Buying Your First Home – A Complete Guide for First-Time Buyers
Buying your first home is an exciting milestone. It marks the beginning of a new chapter and gives you a place to truly call your own. But for first-time buyers, the process can feel overwhelming. From mortgage jargon to hidden fees, navigating the property ladder for the first time isn’t always straightforward.
At Orchard Mortgage Solutions, we’re here to simplify your journey. This comprehensive guide covers everything you need to know about buying your first property in the UK — from understanding what counts as a first-time buyer to choosing the right mortgage, exploring government schemes, and planning your budget.
Buying Your First Home – A Complete Guide for First-Time Buyers
Buying your first home is an exciting milestone. It marks the beginning of a new chapter and gives you a place to truly call your own. But for first-time buyers, the process can feel overwhelming. From mortgage jargon to hidden fees, navigating the property ladder for the first time isn’t always straightforward.
At Orchard Mortgage Solutions, we’re here to simplify your journey. This comprehensive guide covers everything you need to know about buying your first property in the UK — from understanding what counts as a first-time buyer to choosing the right mortgage, exploring government schemes, and planning your budget.
What Is a First-Time Buyer?
A first-time buyer is someone who has never owned or had an interest in a residential property before — in the UK or abroad. If you’ve inherited a home or your name has appeared on a property deed, you may not qualify. Also, if you’re buying with someone else, both of you must be first-time buyers to access specific benefits.
First-Time Buyer Benefits and Government Schemes
The UK government offers several incentives to make buying your first home more affordable. Here are the most important first-time buyer schemes and benefits in 2025:
✅ First-Time Buyer Stamp Duty Relief
As a first-time buyer in England or Northern Ireland, you don’t pay stamp duty on homes worth up to £425,000. For properties priced between £425,001 and £625,000, you’ll pay 5% on the amount above £425,000. Anything over £625,000 means you’re no longer eligible for first-time buyer relief.
✅ Lifetime ISA (LISA)
If you’re aged 18–39, you can open a Lifetime ISA to save for a home worth up to £450,000. You can deposit up to £4,000 a year, and the government will add a 25% bonus. That’s up to £1,000 free money every year towards your deposit.
✅ Help to Buy ISA (If Already Opened)
While new Help to Buy ISAs are closed, existing account holders can still benefit. These ISAs offer a 25% government bonus on your savings, which can be used towards your first home until 2029.
✅ Shared Ownership
With shared ownership, you buy a share of a home (usually 10% to 75%) and pay rent on the remaining portion to a housing association. It requires a smaller deposit and makes stepping onto the property ladder more achievable.
✅ First Homes Scheme
Designed for local first-time buyers and key workers, this scheme offers selected new-build homes at a discount of 30% to 50% below market value. Check eligibility and availability in your area.
Step-by-Step: Buying Your First Property
1. Know Your Budget
Start by understanding how much you can afford. Use an online mortgage calculator or speak with a mortgage advisor to get a realistic estimate. Don’t forget to factor in upfront costs, such as legal fees, surveys, and moving expenses.
2. Get a Mortgage Agreement in Principle (AIP)
An Agreement in Principle shows estate agents and sellers you’re serious. It’s a conditional offer based on your income, credit score, and financial commitments — and it strengthens your position when making an offer.
3. Start Your Property Search
Use property portals like Rightmove, Zoopla, and estate agency websites. Make a checklist of what you’re looking for — number of bedrooms, garden space, location — and start viewing homes. Be open-minded and view several properties to compare.
4. Understand Your Mortgage Options
Choosing the right mortgage as a first-time buyer is crucial. Here’s a breakdown of the main types:
- Repayment Mortgages
The most common choice. You pay off both the loan and interest monthly. By the end of the term, you’ll own your home outright. - Fixed-Rate Mortgages
Lock in your interest rate for a set period (usually 2 to 5 years), giving you predictable monthly payments. - Tracker Mortgages
These follow the Bank of England base rate, meaning your payments can go up or down. - Interest-Only Mortgages
You only pay the interest each month, with the loan balance due at the end. These are rarely offered to first-time buyers unless there’s a clear repayment plan.
At Orchard Mortgage Solutions, we compare hundreds of mortgage deals from high-street lenders and specialist providers — helping first-time buyers secure the best rates for their needs.
Factors That Affect Your Mortgage Offer
Lenders will assess your financial situation to determine how much you can borrow. Here’s what they look at:
- Your Deposit Size: A larger deposit usually gives you access to better interest rates.
- Income & Employment: You’ll need to provide payslips or tax returns if self-employed.
- Credit Score: A clean credit history increases your chances of approval and better terms.
- Existing Financial Commitments: Credit cards, loans, and car finance can affect affordability.
Additional Costs to Budget For
When buying your first home, the mortgage isn’t the only cost. Make sure to plan for:
- Solicitor/Conveyancer Fees: Legal support for the transaction
- Home Surveys: From basic mortgage valuations to full structural reports
- Mortgage Broker Fees: If you use an adviser (some don’t charge)
- Removal Costs: Van hire or professional movers
- Insurance: Buildings insurance is often mandatory; contents cover is recommended
Time to Buy Your First Home
Once your mortgage is approved and legal checks are complete, you’ll exchange contracts and agree on a completion date. On completion day, the keys are yours, and you officially become a homeowner for the first time.
It’s a moment worth celebrating — and we’re here to help you get there.
Why Choose Orchard Mortgage Solutions?
At Orchard Mortgage Solutions, we specialise in helping first-time buyers navigate the home buying process. From comparing mortgage deals to explaining every step in plain English, we make securing your first home easier and less stressful.
Whether you’re buying a flat in the city or a house in the countryside, our experienced mortgage advisers will support you every step of the way.
Ready to Start Your Journey?
Let’s make buying your first home simple.
📞 Call us today 01257 543013 to speak with one of our expert advisers
📧 Or use our contact form to arrange a no-obligation consultation
