How Hard Is It to Get a Mortgage as a First-Time Buyer?

Being a first-time buyer is not, on its own, what makes a mortgage hard to get. What matters is your deposit, your income against your outgoings, your credit file and the property you are buying. Lenders must also check you could still afford the repayments if rates rose, which is why it feels harder than it used to.

Nobody can promise you a yes — not us, and not a broker. But most of what a lender looks at is something you can see in advance and work on.

What lenders look at

Every lender sets its own criteria. But they are all asking versions of the same five questions.

1. How much deposit do you have?

The deposit is the part of the price you pay yourself. The mortgage covers the rest. Lenders call this the loan-to-value: put down 10% and you need a 90% loan-to-value mortgage.

A bigger deposit means the lender risks less of its own money, and it usually opens up better deals.

A small deposit is not a dead end. Since July 2025 the government's permanent Mortgage Guarantee Scheme has backed lenders that offer 91–95% loan-to-value mortgages. That means eligible first-time buyers and home movers can buy with a deposit as small as 5%. You still have to pass the lender's own checks.

2. Can you afford the repayments — now and later?

Lenders must check you can afford the repayments. They weigh what comes in, your income, against what goes out: loans and credit cards, plus everyday costs such as bills, insurance and council tax.

Expect to be asked for:

• proof of your income
• recent bank statements
• proof of where your deposit is coming from

Some lenders will also ask what rent you have been paying.

Then there is the stress test. If the fixed rate on your mortgage lasts less than five years, the lender must check you could still afford the payments if interest rates went up.

There is no single income multiple. You can typically borrow a multiple of your household income, shaped by your credit score, and each lender sets its own. What does exist is a cap across the market: the Bank of England limits mortgages at 4.5 times income or more to 15% of all new mortgages. Bigger multiples are out there, but they are rationed.

3. What does your credit file say?

Your credit history affects whether you are accepted and which deals you are offered. Lenders read it through the credit reference agencies. The three main ones in the UK are Equifax, Experian and TransUnion, and you can ask each of them for your credit file free of charge.

Check all three before you apply, not after a refusal. If something is wrong — a payment marked as missed that wasn't, an old address, electoral roll details that are missing — raise it with the agency that holds the record.

4. How do you earn your money?

Payslips are the usual proof for employees. If you are self-employed, you may be asked for your SA302 tax calculations from HMRC. You can download them for the last four years once your Self Assessment return is in.

Self-employment, a low credit score or other unusual circumstances can narrow the range of mortgages open to you. That is when advice from a mortgage broker is most useful.

5. Will the lender lend on this property?

The lender values the home to check it is happy to lend against it. That valuation is for the lender, not for you. It is not a survey, it does not protect you if something is wrong with the property, and it may not involve anyone visiting.

If the valuation comes in below the price you agreed, the lender may lend less, and you would usually need to cover the gap or renegotiate. Some homes can be harder to lend on too — for example a flat with a short lease, or a house of unusual construction. Your conveyancer picks these up in the legal checks, which is one reason to instruct one early.

Why it feels so hard to get a mortgage now

It is not just you. Three things make it harder than it was.

• Prices are high against pay. In 2025 the typical home in England cost 7.6 times typical full-time earnings, and in London 10.6 times, according to the Office for National Statistics. That is actually better than the 2021 peak, because pay has risen faster than prices since. It still leaves a big gap for a deposit and a loan to cover.
• The stress test. When rates are expected to rise, the test payment rises with them, and the amount a lender will offer on the same income can fall.
• Everyday costs count against you. If your spending has gone up with the cost of living, that can reduce what lenders are prepared to lend.

Each of these is worked out on your own numbers. That is why preparation makes a difference.

How to give yourself the best chance

1. Check your credit files with all three agencies, and get mistakes fixed before you apply.
2. Pay down what you can. Monthly repayments on cards and loans are counted against what you can borrow, so clearing debts before you apply can help.
3. Gather your paperwork early. ID, payslips or SA302s, recent bank statements, proof of your deposit — and, if family are helping, confirmation that the money is a gift.
4. Get a decision in principle. This is a written estimate from a lender of what you could borrow. It gives you a budget and shows sellers you are serious. It is not a mortgage offer.
5. Talk to a qualified mortgage broker. A broker can match your circumstances to lenders' criteria. Some charge a fee, so ask up front, and check they are on the FCA's register before you go ahead. For free guidance and an affordability calculator, use MoneyHelper.

A word on us: we are solicitors, not mortgage advisers. We do not recommend lenders or mortgage products. We come in once you have found the home and applied for the mortgage.

Once you have a mortgage offer: what your solicitor does

Part of a conveyancer's job, if you have a mortgage, is making sure the purchase meets your lender's requirements. In practice that means:

• Acting for your lender as well as you. Often your lender asks the same solicitor to act for it too. Where it does, we check the title, the searches and any lease against the lender's rules, and report anything it needs to know before it releases the money.
• Checking where your money comes from. Anti-money-laundering law requires us to look at the source of funds — your savings, and any gift. If family are helping, the lender will usually want details of the gift and confirmation it is not a loan. Our guide to gifted deposits for first-time buyers explains what to expect.
• Lifetime ISA money. You can use it for a first home costing £450,000 or less, bought with a mortgage, at least 12 months after your first payment in. The ISA provider pays the money straight to your conveyancer. Take it out any other way and there is a 25% charge.
• Timing exchange. You should not exchange contracts until your lender has confirmed your mortgage and you can pay the deposit. Once contracts are exchanged, you are legally committed.
• Watching the clock. Mortgage offers usually last only a limited time. Tell us the expiry date on day one. If the chain slows down, that is the time to ask about an extension, not the week the offer runs out.

Our residential conveyancing service gives you a written fixed quote before work starts and a named solicitor from start to finish.

Questions people ask

How hard is it to get a mortgage in the UK?

Harder than a few years ago, but it is mostly a question of numbers, not luck. Lenders check your deposit, your income against your outgoings, your credit file, how you earn and the property. They must also check you could cope if rates rose. If one of those is weak, a broker can look for lenders whose criteria fit.

Is it easy to get a mortgage?

With a steady income, a reasonable deposit and a clean credit file, it is mostly paperwork. It gets harder with a small deposit, self-employed or irregular income, existing debts or missed payments on your file. Nobody can guarantee approval, but each of those can be worked on before you apply.

Why is it so hard to get a mortgage now?

Mostly arithmetic. In 2025 the typical home in England cost 7.6 times typical full-time earnings, according to the ONS. Lenders must stress-test shorter fixed rates against higher future rates. And a higher cost of living counts against your budget. Loans at 4.5 times income or more are also rationed across the market.

How hard is it to get approved for a mortgage?

Approval comes in stages. A decision in principle is a written estimate of what a lender might lend. The full application then checks your income, bank statements, deposit and credit file, and the lender values the property. Only after all that do you get a formal mortgage offer, which is what your solicitor works from.

What are my chances of getting a mortgage?

No one can give you a percentage, and be wary of anyone who does. The quickest honest answer is a decision in principle from a lender, or a conversation with a qualified mortgage broker who can match your circumstances to lenders' criteria. Checking your three credit files first means fewer surprises.

Is it hard to get a home loan or a mortgage loan?

"Home loan" and "mortgage loan" are other names for a mortgage, so the answer is the same. The lender looks at your deposit, whether you can afford the repayments, your credit history, how you earn and the property. In the UK, the same affordability checks apply whatever the loan is called.

Is it harder for first-time buyers?

Not in itself. The same checks apply to everyone. Where first-time buyers often struggle is the deposit, and two government schemes help there. The Mortgage Guarantee Scheme supports mortgages with a deposit as small as 5% for eligible buyers. A Lifetime ISA adds a 25% government bonus, up to £1,000 a year.

Can a solicitor help me get a mortgage?

Not with choosing one. Recommending a mortgage is a job for a qualified mortgage adviser or broker. A solicitor comes in after you have an offer: checking the property meets your lender's requirements, dealing with the lender, verifying your deposit and any gift, and making sure the money arrives in time for completion.

Sources

Affordability checks and stress tests (FCA): fca.org.uk/consumers/affording-mortgage

Checking a broker is authorised (FCA): fca.org.uk/firms/financial-services-register

How to buy a home (GOV.UK): gov.uk/government/publications/how-to-buy-a-home/how-to-buy

Preparing to buy (GOV.UK): gov.uk/buying-a-home/preparing-to-buy

Mortgage Guarantee Scheme (HM Treasury): gov.uk/government/publications/2025-mortgage-guarantee-scheme

Loan-to-income limit (Bank of England): bankofengland.co.uk/prudential-regulation/publication/2025/july/pra-review-of-the-lti-flow-limit-rule-and-offers-interim-mbc-statement

House prices and earnings (ONS, March 2026): ons.gov.uk/peoplepopulationandcommunity/housing/bulletins/housingaffordabilityinenglandandwales/latest

Your credit file (ICO): ico.org.uk/for-the-public/credit/

SA302 tax calculations (GOV.UK): gov.uk/sa302-tax-calculation

Lifetime ISA (GOV.UK): gov.uk/lifetime-isa

Free mortgage guidance: moneyhelper.org.uk

This is general information, not mortgage or financial advice. For advice on borrowing, speak to a qualified mortgage adviser. For the legal side of your purchase, speak to us.