First Time Buyer Mortgages

Buying a house for the first time should be an exciting and non-stressful experience.

That’s why Sett Mortgages does everything we can to make your first-time home purchase as simple as possible and get you settled into your new home as soon as possible.

As a first-time home buyer, you may feel a lot of pressure and stress to get everything right and understand the processes. We’re here to help you simplify things and make it a stress-free, exciting journey.

Continue reading to find more expert mortgage help for first time buyers.

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Knowing your budget is critical for your property search, and if you’re purchasing your first home, this can be a daunting and confusing number to figure out. We’ll work with you closely to determine how much you can borrow as a first-time buyer. Then, we’ll walk you through the entire mortgage process.

We’ll use our property expertise to find the best first-time buyer mortgage for you and suitable properties for your budget.

We’ll make sure your applications and follow ups are taken care of until you’re all moved in and putting the kettle on.

We can handle all this for you too

If you’re looking to buy your first home and need some help and support, please contact us today for free expert advice.

We can walk you through the process of finding the best mortgage providers for first time buyers and explain how we can help you.

After we’ve talked, it’s up to you how we proceed and whether you want us to be your first-time buyer mortgage advisor.

Sett Mortgages can assist you whether you just want some information on how buying your first home works or you’re ready to take the next steps.

What is a first time buyer?

We frequently hear the questions, “What qualifies as a first-time buyer?” and “Who are first-time buyers?”

Although this appears to be a simple answer, it is not always a quick answer.

For many lenders, first-time buyer status varies, and there are specific rules you must meet to qualify as a “first time buyer” on specific schemes (e.g., Help to Buy).

A first-time buyer is officially defined as:

“A person buying a house or flat who has not previously owned a home and therefore has no property to sell.”

However, there are some things to consider, such as what if you’ve owned a home in another country? What if you received an inherited property? What if you’re buying as a couple but one of you has previously owned somewhere?

This is where things can get confusing if you don’t know which buyer status you have.

So, here are some of the most common scenarios for first-time buyers:

Can a first time buyer get a mortgage?

Yes, a first-time buyer can obtain a mortgage depending on factors such as deposit amount, income, and credit score.

The benefits of being a first time buyer

There are numerous advantages to being a first-time buyer, including:

What deposit does a first time buyer need?

Typically, anyone purchasing a home should have at least a 10% deposit. For example, if the home you want to buy costs £250,000, you should have a deposit of £25,000. Check out our guide here to learn more about what deposit you need for a home and how to save for it.

How much can first time buyers borrow?

The amount you can borrow as a first-time buyer is entirely dependent on your personal circumstances. The following factors will influence how much you can borrow:

How to find the best first time buyer mortgages

There are a huge selection of mortgage options for first time buyers and it can be overwhelming to start with. 

Alongside the pressures of saving for a deposit and offering on a home, finding the best mortgages for first-time buyers can be difficult, especially with all of the jargon.

You can find a first-time mortgage and apply for it yourself, but it’s a big process that many people need someone to guide them through, which is why many people use a mortgage broker. You can learn more about what a mortgage broker is and how they can help you by clicking here.

Sett Mortgages is ready to walk you through the home-buying process and make it as simple as possible. We’ve worked with first-time buyers for years and are ready to assist you. We can assist you in finding the best lenders for first-time home buyers at the time, as well as in all other aspects of buying your first house, such as support with insurance policies.

Contact us today for expert help for first time buyers and to begin your property-buying journey.


Your home may be repossessed if you do not keep up repayments on your mortgage.