First Time Buyer FAQs

How much deposit do I need?

This depends on your circumstances. You need a minimum of 5% deposit but the more you have the better your rate will be.

How long does it take to buy a house from start to finish?

This depends on so many different factors. From purchase chain, delays on local searches, how busy the market is and whether your house is being built. It’s best to talk about target completion days with the seller before you make an offer

How much can I borrow?

Again, this depends on your circumstances and how much you can afford to pay every month. A good rule of thumb is normally around 4.5 times your annual income.

When do I need to send my deposit?

You’ll need to send your deposit at the point you exchange your contracts. Your solicitor will handle this for you. By this point you will have made an offer on the house, searches will have been conducted and you’ll have received your mortgage offer, all of which can take a couple of months. Obviously the timeframe can vary case by case.

If you’re a First Time Buyer and you have any questions then just get in touch with one of our Advisers who can talk you through the process.