First Time Buyer Mortgages in London
Mortgage advice for first time buyers across London, from flats in the zones to homes in the outer boroughs.
Plain-English guidance
We explain each step so you know what to expect
Your plans, your budget
Advice based on your income, deposit and goals
Support to completion
We stay in touch from first call to getting the keys
Buying your first home in London usually means a larger deposit and a bigger mortgage than elsewhere, so careful planning matters. Prices and lender attitudes vary from one postcode to the next, and most first homes in the capital are flats.
We explain what lenders look at, how much you could borrow, and what to prepare, so you can search with realistic expectations.
Buying your first home in London
Most London first time buyers buy a leasehold flat. The remaining length of the lease, the ground rent and the service charge all affect what a lender will agree, and many lenders have a minimum remaining lease length. On some taller buildings a lender may ask for a fire safety form known as an EWS1, so it is important to ask about this at an early stage.
Because prices are high, many buyers look at shared ownership, buy with friends or family, or buy further out and rely on the Elizabeth line and other rail links. If you are buying jointly, the way the home is owned and how each person’s income is counted can matter, so we explain these points before you apply. We also help you plan for costs beyond the deposit, including legal fees, a survey and any tax due on the purchase.
How it works
Initial conversation
We talk about your plans, income and deposit.
Your options explained
We explain the mortgages that may suit you, and what we would recommend.
Agreement in principle
A lender gives an early indication of what it may lend. This can involve a credit check.
Find your home
You find a property and your offer is accepted.
Full application
We help you complete the application and provide the documents the lender needs.
Valuation, legal work and offer
The lender values the property and your solicitor carries out the legal work.
Completion
Funds are released and you collect your keys.
For the full guide, see our First Time Buyers page.
Frequently asked questions
What is an EWS1 form and do I need one?
An EWS1 is a form confirming the fire safety of a building’s external walls. Some lenders ask for one on taller blocks or those with certain cladding. Whether you need one depends on the building and the lender, so ask early.
Can I buy a London flat with friends?
Many lenders allow joint purchases between friends or family, with their own rules on how many people can be on the mortgage. There are legal and financial points to consider, so it is worth taking advice first.
How much deposit do I need?
It depends on the lender and the mortgage. Generally, a larger deposit gives you more choice, but some lenders accept smaller deposits. We will look at your position and explain what may be possible.
Can I get a mortgage if I am self-employed?
Many lenders will consider self-employed applicants. They usually ask for accounts or tax records covering recent years, and each lender looks at your income in its own way.
Important information
- Your home may be repossessed if you do not keep up repayments on your mortgage.
The information on this page is general and is not advice. Advice depends on your personal circumstances.
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