First-Time Buyer Mortgage Advice in London, Kent & the South East
Buying your first home is a big step, and lender criteria, deposit requirements and affordability rules vary widely across London, Kent and the South East. We help you understand what you can borrow, what deposit you’ll need, and which lenders may suit your circumstances. Our typical fee is £500 per application — see our fees in full.
- Whole-of-market advice for first-time buyers
- Help with deposits, affordability and Agreement in Principle
- Support for gifted deposits, self-employed buyers and credit issues
- Guidance for buyers across London, Kent and the South East
broad range of UK lenders
Momentum Financial Services Ltd · FRN 1011740
a real adviser, start to finish
rates, fees & total borrowing
Tell us about your first home plans
Share a few details about your circumstances and one of our advisers will come back to you with tailored first-time buyer mortgage advice — built around lender criteria and affordability, not just headline rates.
Enquiry Form
Tell us about your situation and we'll get back to you with tailored advice.
Whole-of-market advice for first-time buyers across London, Kent and the South East
Buying your first home in London, Kent or the South East can feel very different from buying elsewhere in the UK. Property prices, deposit requirements, lender affordability checks and monthly payments vary significantly depending on whether you’re buying a flat in London, a house in Kent, a shared ownership property, or a first home with help from family.
Falcon Finance provides whole-of-market first-time buyer mortgage advice for clients across London, Kent and the surrounding areas. We help you understand how much you may be able to borrow, what deposit may be needed, which lenders may suit your circumstances, and what steps to take before making an offer.
We regularly support first-time buyers who are buying alone, purchasing with a partner, using a gifted deposit, working as self-employed or contractor applicants, or trying to understand whether previous credit issues could affect their options. If you’d like a wider view of the process, our mortgage guide covers the journey from application to completion, and if you’re buying in the capital our guide to a mortgage broker in London may also help.
At a Glance
Why First-Time Buyer Mortgages Need Careful Planning
A first-time buyer mortgage isn’t only about finding the lowest interest rate. Lenders assess your full financial position before deciding whether to lend, how much they may offer and which products may be available. Two buyers with the same income can be offered very different mortgage amounts once spending, debts, deposit and credit profile are taken into account — this may include:
Falcon Finance helps first-time buyers understand how lenders are likely to view their application, and which mortgage options may be suitable, before a full application is submitted. If your circumstances are more complex, we can also help with specialist mortgage advice.
Work out your first-home numbers
What deposit you need, what relief you qualify for, and what a lender would realistically lend you.
Mortgage Deposit Calculator
See what deposit a given property price and LTV would need.
First-Time Buyer Stamp Duty
Check whether relief applies and exactly what it saves you.
How Much Can I Borrow?
See what your income could realistically support before you speak to a lender.
Buying Your First Home in London, Kent or the South East
First-time buyers across London, Kent and the South East often face different affordability challenges depending on the property type and location.
A Flat in London
Weigh up service charges, lease length, ground rent, building safety requirements and higher purchase prices alongside your mortgage costs.
A House in Kent
Priorities often shift towards deposit size, commuting costs, monthly budget, school catchment areas and borrowing jointly with a partner.
For many buyers, the first step isn’t choosing a mortgage product — it’s understanding what’s realistic based on income, deposit, monthly budget and lender criteria. This early planning is especially useful if you’re buying with a small deposit, receiving help from family, self-employed, or unsure whether previous credit issues could affect your application.
First-Time Buyer Affordability: What Lenders Look At
Lenders don’t all calculate affordability the same way. One lender may be comfortable with overtime, bonus or commission income, while another takes a stricter view. Some are more flexible with self-employed income, contractor day rates, gifted deposits or applicants with minor credit issues. When assessing a first-time buyer mortgage, lenders may review:
This matters because a basic online calculator may not reflect what you can actually borrow. Falcon Finance can help you understand how much you may be able to borrow and which lenders may be more suitable for your circumstances.
How Much Deposit Do First-Time Buyers Need?
Many first-time buyers use a deposit of 5%, 10%, 15% or more of the property price. The deposit you need depends on the lender, property type, mortgage product, income, credit profile and affordability. Loan to Value (LTV) is the percentage of the property value you’re borrowing — a smaller deposit means a higher LTV.
5%
deposit → 95% LTV mortgage
10%
deposit → 90% LTV mortgage
15%
deposit → 85% LTV mortgage
A larger deposit can often give you access to more lenders, more competitive rates and lower monthly payments — but keep money aside for legal fees, survey costs, moving costs, furniture, insurance and emergency savings too. This is especially important in London, Kent and the South East, where the deposit needed can vary significantly by property type.
Common First-Time Buyer Questions
Can I get a mortgage with a 5% deposit?
Yes — some first-time buyers can buy with just a 5% deposit (a 95% LTV mortgage), subject to lender criteria, affordability, credit history and property type. You’ll usually have fewer lender options and higher monthly payments than with a larger deposit.
Can I use a gifted deposit from my family?
Yes, most lenders accept a deposit gifted by family. You’ll need clear evidence of where the money came from and a signed letter confirming it’s a gift, not a loan. Requirements can vary if the funds come from overseas, a property sale, or more than one family member.
Yes. Overtime, bonus, commission, contractor day rates, CIS income and self-employed profits are all treated differently by different lenders — we match you to a lender whose criteria suit how your income is earned and evidenced.
It may still be possible. Missed payments, defaults, CCJs or previous arrears don’t automatically rule out a mortgage, but they do affect which lenders will consider you — the timing, amount and whether the issue has been resolved all matter.
Types of First-Time Buyer Mortgage
First-time buyers can choose from different mortgage types depending on budget, attitude to risk and future plans.
Fixed-Rate Mortgages
Keeps your interest rate the same for a set period, such as two, three or five years — useful if you want predictable monthly payments while you settle into homeownership.
Tracker Mortgages
Usually follows an external rate, such as the Bank of England base rate, plus a set percentage. Monthly payments can rise or fall, so tracker mortgages carry more payment uncertainty than a fixed rate.
Variable-Rate Mortgages
Can change at the lender’s discretion, meaning your monthly payment could increase or decrease during the term. Not always suitable if you need certainty over payments.
Repayment Mortgages
The most common choice for first-time buyers. Each payment covers interest and reduces the balance, so the mortgage should be repaid in full by the end of the term provided all payments are made.
Interest-Only Mortgages
Less common for first-time buyers. Payments cover interest only and don’t reduce the capital balance, so you’d need a credible repayment strategy to clear the mortgage at the end of the term. Not suitable for everyone.
First-Time Buyer Mortgage Lenders
Different lenders have different rules for first-time buyers. Some are more flexible with small deposits, while others suit applicants with gifted deposits, self-employed income, contractor income or previous credit issues. Because lender criteria differ so much, choosing the right lender isn’t just about finding the lowest rate — we compare options across the whole market to help identify lenders that may fit your circumstances.
First-Time Buyer Support Options
Some first-time buyers may be able to use savings products, purchase schemes or family support options to help with their first home.
Lifetime ISA
Can help some first-time buyers save towards a purchase. Rules apply around how much you can save, when the account can be used, and the type of property you can buy — check the official guidance before relying on it for your deposit plans.
Shared Ownership
Lets you buy a share of a property and pay rent on the rest, which may reduce the deposit and mortgage needed upfront — though you’ll also need to budget for rent, service charges and other costs.
First Homes Scheme
May help eligible first-time buyers purchase qualifying properties at a discount. Availability depends on location, eligibility and property supply, so check the rules carefully.
Joint Borrower Sole Proprietor
May allow a family member to support your affordability without being named as an owner of the property. This can help some buyers borrow more, but it isn’t suitable for everyone.
Benefits of First-Time Buyer Mortgage Advice
Getting advice before you apply can help you understand your position, avoid unsuitable lenders and prepare your application properly.
What Costs Should First-Time Buyers Budget For?
Your deposit is only one part of the cost of buying your first home. Before making an offer, it’s worth understanding both the upfront and ongoing costs of owning the property. You may also need to budget for:
Some mortgage fees can be paid upfront or added to the mortgage — but if you add fees to the mortgage, you’ll usually pay interest on them over the term. Falcon Finance can help you understand the likely upfront and ongoing costs before you commit to a property purchase.
Do First-Time Buyers Pay Stamp Duty?
First-time buyers may benefit from Stamp Duty relief depending on the property value, location and the rules in place at the time of purchase. Stamp Duty Land Tax applies in England and Northern Ireland; Scotland and Wales have different property tax systems. You can estimate your Stamp Duty bill before you make an offer.
Because thresholds and relief rules can change, check the latest position before you buy. Falcon Finance can help factor estimated costs into your affordability review, but tax advice and the exact amount payable should be confirmed by your solicitor or a tax specialist.
Documents Needed for a First-Time Buyer Mortgage
Preparing your documents early can help reduce delays once your offer is accepted. Requirements vary by lender, but most applications need evidence of identity, income, deposit and bank conduct.
Proof of Identity
Valid passport or driving licenceProof of Address
Recent utility bill, bank statement or council tax billProof of Income
Payslips, P60, or accounts if self-employedBank Statements
Usually the latest 3 months of statementsDeposit Evidence
Savings, Lifetime ISA, or a gifted deposit letterIf your deposit is gifted, the person providing it will usually need to sign a gifted deposit letter and provide supporting evidence.
The First-Time Buyer Mortgage Process
Falcon Finance helps make each stage clear, from your first affordability review through to completion.
Initial Affordability Review
We review your income, deposit, spending and credit profile to understand how much you may be able to borrow.
Agreement in Principle
Once we understand your position, we help arrange an Agreement in Principle with a suitable lender.
Property Search & Offer
Use your budget and Agreement in Principle to start viewing properties and making offers with confidence.
Full Mortgage Application
Once your offer is accepted, we prepare and submit your full mortgage application with the chosen lender.
Valuation & Underwriting
The lender reviews your documents, assesses the application and arranges a valuation of the property.
Mortgage Offer
If the lender is satisfied, they issue a formal mortgage offer, and your solicitor continues the legal work.
Exchange & Completion
Once contracts are exchanged and completion is agreed, your mortgage funds are released and you collect the keys.
What our clients say
We’re proud of the relationships we build with our mortgage and protection clients. Here’s what they say about working with Falcon Finance on Google.
Read More Before You Buy
The questions first-time buyers ask most, in the order they usually come up.
How Much Deposit Do You Need?
What each deposit size actually reaches, and what staying small costs you.
Gifted Deposits
How a family gift is evidenced, and what the person giving it has to sign.
Stamp Duty Explained
Current rates, first-time buyer relief and the surcharges that catch people out.
Shared Ownership Mortgages
Buying a share, staircasing later, and the lenders who handle it well.
Ready To Buy Your First Home?
We will tell you what you can realistically borrow, what deposit you need and which lenders fit your circumstances. No cost and no credit search.
Read our mortgage guides, view our frequently asked questions, or explore the locations we serve.
Frequently Asked Questions – First-Time Buyer Mortgages
How long does it take to get a mortgage as a first-time buyer?
The timescale can vary depending on the lender, valuation, solicitors, property chain and how quickly documents are provided. Many mortgage offers are issued within a few weeks of application, but the full purchase process can take longer because legal work, searches, surveys and property chains may also be involved.
Can I get a mortgage with a 5% deposit?
Some first-time buyers may be able to get a mortgage with a 5% deposit, subject to lender criteria, affordability, credit history and property type. A larger deposit may increase your lender options and could improve the mortgage rates available.
What credit score do I need for a first-time buyer mortgage?
There is no single credit score that guarantees mortgage approval. Lenders assess your overall credit history, income, deposit, debts, spending and affordability. Some lenders may consider applicants with previous credit issues, but the options depend on the details of your situation.
Can I use a gifted deposit?
Yes, many lenders accept gifted deposits from family members, subject to their criteria. The person gifting the money will usually need to confirm that the funds are a gift, not a loan, and that they will not have an ownership interest in the property.
Do I need an Agreement in Principle before viewing properties?
You do not always need an Agreement in Principle before viewing properties, but it can be helpful. Estate agents may ask for one before accepting an offer because it shows that you have started the mortgage process and have a realistic budget.
Can I get a mortgage if I am self-employed?
Yes, self-employed first-time buyers can get mortgages, but lenders will usually need evidence of income. This may include tax calculations, tax year overviews, accounts or business bank statements. Different lenders assess self-employed income in different ways, so advice can be useful.
Can I get a first-time buyer mortgage with bad credit?
It may be possible, depending on the type of credit issue, how recent it was, whether it has been resolved, your deposit size and your current affordability. Specialist lenders may consider some applicants with adverse credit, but criteria vary.
Do first-time buyers pay Stamp Duty?
First-time buyers may qualify for Stamp Duty relief depending on the property value, location and the rules in place at the time of purchase. Stamp Duty rules can change, and different systems apply in Scotland and Wales, so you should check the latest position before completing your purchase.
Have a different question? Get in touch or read our full mortgage FAQs.