First-Time Buyer Guide UK 2026
Everything You Need To Know Before Buying Your First Home
Buying your first home can feel exciting and overwhelming at the same time. With so many mortgage options, lenders and costs involved, it is important to understand the process before making any decisions.
At EPB Financial, we help first-time buyers across the UK find mortgage solutions tailored to their financial situation, budget and future plans. Whether you are just starting to save for a deposit or already searching for your first property, our advisers are here to guide you through every step of the journey.
What Deposit Do You Need?
Most mortgage lenders require a deposit before offering a mortgage. In many cases, first-time buyers need between 5% and 15% of the property value.
Generally, the bigger your deposit:
- the better your mortgage rates may be
- the lower your monthly repayments can become
- the more lenders may be willing to offer
Saving for a deposit is often the biggest challenge for first-time buyers, which is why planning ahead is essential.
Understanding Mortgage Affordability
Lenders will assess whether you can comfortably afford monthly mortgage repayments. They usually look at:
- your income
- monthly expenses
- existing credit commitments
- employment status
- credit history
Improving your credit score and reducing unnecessary debt can significantly improve your chances of mortgage approval.
Additional Costs To Consider
When buying your first property, there are additional costs beyond the deposit. These may include:
- solicitor fees
- survey costs
- mortgage arrangement fees
- moving expenses
- insurance
Understanding these costs early helps avoid unexpected surprises later in the process.
Getting Mortgage Ready
Before applying for a mortgage, it is helpful to:
- check your credit report
- organise your documents
- avoid large unnecessary purchases
- save consistently
- speak with a qualified mortgage adviser
Having the right preparation can make the mortgage application process faster and less stressful.
How EPB Financial Can Help
We compare mortgage products from a wide range of lenders to help first-time buyers secure competitive rates and suitable mortgage solutions.
Our CeMAP qualified advisers provide honest, professional and straightforward guidance tailored to your needs — helping you move forward with confidence.
Ready to take your first step onto the property ladder?
Contact EPB Financial today and speak with one of our experienced advisers.