First Time Buyer Mortgages | Fee-Free Advice

How Can We Help
First-Time Buyers?

Buying your first home is an exciting and massive milestone, but it doesn’t need to be difficult. At Boon Brokers, we will provide you with fee-free mortgage advice, assigning you a dedicated expert to help guide you from your first enquiry to completion. With access to the entire market, we will find you the mortgage that matches your needs and financial situation, helping manage your application every step of the way.

Fee-Free mortgage advice
Whole-of-market access
End-to-end support and guidance
Regulated and authorised by the FCA

Submit an enquiry and await contact from one of our expert fee-free brokers.

Expert Advice

Your broker will listen to your purchase requirements and provide a proposal.

Mortgage Offer

Your broker will submit your application and await your mortgage offer.

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How Much Deposit Will I Need as a First-Time Buyer?

Most first-time buyers will aim to put down around 10% of the property price, as this can help achieve better rates and mortgage offers. However, some specialist lenders will offer 5% and lower deposit options. In addition, there are also Family springboard mortgages that can help you buy a property with as little as 0%, as long as a family member places at least 10% of the purchase price into a linked savings account for a set period. To find out all the options that are specifically available to you, contact Boon Brokers and talk to our experts for completely fee-free mortgage advice.

How Much Can a First-Time Buyer Borrow?

The amount you can borrow depends on many factors and there is not a one size fits all borrowing amount. Instead, your borrowing power will typically depend on your income, outgoings, and credit history. As a rough guide, most lenders offer up to 4.5 times your annual income, but this can vary between lenders. For tailored calculations and advice, Boon Brokers can calculate your exact borrowing potential and find lenders who match your affordability.

What Is the Best Mortgage for a First-Time Buyer?

There’s no single best mortgage for first-time buyers – it depends on your goals, deposit size, and financial situation. Common options include fixed rate, tracker, low-deposit and family springboard mortgages. Boon Brokers compares the entire market to find the most suitable deal that matches your needs.

Can First-Time Buyers Get a Mortgage with Bad Credit?

Yes, having a low credit score doesn’t necessarily stop you from buying your first home. Every lender has different criteria, and many accept applications from buyers with poor credit. Our advisers will help you find lenders who are more flexible and guide you on improving your profile.

Should First-Time Buyers Use a Mortgage Broker or Go Direct to a Bank?

The main difference is that banks can only offer their own products, while a whole-of-market broker like Boon Brokers can compare thousands of mortgage deals across the market. We take into consideration more than just the headline rates, including term length, fees, and flexibility, all to secure the right mortgage for your needs.

Can First-Time Buyers Use a Comparison Site to Find a Mortgage?

Yes, comparison sites can be used to give you an overview of current options, however, these sites often only display limited lenders and headline rates. It’s important to understand that any rate shown will not account for your personal situation or product features that could save money. Boon Brokers gives you full market access and personalised advice, helping you secure the best deal without the guesswork.

Do Mortgage Brokers Charge First-Time Buyers a Fee?

Many brokers charge fees for their services, but Boon Brokers is a completely fee-free service. We’re paid commission by the lender, not you, meaning you’ll never pay for our advice - even if you decide not to proceed. You get expert, unbiased support at no cost to your pocket.

Who Qualifies as a First-Time Buyer?

You’re classed as a first-time buyer if you’ve never owned a residential property in the UK or abroad. You can still qualify if you’ve only owned a commercial property, such as a shop or salon, without any living space.