Everything first time buyers need to know about getting a mortgage in the UK, from minimum deposit requirements and the stamp duty changes in April 2025, to government schemes, affordability and what happens if your situation is more complex.
No fee for the initial consultation. A broker fee of £299 becomes payable on receipt of a formal mortgage offer if you choose to proceed.
A first time buyer mortgage is a residential mortgage for someone who has never previously owned a freehold or leasehold interest in a property anywhere in the world. First time buyers in England and Northern Ireland benefit from stamp duty relief and can access specialist government schemes. Woodhall Mortgages is an FCA-authorised whole-of-market broker. We consider mortgages from across the market for first time buyers of all employment types and circumstances. Call 01422 354011 or use the form below.
Woodhall Mortgages is an FCA-authorised whole-of-market mortgage broker for first time buyers, based in Halifax, West Yorkshire. Our CeMAP qualified advisers provide first time buyer mortgage advice locally across West Yorkshire and nationwide by phone and video call. You can verify our authorisation on the Financial Services Register using firm reference number 762513. We cover standard applications and more complex situations including bad credit, self-employment, low deposits and unusual property types.
These rates apply in England and Northern Ireland. Scotland uses Land and Buildings Transaction Tax (LBTT) and Wales uses Land Transaction Tax (LTT) with different rates. All buyers on the purchase must be first time buyers for the relief to apply. The current bands are published in the official stamp duty guidance on GOV.UK. Rates shown are correct as of July 2026.
| Purchase price band | Standard rate | First time buyer rate | First time buyer saving |
|---|---|---|---|
| Up to £300,000 | 0% up to £125k, then 2% | 0% | Up to £2,500 |
| £300,001 to £500,000 | 5% | 5% on the excess over £300k | Up to £5,000 |
| Maximum FTB saving | £5,000 on a £500,000 property | ||
| Above £500,000 | Standard rates apply to the full purchase price | No first time buyer relief | £0 |
Figures correct as at 1 April 2025. Tax rules are subject to change. This is general information only and does not constitute tax advice. Verify current rates on the HMRC website before completion.
A first time buyer is someone who has never owned a freehold or leasehold interest in a residential property anywhere in the world, including inherited property. For stamp duty relief, every buyer on the purchase must be a first time buyer. If one buyer previously owned a property, first time buyer relief does not apply to the transaction.
Lenders typically use income multiples as a starting point, but affordability assessments are more detailed and consider existing commitments, expenditure and the lender's own stress testing. MoneyHelper's affordability calculator gives an independent second estimate.
| Gross annual income | Indicative range (4 to 4.5x) | 5% deposit, indicative property value | 10% deposit, indicative property value |
|---|---|---|---|
| £25,000 | £100,000 to £112,500 | Up to approx. £118,000 | Up to approx. £125,000 |
| £35,000 | £140,000 to £157,500 | Up to approx. £165,000 | Up to approx. £175,000 |
| £45,000 | £180,000 to £202,500 | Up to approx. £213,000 | Up to approx. £225,000 |
| £55,000 | £220,000 to £247,500 | Up to approx. £260,000 | Up to approx. £275,000 |
| £70,000 (joint) | £280,000 to £315,000 | Up to approx. £330,000 | Up to approx. £350,000 |
Figures are illustrative only and not a quotation or offer of lending. All lending is subject to status and a full affordability assessment. Some lenders may consider up to 5 or 5.5x income in certain circumstances.
First time buyer mortgage applications vary significantly depending on your deposit, income, employment type and credit history.
A short call can often clarify which route is most appropriate for your circumstances, though a full assessment will depend on your individual situation and lender criteria at the time.
Every first time buyer situation is different. These guides cover the most common scenarios in depth.
What is available at 95% loan to value, which lenders consider it, and how rates compare with a larger deposit.
Read guide → SchemesShared ownership, First Homes and other government-backed routes, and which lenders support each one.
Read guide → Property typeMortgage offer validity, developer incentives and timing an application around a build completion date.
Read guide → CreditHow specialist lenders assess CCJs, defaults and missed payments for first time purchasers.
Read guide → EligibilityWhat counts as previous ownership, and what you keep or lose if you have owned before.
Read guide → AffordabilityIncome multiples, stress testing, existing commitments and how lenders calculate what you can borrow.
Read guide → CreditHow your credit history affects your application and what lenders look for when assessing first time buyers.
Read guide → Adverse creditGetting a first time buyer mortgage with a County Court Judgement, lender options and what affects your application.
Read guide → Adverse creditFirst time buyer mortgages with a registered default, how defaults are assessed and which lenders may consider you.
Read guide → Adverse creditWhat a low credit score means for your mortgage application and what you can do to improve your options.
Read guide → Deposit & structureHow guarantor mortgages work, who can act as guarantor and what lenders require from the guarantor.
Read guide → Deposit & structureJBSP mortgages, how to use a parent or family member's income to support a mortgage without adding them to the title.
Read guide → Deposit & structureHow living at home affects your mortgage application and what deposit and income options are available.
Read guide → Deposit options100% mortgages and low deposit alternatives for first time buyers, what is available and when it may apply.
Read guide → Deposit optionsHow a developer or builder deposit contribution affects your LTV and the mortgage you can get.
Read guide → CommitmentsHow student loan repayments affect mortgage affordability and what lenders consider when assessing student debt.
Read guide → CommitmentsThe impact of car finance on mortgage affordability and how lenders factor in monthly commitments.
Read guide → CommitmentsHow outstanding credit card balances and minimum payments affect your first time buyer affordability calculation.
Read guide → EmploymentSelf-employed, contractor, zero hours, part-time and other employment types for first time buyers.
Read guide →Your employment type affects which lenders are appropriate and what documentation is required. We consider mortgages from across the market for all employment situations.
Standard employed applicants are assessed on payslips and P60. Probation periods may affect some lenders' criteria. Most straightforward employment type for first time buyers.
Self-employed first time buyers are assessed on SA302s and company accounts. Most lenders require 2 years of trading history. Same lenders and products as employed applicants where criteria are met.
Zero hours contract first time buyers can be considered where payslips show a consistent earnings pattern over 12 to 24 months. Variable income is averaged to establish an assessable figure.
For more detail see the First Time Buyer Employment guide or the full Employment and Income hub.
Call 01422 354011 or use the form below for a free initial conversation about your first time buyer mortgage.
Get First Time Buyer Mortgage AdviceThe process from initial conversation to mortgage offer typically follows three stages.
We discuss your income, deposit, employment type and what you're looking to buy. No cost for this initial conversation.
We explain the mortgage options relevant to your circumstances and identify lenders from across the market whose criteria may be appropriate for you.
We support you through the full application, liaising with the lender and helping with documentation through to formal mortgage offer.
Reviews reflect individual experiences and do not guarantee similar outcomes. We do not select or filter reviews. We do not control the content of third-party review platforms.
Call 01422 354011 or use the form below for a free initial conversation.
No fee for the initial consultation. A broker fee of £299 becomes payable on receipt of a formal mortgage offer if you choose to proceed. Full fee details are provided before any charge becomes due. We may receive commission from lenders. Your home may be repossessed if you do not keep up repayments on your mortgage.
Get First Time Buyer Mortgage AdviceWoodhall Mortgages is authorised and regulated by the Financial Conduct Authority (FRN 762513). Woodhall Mortgages is a whole-of-market mortgage broker. We consider a comprehensive range of mortgages from across the market, but not all lenders or products may be included. A broker fee of £299 becomes payable on receipt of a formal mortgage offer if you choose to proceed. Full fee details are provided before any charge becomes due. We may receive commission from lenders; this does not affect the advice you receive. This page contains general information only and does not constitute regulated mortgage advice. Stamp duty information is correct as at 1 April 2025 and is subject to change; verify current rates on the HMRC website. Your home may be repossessed if you do not keep up repayments on your mortgage. Last reviewed: May 2026. Woodhall Mortgages, Croft Myl, West Parade, Halifax, HX1 2EQ.
Buying a home or reviewing your mortgage can feel complicated, but it doesn’t have to be. A quick conversation can give you clarity on your options, your budget, and the next realistic steps. There is no obligation and no pressure, just straightforward guidance tailored to you. Complete the short form below and we will be in touch to help you move forward with confidence.
