How we help first-time buyers
Modern Mortgage Solutions supports first-time buyers and can explain deposit requirements, affordability checks, and the application process. We take time to understand your goals, circumstances and finances - no jargon, no pressure.
- Talking through your budget, deposit and timescales before you start viewing
- Explaining how lenders assess affordability and what they will ask for
- Arranging an agreement in principle when you are ready to make offers
- Handling the application, liaising with the lender and keeping you updated
- Explaining protection options so your new home and family are looked after
Things to think about early
Your deposit
How much deposit you need depends on the lender, the property and your circumstances. Lenders will also want to know where your deposit comes from, for example savings or a gift from family. A gifted deposit usually needs a signed letter from the person giving it.
Your credit file
Lenders check your credit history. It is worth checking your own credit file early, making sure you are on the electoral roll at your current address, and correcting any mistakes.
Your other costs
Remember to budget for legal fees, surveys, moving costs and any Stamp Duty Land Tax. Our homepage has a Stamp Duty calculator that estimates SDLT for residential purchases in England and Northern Ireland. Use this as a guide only and confirm the exact tax due with your conveyancer or HMRC.
How it works
- Initial consultationWe take time to understand your goals, circumstances, and finances - no jargon, no pressure.
- Market searchWe look for products that suit your needs and explain the options clearly.
- ApplicationWe handle the paperwork, liaise with lenders, and keep you updated at every stage of the process.
- CompletionCollect your keys. Before your deal expires, we will contact you to discuss what options are available.
Questions first-time buyers ask
How much can I borrow?
It depends on the lender's affordability assessment of your income, outgoings, credit commitments and deposit. Read our guide How much can I borrow?, then speak to us for a personal view.
What documents will I need?
Usually proof of identity and address, proof of income, recent bank statements and evidence of your deposit. See our mortgage document checklist.
Do you charge a fee?
Fees are dependent on individual circumstances and will be payable on application. The typical fee would be £495; maximum 2% of the mortgage loan.
Please note: This information is a guide only and should not be relied on as a recommendation or advice that any particular mortgage is suitable for you. All mortgages are subject to the applicant(s) meeting the eligibility criteria of the specific lender.