7WL

Opening Hours

Monday - Thursday: 9:00am - 5:30pm

Friday: 9:00am - 3:00pm

By submitting this form, you agree to our privacy policy. We'll never share your information with third parties.
Thank you! Your submission has been received!
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The Property Purchase Process

Buying a property involves several key steps. Here's what you can expect during the purchase process.

1Determine Your Budget

Understand how much you can afford to borrow and what your monthly payments might be. Consider additional costs like stamp duty, legal fees, and moving expenses.

2Get a Mortgage in Principle

This gives you an indication of what you might be able to borrow, making you a more attractive buyer when you make an offer.

3Find Your Property

Search for properties within your budget, considering location, property type, and your specific requirements.

4Make an Offer

When you've found a property you like, make an offer through the estate agent, who will negotiate on your behalf.

5Legal Process & Surveys

Once your offer is accepted, you'll need a solicitor to handle the legal work and a surveyor to check the property's condition.

6Exchange & Completion

Exchange of contracts makes the deal legally binding. Completion is when you get the keys and the property becomes yours.

What Schemes Are Available For A First Time Buyer?

There are several government-backed schemes designed to help first-time buyers get onto the property ladder.

Lifetime ISA

If you're aged between 18 and 40, the government could add a 25% boost to your savings (up to a maximum boost of £1,000 per year) until you're 50.

However there are very small number of building societies and banks that offer this.

Right to Buy

This scheme gives tenants who rent from a council or local housing association the chance to buy the home they live in.

Significant discounts may be available based on how long you've been a tenant.

Starter Home Scheme

Available to people under 40 years old, this scheme aims to offer first-time buyers one of around 200,000 new homes priced 20% less than their market value.

These homes are built on brownfield sites specifically for first-time buyers.

Shared Ownership

Allows you to co-own a property with a landlord (typically a council or housing association).

You can buy between 25% and 75% of the property and pay rent on the remainder.

How Much Can I Borrow?

Lenders determine your borrowing capacity using income multiples, typically offering around 4-4.5 times your annual income (or joint income for couples). Beyond this initial calculation, they'll conduct a detailed affordability assessment reviewing:

  • Credit history
  • Employment and income stability
  • Regular expenditure and existing debts
  • Deposit size

How Much Deposit Do I Need?

A deposit serves two crucial purposes: demonstrating your financial discipline and reducing the lender's risk. Larger deposits typically secure more favourable interest rates.

Minimum requirements:

  • 5% deposit:Available with some lenders, but expect higher interest rates
  • 10% deposit:Unlocks more competitive deals
  • 15-25% deposit:Significantly improves available rates and product options

For the most advantageous mortgage terms, aim to save at least 10-15% of the property value.

How Long Does It Take to Remortgage?

The timeline for remortgaging varies significantly depending on your situation. Staying with your current lender (a "product transfer") can be remarkably quick and straightforward, often completed within 1-2 weeks. However, switching to a new lender typically takes 6-10 weeks due to additional paperwork, property valuations and legal requirements.

Friends Capital Tip: "To avoid potential payment increases, begin your remortgage search 4-6 months before your current deal expires. This provides ample time to explore options and complete the process without rushing."