FIRST TIME BUYERS

Your first step onto the property ladder

First-Time Buyer? Here’s What You Need to Know

Buying Your First Home Made Simple

Buying your first property is exciting, but common misconceptions about deposits, credit scores, and income can make it feel daunting. Watch this short video where Jenny breaks down the truth about first-time buyer mortgages—so you can take your first step onto the property ladder with confidence.

Buying your first home is one of the most exciting experiences, but it can also be a bit daunting. Whether you’ve been saving for a while or you’ve just started your home-buying journey, We’re here to make things simple and easy to understand. We’ll guide you through the entire process, from understanding your budget to getting those keys in your hand.

Let’s make your first home purchase as smooth as possible, so you can feel confident every step of the way.

What is a First Time-Buyer?

You are considered a first-time buyer if you have never owned a property before or for a period of time usually 3 years. Whether you’re buying on your own or with someone else it’s a thrilling step into the property market. We’ll help you find a mortgage that suits your unique situation, making the process as straightforward and stress-free as possible.

Types of First-Time Buyer Mortgages

There are several mortgage options for first-time buyers, and I’ll help you navigate through them

Shared Ownership Mortgages

If you’re a key worker or earn below a certain threshold, shared ownership schemes could be the perfect solution. These allow you to buy part of a property while renting the rest, with a minimal deposit.

Mortgages

Secure your move using personal savings, a gifted deposit, or a concessionary purchase. Whether buying solo or with family support, we’ll help you navigate the market to find a mortgage that fits your unique journey.

How Do I Calculate My First-Time Buyer Mortgage?

To calculate how much you can borrow, you’ll need to consider three main factors:

Your Deposit

Lenders typically ask for a deposit, though first-time buyers may qualify for as little as 0%. The more you can save, while a gifted deposit can really boost your deposit securing the better mortgage rates.

Loan-to-value Ratio (LTV)

This is the amount you’re borrowing compared to the value of the property. A higher deposit means a lower LTV, which often translates into better interest rates.

Credit File

This is the starting point of any mortgage application. Lenders consider your credit file as part of the process & this will dictate the interest rates available to you & the minimum deposit you will need to put down on your home.

Most lenders will lend around 4.5 times your annual income, but the exact amount depends on your financial situation.

Fixed vs. Variable Rates

Fixed Rate Mortgages

These offer security with a set monthly payment. Your payments stay the same for a fixed period, typically between 2 and 10 years.

Variable Rate Mortgages

These can change depending on market conditions. It’s important to be comfortable with potential fluctuations.

Additional Support

We’ll be there to help you understand every part of your mortgage process, from finding the right deal to answering any questions along the way. The aim is to make your first home purchase an exciting, smooth and memorable experience.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Subject to affordability and lender criteria.

Don’t Just Take Our Word For It

We believe that securing your home and your future shouldn’t be stressful. But you don’t have to take our word for it—here is what our clients have to say about their experience with Eagle Mortgages and Protection.

    
 
 
       Posted on Google  
   
   Gintare Bosikyte 
 
 
 
 Trustindex verifies that the original source of the review is Google. Jenny is very responsive and always here to help. She helped us tremendously as a first time buyers and made remortgaging less stressful. Forever grateful :)
  
 
      Posted on Google  
   
   DJ H 
 
 
 
 Trustindex verifies that the original source of the review is Google. I cannot thank Jenny and James enough for taking the time to go through all my options with me. Even though my application was complex, they guided me through the whole process with ease. They're straightforward, clear, and genuinely take pride in delivering a top-quality service. Highly recommended.
  
 
      Posted on Google  
   
   Kathy 
 
 
 
 Trustindex verifies that the original source of the review is Google. I honestly cannot recommend Jenny & her team highly enough . At 66 I never imagined I would be buying my first home . The whole mortgage process felt quite daunting & overwhelming at first . From the beginning Jenny , James & team have been incredibly patient, approachable & supportive . They have never once made me feel silly for not understanding something & have always taken the time to explain everything clearly & in a way that made sense to me . Most importantly Jenny & team have worked completely at my pace & have guided me through every single step , making what could have been a very stressful experience manageable & reassuring . Thankyou so much .
  
 
      Posted on Google  
   
   Luke Davis 
 
 
 
 Trustindex verifies that the original source of the review is Google. Josh Preece is Fantastic makes setting up for your first home easy. Always on the chase and gets back to you straight away. Fantastic.
  
 
      Posted on Google  
   
   Alison Hall 
 
 
 
 Trustindex verifies that the original source of the review is Google. Jenny was fantastic from start to finish. I had lost hope and spoke to Jenny to see if there was anything I could do. Jenny put me at ease instantly due to her knowledge and reassuring responses. I now have a solo mortgage and 5 months of stress has come to an end .
  
 
      Posted on Google  
   
   MICHAEL MORRISROE 
 
 
 
 Trustindex verifies that the original source of the review is Google. Brilliant customer service from start to finish!!
  
 
      Posted on Google  
   
   Max Pelling 
 
 
 
 Trustindex verifies that the original source of the review is Google. When remortgaging our new lender used an app to gather all the info required which i found really glitchy and really awkward. However, eagle mortgages... stepped in when we hit brick walls and ironed anything out. Everything was simple from their end, and sorted the issues from the other end. Wouldnt hesistate using next time round
  
 
      Posted on Google  
   
   Carol Wilson 
 
 
 
 Trustindex verifies that the original source of the review is Google. Very efficient service and kept in the loop at all stages. Would thoroughly recommend.
  
 
      Posted on Google  
   
   Jack Tibbitts 
 
 
 
 Trustindex verifies that the original source of the review is Google. Jenny & James were amazing help throughout the process. Great communication and always happy to answer my constant questions. Would highly recommend!
  
 
      Posted on Google  
   
   kayleigh nicholson 
 
 
 
 Trustindex verifies that the original source of the review is Google. I can’t recommend Eagle Mortgages highly enough. From our very first conversation, they were professional, knowledgeable, and incredibly supportive. They are truly going above and beyond throughout the whole process, always taking the time to explain everything clearly, answer any questions promptly, and keep us updated every step of the way. What could have been a stressful experience was made so much easier thanks to their expertise, dedication, and genuine care. Nothing ever feels like too much trouble, and it’s clear they are committed to finding the best outcome for us. We are so grateful for all of their hard work and outstanding service. Thank you Jenny & James. We wouldn’t hesitate to recommend you to anyone looking for a mortgage advisor who genuinely puts their clients first.