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First Time Buyer Mortgages

  • Need help getting on the housing ladder?
  • Want to avoid the mortgage pitfalls for First Time Buyers?

Bestmortgage4u will advise you on how to get in the best position to obtain a mortgage offer.

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First Time buyer mortgage surrey

First Time Buyers

If you are thinking about buying your first home you are probably finding the whole process of choosing the right mortgage and actually buying your ideal home rather daunting? So what do you need to know to get on to the first rung of the property ladder?

The first step is to contact us and we will advise you on the mortgage options available to you. In the meantime we have outlined below some background information on mortgages for First Time Buyers that we hope you will find useful.

How much can you borrow?

The amount of mortgage you can get depends on your income. Income multiples do vary. As a rough guide, a typical multiple is four times your income. This figure could be higher or lower depending upon your individual circumstances and different lenders’ criteria. Some lenders do not use income multiples at all and will lend based on affordability. Once you add to this the amount that you can afford to pay as a deposit, you have the amount you can pay for your first property. Some lenders offer very good deals for First Time Buyers, so it is always worth asking us to research the market on your behalf.

Any other costs?

It is also worth remembering the additional costs on top of your deposit and mortgage that you will be expected to pay, including the possibility of an arrangement fee for the mortgage.

You pay Stamp Duty Land Tax (SDLT) on increasing portions of the property price above £300,000 when you buy residential property.

The following table explains the levels payable:

Up to £300,000 Nil
The next £200,000 (the portion from £300,001 to £500,000)  5 %
The next £425,000 (the portion from £500,001 to £925,000)  5 %
The next £575,000 (the portion from £925,001 to £1.5 million) 10 %
The remaining amount (the portion above £1.5 million) 12 %


Plus you will have to pay for the valuation and survey of the property together with solicitor’s fees.

Additional and useful information can be found on the Moving Home section.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.


A fee of £100 may be payable after an initial assessment in order to source you an appropriate mortgage. A fee from £200 is payable when we submit an application to a lender on your behalf. We will receive commission from the lender in addition to the fee you pay. We will obtain your agreement to proceed before any fees are payable. All fees are non-refundable.

Bestmortgage4U is a trading style of John Edward who is an Appointed Representative of Mortgage
Intelligence, which is authorised and regulated by the Financial Conduct Authority under number 305330 in
respect of mortgage, insurance and consumer credit mediation activities only.

We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman.
Our advice is covered under the Financial Ombudsman Service.