First-time buyer mortgage advice. Get clear on what you can borrow.
The Mortgage League helps first-time buyers understand affordability, deposits, mortgage options and monthly payments before they start viewing homes. Use our first-time buyer affordability calculator, then speak to a mortgage adviser for personal guidance on buying your first home in Berkshire, Oxfordshire and beyond.
- Step-by-step guidance. From DIP to keys, we walk you through every stage.
- Fast affordability check. Know what you can borrow before you start viewing.
- Jargon-free advice. Plain English answers to every first-time buyer question.
- Trusted partners. Solicitor and surveyor recommendations when you need them.
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Izzy Hammond
"We recently bought our first home with Ves' assistance. He made the process simple and stress-free and was friendly, approachable and always answered our questions. Couldn't have asked for better service!"
Marina Loffredo
"Ves is outstanding! He made the mortgage process simple, stress-free, and even enjoyable 😊 Always available, always clear, and always going the extra mile. I'm so grateful that he found us a brilliant deal and kept us informed every step of the way. Couldn't have asked for better service!"
The FCA does not regulate some forms of Buy to Lets. Think carefully before securing other debts against your home/property.
Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.
The First-Time Buyer Journey
Eleven milestones from "I'm thinking about buying" to "I've got my keys." Tap any step for a practical insight from someone who does this every day.
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Work out your budget
Lenders look at far more than just salary when working out what you can borrow. There are also specialist first-time buyer mortgage products available and some lenders may offer a higher Loan to Income (LTI) ratio to qualifying first-time buyers, subject to eligibility and lender criteria. Use our calculator for a guide figure, then speak to an adviser for a tailored assessment.
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Get a Decision in Principle
A DIP is a lender's conditional agreement to lend you a certain amount. It typically takes 24 to 48 hours to arrange. Without one, most estate agents won't take your offer seriously. Get yours sorted in a quick call.
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Find a solicitor
Instruct a solicitor before you find a property. The best ones get booked up fast and starting early saves weeks. Typical conveyancing fees could be around £1,500 to £2,500, depending on the firm and the complexity of your purchase. If you'd like, we can recommend a trusted conveyancing solicitor we've worked with.
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Start viewing properties
Take your time viewing properties and try to visit more than once, ideally at different times of day. Check practical things like mobile signal, broadband availability, parking, local transport and the surrounding area so you have a clear picture before making any decisions.
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Make an offer
Offers are made verbally through the estate agent and are not legally binding at this stage. Don't offer the asking price without checking what similar properties nearby have actually sold for on Rightmove.
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Offer accepted
Congratulations, but you're not there yet. Nothing is legally binding until exchange of contracts. Instruct your solicitor immediately and book your survey.
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Mortgage application submitted
Your adviser submits your full application to the lender with all supporting documents, having first checked that you meet the lender's criteria. We know which lenders move fastest and which are most likely to say yes.
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Survey and valuation
Your lender will instruct a mortgage valuation, but this is for the lender's benefit only and tells you nothing about the condition of the property. We recommend a Level 2 RICS HomeBuyer Survey (typically around £400 to £900) for most modern homes, or a Level 3 RICS Structural Survey (typically around £600 to £1,500+) for older properties, anything that has been extended, or homes that have had serious structural work done. Actual fees could vary depending on the surveyor and the property.
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Mortgage offer received
Once the lender is satisfied, they issue a formal mortgage offer. This is valid for 3 to 6 months. If the offer expires before completion, most lenders will grant a short extension (usually around a month) which your adviser can apply for on your behalf. Your solicitor and the seller's solicitor now work to exchange contracts.
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Exchange of contracts
This is the moment it becomes legally binding. Your deposit and any solicitor fees are paid directly to your solicitor and a completion date is agreed. You can now book your removal van.Be extremely careful when transferring money. Always double check the account details directly with your solicitor over the phone before sending any funds. The Mortgage League will never handle client money.
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Completion day
The remaining funds transfer from your lender to the seller. Completion can sometimes take a few hours while all the solicitors in the chain communicate and confirm that funds have been received, so most completions happen from late morning onwards. In rare cases completion may not happen on the expected day, so have a back up plan for where to stay and store your belongings. Once it's done, you get the keys. You own a home. The Mortgage League stays in touch and we'll be there when your mortgage needs reviewing.
Common first-time buyer questions
The questions we get asked every week. Honest answers, no jargon.
How big a deposit do I actually need?
Do first-time buyers still get stamp duty relief?
Can my parents gift me the deposit?
We're buying as a couple, do both incomes count?
What about Help to Buy and shared ownership?
Ready to get started with your mortgage?
Tell us a bit about your plans and we'll be in touch to guide you through your options. We aim to respond within 20 minutes!
Ves Doctorov Cert SMP
Owner & Principal Mortgage Adviser