First time buyers

What you'll need

• A deposit. 5% is possible with some lenders. 10% opens up a lot more. The bigger it is, the better the rates you'll typically be offered.
• Proof of income. Payslips and bank statements if you're employed; accounts or SA302s if you're not.
• A reasonable credit history. Not perfect. Reasonable.
• Money for the other costs. Solicitor, survey, and Stamp Duty if it applies. Easy to forget these and get caught short.

The order it happens in

1. 1

   Talk to us first, before you view anything

   You'll know your actual budget instead of guessing.

2. 2

   Get an Agreement in Principle

   A lender's indication of what they'd lend. Estate agents take offers more seriously with one.

3. 3

   Find the place and offer

   Now you're offering on something you know you can fund.

4. 4

   Full application

   We handle it.

5. 5

   Valuation and underwriting

   The lender checks you and the property.

6. 6

   Offer issued

   Then it's over to the solicitors.

Terms you'll hear

• LTV — loan to value. How much you're borrowing against what the place is worth, as a percentage.
• AIP / MIP — Agreement or Mortgage in Principle. An indication, not a promise.
• APRC — the true annual cost including fees, useful for comparing deals fairly.
• ERC — early repayment charge. A fee if you pay off or overpay beyond the agreed limits during your deal period.
• SVR — standard variable rate. The rate you drop onto when your deal ends.