As a first time buyer this whole process of buying a house could be scary, complex, stressful, strange and all sorts of other thoughts and emotions and it's different for everyone.  

First Time Buyers

Helping you every step of the way

1.Advice & affordability (First Appointment)

You've decided you want to buy your first home. This first appointment will tell you everything you need to know and give you confidence in the whole process.

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2.The fun bit... house shopping!

You've now had specialist advice so you know what you can afford, what next?

3.mortgage advice (second appointment)

Now for our second appointment to talk through the mortgage products

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4. Mortgage lenders

Your application will then be underwritten and a surveyor is instructed to value the property.

5. Mortgage Application is Processed

The solicitor continues the conveyancing process and you’re well on your way to owning your first home.

Government schemes for first-time home buyers

There are several government schemes available that can help you buy a home. These include Help to Buy, Right to Buy and Shared Ownership. 

Help to Buy equity loan

You can get a low-interest loan towards your deposit. This is called an equity loan.

Eligibility

The home you buy must:

  • be a new build from a developer who is part of the HTB scheme.

  • the maximum purchase price of the house depends on where you are buying your house.

    • North East £186,100

    • North West £224,400

    • Yorkshire and the Humber £228,100

    • East Midlands £261,900

    • West Midlands £255,600

    • East of England £407,400

    • London £600,000

    • South East £437,600

    • South West £349,000

  • be the only one you own

  • not be sub-let or rented out after you buy it

  • be one that you can show you cannot afford (if you’re applying in Wales).

For full details about the Help to Buy equity loan click here.

Buying through shared ownership​

You can get a shared ownership home through a housing association. You buy a share of your home (between 25% and 75%) and pay rent on the rest.

There are different rules in Northern Ireland and ScotlandContact your local authority to find out about buying a shared ownership home in Wales.

Eligibility

You can buy a home through shared ownership if your household earns £80,000 a year or less (or £90,000 a year or less in London) and any of the following apply:

  • you’re a first-time buyer

  • you used to own a home, but cannot afford to buy one now

  • you’re an existing shared owner

For full details about buying through Shared Ownership click here.

Saving with a Lifetime ISA​

Lifetime ISAs (also known as LISAs) are a new type of ISA created to help people save for their first home or retirement. If you take out a Lifetime ISA, the Government will give you a bonus worth 25% of what you pay in, up to £4000 per tax year, the bonus is then paid into your account at the end of each month.

Eligibility

You can open a Lifetime ISA with any bank, building society or investment manager that offers the product.

To open a Lifetime ISA you need to be:

  • between the age of 18 and 40

  • a UK resident or a Crown servant (for example, a member of the armed forces serving abroad).

You can continue paying into a Lifetime ISA until you are 50.

For full details about using a Lifetime ISA click here.