How much deposit do I need as a first-time buyer?

It varies by lender and property. Deposits now start from as little as 2.5%, and 100% loan-to-value mortgages are available for some buyers, with better rates typically available at 10% and 15%. We’ll show you what your deposit realistically buys and whether waiting to save more would actually pay off.

What is an agreement in principle, and do I need one?

It’s a lender’s indication of what they’d lend you, based on a light check. Estate agents increasingly expect one before viewings are taken seriously. We can usually arrange one quickly, with a lender chosen to fit your circumstances rather than at random.

Do first-time buyers pay stamp duty?

First-time buyers benefit from stamp duty relief on properties up to certain thresholds. Use our Stamp Duty Calculator for an estimate, and we’ll confirm your position as part of the advice process.

First-Time Buyer Mortgages

Your first purchase, guided properly, from first viewing to keys in hand.

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Buying your first home shouldn’t feel like an exam

Deposits, agreements in principle, lender criteria, surveys, exchange. The first purchase comes with a vocabulary nobody teaches you and decisions that feel irreversible. Online calculators give you a number; they don’t give you a plan.

A good broker changes the experience entirely: one person who knows the whole market, explains every step in plain English, and is accountable for getting you to completion.

How ERG helps

Plain-spoken guidance, start to finish:: We explain your real budget, the schemes and options open to you, and what each lender will want to see, then we handle the application and chase it to completion.
Whole-of-market choice:: With over 170 lenders we’re not pushing one bank’s products. We match your deposit, income and plans to the lender most likely to say yes on the best available terms.
Strong even when your income isn’t simple:: Self-employed, newly qualified, bonus-led or gifted deposit, complex cases are our specialism, and first purchases are no exception.

Detail, removal boxes and a plant by a bright doorway; optimistic, editorial

Who we help

First purchases come in every shape. We advise:

First-time buyers saving with a small or gifted deposit
Buyers using family support or guarantor arrangements
Newly qualified professionals early in their career
Self-employed and freelance first-time buyers
Buyers purchasing with a partner or friend

Residential Mortgages → Mortgage Repayment Calculator → Stamp Duty Calculator →

Frequently Asked Questions

It varies by lender and property. Deposits now start from as little as 2.5%, and 100% loan-to-value mortgages are available for some buyers, with better rates typically available at 10% and 15%. We’ll show you what your deposit realistically buys and whether waiting to save more would actually pay off.
It’s a lender’s indication of what they’d lend you, based on a light check. Estate agents increasingly expect one before viewings are taken seriously. We can usually arrange one quickly, with a lender chosen to fit your circumstances rather than at random.
First-time buyers benefit from stamp duty relief on properties up to certain thresholds. Use our Stamp Duty Calculator for an estimate, and we’ll confirm your position as part of the advice process.

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Your consultation

A 30-minute telephone call with one of our advisers. Tell us a little about your situation and we’ll match you with the right person.

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