First Time Buyer Mortgage Broker UK

Expert First Time Buyer Mortgage Broker Services

January 25, 2026

This guide is for first time buyers looking to understand how a mortgage broker can help them secure their first home, save money, and avoid common pitfalls. If you are a first time buyer, someone who has never owned a property, navigating the complex process of buying your first home can be overwhelming. There are many mortgage options, legal requirements, and saving challenges to consider.

Managing your money is key, including knowing how much you need for your deposit and other costs. Most buyers will encounter additional expenses such as fees and deposits when purchasing their first home. You might also consider joint mortgages or involving a family member to help with the deposit.

A joint mortgage can help you to be able to borrow a larger amount, making it easier to purchase a home. Buying your first house and securing your first mortgage is an exciting milestone, but it can also be challenging to know what you can afford.

As a dedicated first time buyer mortgage broker, Fox Davidson helps first time buyers determine what they can afford by offering budgeting tools and expert advice to guide you through affordability and eligibility. Using a mortgage broker can save you time, stress, and money, and can improve your chances of mortgage approval. This matters because a first time buyer mortgage broker can help you navigate the complex process, save money, and access better deals.

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At Fox Davidson, we simplify the home buying journey so you can focus on getting your keys faster. All this comprehensive support, advice, and guidance is included in our service. We guide you through the entire application process, from your initial inquiry and mortgage agreement in principle to choosing a lender and receiving your mortgage offer.

Unlike a bank, which can only offer its own products and may have stricter lending criteria, we provide access to a wide range of lenders and better deals. We search the market to find the best deal for first time buyers, comparing multiple mortgage deals to secure the most suitable one for your needs.

Fox Davidson can also access exclusive deals not available directly from high street lenders. Our service is fee free, meaning you pay no fee for our advice or support some brokers charge a fee, but we are paid by the lender, saving you money and ensuring transparency.

this is an image of a property secured by a first time buyer mortgage broker in Bristol

Why Choose Fox Davidson as Your First Time Buyer Mortgage Broker

Using a mortgage broker can save you time, stress, and money, and can improve your chances of mortgage approval. Our mortgage advisers are fully qualified and regulated by the Financial Conduct Authority (FCA), ensuring you receive expert and trustworthy advice.

Benefit	How Fox Davidson Helps
Save Money	We find competitive mortgage rates and exclusive first time buyer mortgages that could save you thousands over your term.
Access Special Schemes	We connect you with schemes such as low deposit schemes and enhanced income multiples.
Get Faster Approval	We prepare your application and secure your Agreement in Principle quickly with a soft credit check.
Avoid Legal Delays	We guide you through conveyancing, surveys, and coordinate your completion date.
Maximise Borrowing Power	We help you understand how much you can borrow and find the best loan for your needs, while also making sure you are aware of the risks associated with loans, such as payment difficulties or changes in property value.
Choose the Right Mortgage Term	We advise on terms that fit your budget and goals.
Choose the Right Provider	We help you select the most suitable mortgage provider from a wide range of lenders.
Consider Lending Criteria	We compare different lenders’ lending criteria to find the best fit for your circumstances.
Understand Broker Fees	Some mortgage brokers charge a typical fee, either as a flat amount or a percentage of the loan, while others are fee-free and paid by the lender. Fox Davidson offers a fee free service, so you pay no broker fee.

Our qualified advisers support you every step of the way, making your journey smoother.

Next, let’s explore how Fox Davidson’s process works to help you secure your first home.

How Fox Davidson’s Process Works

Step 1: Financial Health Check
We assess your income, expenses, debts, and credit history. We help calculate your deposit, potential mortgage payment, and budget for your property search, including legal fees, valuation fees, and other costs. If you are self-employed, we advise keeping your financial records up to date to strengthen your mortgage application. If you are considering an offset mortgage, linking a savings account can help reduce interest payments.

Step 2: Mortgage Market Analysis
We compare a range of mortgage deals from across the market to find the most suitable option. Calculate all costs including lender fees, cash back and valuation fees. We present the most cost effective mortgage solution for you and have the loan agreed in principle. With your budget and Agreement in Principle, you can start house hunting. Fox Davidson helps you get a mortgage by guiding you through each step of the process.

Step 3: Application to Completion
We handle your full mortgage application and coordinate surveys and the legal process. You can also apply online for your mortgage, making the process more convenient. Managing your mortgage online allows you to view estimated loan amounts, interest rates, and payment details easily. Fox Davidson receives payment from the lender once the mortgage completes, not from the client.

The loan-to-value ratio (LTV) describes the amount you can borrow on a mortgage compared to the overall cost of a property, usually shown as a percentage.

Fox Davidson supports clients through the entire process, from initial assessment to completion.

Next, let’s look at the legal steps involved in buying your first home.

Understanding Conveyancing and Legal Processes

Conveyancing is the legal transfer of property ownership. Conveyancing involves reviewing the characteristics and valuation of properties to ensure a smooth transaction. A solicitor or specialist conveyancer handles this, reviewing contracts and negotiating with the seller. Choosing the right professional familiar with first time buyer mortgages and the local market is important.

Budget for legal fees, valuation fees, life insurance and buildings insurance, these add to your costs. Use an online mortgage calculator or speak with a mortgage adviser to plan accordingly. Don’t forget about stamp duty which may apply depending on your property’s price and location. These taxes are calculated based on the property’s value, so understanding the property’s worth is essential. Worth noting, many first time buyers qualify for stamp duty relief or exemptions.

Your solicitor will keep you updated through legal searches, contract preparation, and negotiations. Once complete, you get the keys to your new home.

Now, let’s consider the key factors every first time buyer should keep in mind.

Key Considerations for First Time Buyers

When considering your options as a first time buyer, it’s important to think not only about securing the right mortgage, but also about protecting your life and your ability to make mortgage repayments. Financial protection insurance or careful planning can help ensure you and your family are safeguarded against unforeseen circumstances that could impact your income or ability to meet your mortgage obligations.

When choosing a mortgage broker, first-time buyers should check the broker’s credentials, fee structure, and ask about borrowing power, mortgage types, first-time buyer schemes, and all associated costs.

Protecting Your Mortgage

Consider financial protection insurance to safeguard your ability to make mortgage repayments.
Plan for unforeseen circumstances that could impact your income, such as illness or job loss.

Budgeting for Additional Costs

One of the biggest hurdles for first time buyers is saving enough for a deposit.
Typically, a deposit is at least 5% of the purchase price of the property, but putting down a larger deposit can help reduce your interest rate and monthly payments.
Aside from the deposit, you need to budget for legal fees, valuation fees, buildings insurance, and potential moving costs.
With some government schemes, such as Shared Ownership, you may also need to pay rent on the portion of the property you do not own.

Government Schemes

Many first time buyers benefit from government backed schemes designed to help you get on the property ladder sooner.
These include shared equity schemes, Help to Buy, and other incentives that may reduce your deposit requirements or offer more favourable terms.
Fox Davidson can help you identify and apply for these schemes.

Mortgage Types

There are various types of mortgages available, including repayment mortgages and interest only mortgages.
Repayment mortgages involve paying both the interest and part of the loan amount each month, so you gradually own more of your home.
With an interest only mortgage you only pay the interest. These are reserved for clients with larger incomes and low loan to values.
Your mortgage adviser can help you choose the best option based on your financial situation.
A fixed rate mortgage means the interest rate stays the same for a set period, typically between 2 and 10 years. This provides stability for borrowers, as your monthly payments will not change during the fixed period.
After the fixed period ends, borrowers usually move to a variable rate, often the lender’s standard variable rate (SVR) which can change over time.
Tracker mortgages are another option, where the interest rate follows England’s base rate set by the Bank of England. This means your payments can fluctuate if the base rate changes.

Credit File Checks

Before you apply for a mortgage, it’s important to check your credit file.
Lenders use this to assess your creditworthiness.
If there are any errors or negative marks, addressing them early can improve your chances of approval and secure better rates.

Next, let’s review some helpful advice for first time buyers.

Helpful Advice for First Time Buyers

1. Use an Online Mortgage Calculator

Get familiar with an online mortgage calculator to get a rough idea of borrowing capacity and what those monthly payments might look like.
This tool lets first time buyers play around with different interest rates, loan amounts, and terms – it’s brilliant for planning your budget and seeing how a rate change or bigger deposit could impact your finances before you dive into an application.

2. Check Your Credit File

Your credit file is absolutely key to the mortgage rates you’ll be offered, and lenders will run those checks as part of your application.
A solid credit history opens doors to more competitive rates and better terms – that’s just how the game works.
If your credit file isn’t perfect, don’t panic. There are still first time buyer mortgages out there, but you’re likely looking at higher interest rates or needing a chunkier deposit.

3. Explore Government Backed Schemes

First time buyers should definitely explore government backed schemes and first time buyer programmes – they can genuinely help you get on the ladder sooner than you might think.
These schemes often offer lower interest rates, reduced deposit requirements, or other benefits that make your first home more affordable.
However, and this is important, always scrutinise those mortgage terms carefully and factor in all the other costs – legal fees, valuation fees, buildings insurance, stamp duty. They add up faster than you’d expect.

4. Understand Your Monthly Payments

It’s worth remembering that your monthly payments will typically include both interest and capital but in the early years most of your monthly payment will go towards the interest.

Next, let’s dive deeper into mortgage rates and repayments.

Mortgage Rates and Repayments

Getting your head around mortgage rates and repayments is crucial if you’re looking to get on the property ladder for the first time. The rate you manage to secure will directly hit your monthly payments and what you’ll end up paying over the full term. We’re seeing mortgage rates vary quite dramatically between lenders right now, and it all comes down to your credit history, how much deposit you can scrape together, which type of mortgage you go for, and how long you want to tie yourself in for.

Now, let’s look at the importance of getting a mortgage offer and what it means for your home buying journey.

The Importance of Getting a Mortgage Offer

An Agreement in Principle gives you a rough idea of how much you could borrow, but it is not a guarantee. A mortgage agreement in principle is a quote for how much you could hypothetically be able to borrow from a lender. After you make a full mortgage application, your lender will issue a mortgage offer if approved. This offer details the terms of the loan you are committing to repaying.

Next, let’s discuss working with estate agents and the house hunting process.

Dealing with Estate Agents and House Hunting

Once you have your Agreement in Principle, you can start house hunting. Working with experienced estate agents can help you find the right property. Remember to consider the location, condition, and whether the property meets your needs as a main residence or investment.

If things don’t go as planned, it’s important to know your options and risks.

What Happens If Things Go Wrong?

It’s important to be aware of the risks. If you can’t keep up repayments on your mortgage, your home may be repossessed. Always budget carefully and consider what might happen if your circumstances change, such as losing your job or facing unexpected expenses. Fox Davidson can help you plan for these possibilities.

Ready to move forward? Here’s how to take the next step.

Moving Forward: Your Dream Home Awaits

Buying your first home is a major milestone. With the right advice and support from Fox Davidson, you can navigate the complexities of the mortgage process with confidence. Whether you’re self employed, newly qualified or just started a new job, we tailor our services to your unique needs.

Our mortgage advisers are fully qualified and regulated by the Financial Conduct Authority (FCA), ensuring you receive expert and trustworthy advice.

Ready to take the next step? Contact Fox Davidson today for personalised, expert first time buyer mortgage advice and start your journey to owning your own home.