ASK ALANMORTGAGES
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First-Time Buyers · The whole journey, in plain English

Your first mortgage. Without the panic.

I will explain every stage before it happens. No surprises, no jargon, no 'the lender needs another bank statement by Tuesday' panic. Just an eight-step process that ends with keys in your hand.

Initial consultations are completely free of charge. There's no obligation to proceed and our broker fee of £495 will only become payable if we proceed to a full application.

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

In brief
  • Working out what you can actually borrow
  • Weighing up deposit, product type and fees together
  • Government and lender schemes, what you might qualify for
  • Self-employed first-time buyers (often refused by banks)
  • Holding your hand from offer to keys, without overwhelming you
The whole process

From first call to keys in your hand. Eight stages.

The bit nobody tells you: these stages are mainly short and uneventful. The whole thing typically takes 12–16 weeks. Here's exactly what happens.

01
30 mins
Free first call
You tell me your situation, your savings, your income, your timeline. I tell you roughly what you can borrow, what your monthly payment looks like, and what to do next. No paperwork, no commitment.
02
48 hours
Affordability + product search
I run real lender criteria across the panel. You get a written summary: three or four lender options, the rate, the fee, the LTV band, the deposit needed. Plain English.
03
1 week
Decision in Principle (DIP)
A soft credit check that proves to estate agents you are a real buyer. Agents generally won't take you seriously without one. Valid for 90 days.
04
Variable
Find a property and have your offer accepted
This is the hard part, and the bit I cannot do for you. Tip: when you find one, tell the agent your DIP is from Ask Alan Mortgages and your full application is ready to fire. Agents prefer offers that won't collapse.
05
1 week
Full mortgage application
Now we apply formally. Hard credit search, full underwriting, document upload. I package the application the way each lender wants it. Clean cases often get an offer in 7–14 days.
06
2 weeks
Survey + valuation
Lender values the property. You decide whether to upgrade to a HomeBuyer or full structural survey (for older or unusual properties, usually worth it). Down-valuations happen; I will negotiate with the lender or seller if so.
07
4–8 weeks
Conveyancing
Your solicitor does searches, contracts, enquiries. The slowest stage and the one I have least control over. I will recommend solicitors I trust who actually answer the phone, and I will chase weekly.
08
Day of
Exchange and complete, keys in hand
Exchange (legally committed, deposit released) and completion (money transfers, you collect keys), usually 1–2 weeks apart, sometimes same day. Champagne is encouraged.
AG
Alan's Tip
The thing first-time buyers tend to underestimate: solicitor responsiveness. The mortgage offer is the fast bit. Conveyancing is where chains break. Pick a solicitor who answers their phone, every time, I will know one for your area.
The deposit ladder

What your deposit changes.

The single biggest lever on your mortgage cost is your loan-to-value (LTV) band. Here's how the rates change as your deposit grows. £250k property, 25-year term, illustrative rates.

Deposit
LTV
What it means for your options
5%
95%
The hardest band. A smaller pool of lenders will go here, and they tend to want a clean credit profile.
10%
90%
The first meaningful step up. Noticeably more lenders become available to you.
15%
85%
A strong position. A wide choice of lenders and no premium pricing for a small deposit.
25%Sweet spot
75%
Lenders generally reserve their sharpest pricing for this level. A comfortable place to be.
40%
60%
Beyond 25%, extra deposit rarely changes much. Worth knowing before you stretch yourself.
AG
Alan's Tip
Deposit size is only one part of the picture, and a bigger deposit is not always the right call once you factor in what you want to keep back. Worth talking through before you commit your savings anywhere.
Self-employed first-time buyers

Buying your first home with self-employed income? Different rules. Different lenders.

High-street banks ask for two or three years of accounts. Specialist lenders accept one year of accounts. Some use the latest year only. Some treat retained profit as income for directors.

Self-employed mortgages, in detail
FAQs

What first-time buyers actually ask me.

For employed applicants, 4.5× your gross salary is the standard multiple, with up to 5–5.5× available for higher earners or specialist lenders. Joint applicants combine. Self-employed applicants vary more. Affordability also factors in debt, dependants, regular outgoings, these can pull the number down meaningfully.

Start with a 30-minute call. End with a real number.

What you can borrow, what your monthly looks like, what to do this week. Free, no commitment, no chase-up unless you want me to.

Book a no-obligation call

Initial consultations are completely free of charge. There's no obligation to proceed and our broker fee of £495 will only become payable if we proceed to a full application.