First Time Buyer Mortgage & Remortgages
First Time Buyer Mortgage & Remortgages
Looking to buy your first home, secure a high loan-to-value mortgage, or remortgage on better terms? At Giles Finance, we deliver expert, independent mortgage advice designed to help you access the best residential mortgage and remortgage deals across the UK.
Whether you are a first time buyer with a small deposit, a homeowner seeking better rates, or a high net worth individual requiring bespoke lending solutions, our experienced advisers are here to secure the right mortgage for your needs.
First Time Buyer Mortgages – Up to 95% Loan to Value (LTV)
Buying your first home is one of the most important financial decisions you will ever make. At Giles Finance, we specialise in helping first time buyers secure competitive mortgages — including high loan-to-value products of up to 95% LTV.
This means you may be able to buy your home with as little as a 5% deposit, subject to lender criteria.
Our advisers will guide you through:
- First time buyer mortgage applications
- 95% LTV and low-deposit mortgages
- Government-backed and lender-supported schemes
- Affordability assessments
- Credit profile improvement strategies
- Mortgage offers in principle
- End-to-end application support
We simplify the process, remove uncertainty, and ensure you enter homeownership with clarity, confidence, and financial security.
Residential Mortgages Tailored to You: Every borrower is different. That is why we take a personalised approach to residential mortgage advice.
We help clients secure mortgages for:
- Employed and self-employed applicants
- Contractors and professionals
- Complex income structures
- Multiple income streams
- Applicants with historic credit issues
- High earning professionals
With access to leading UK lenders and specialist providers, we source residential mortgage products that align with your financial goals — not generic, one-size-fits-all solutions.
High Net Worth & Bespoke Mortgage Solutions
Giles Finance is trusted by professionals, executives, business owners, and investors who require high-value and bespoke mortgage facilities.
We provide specialist mortgage solutions for:
- High net worth individuals
- High-value property purchases
- Complex asset portfolios
- Overseas income earners
- Company directors and entrepreneurs
Where we advise: we arrange first-time buyer mortgages and remortgages for clients across England and Wales, working from our offices in Rainham, Dagenham, Putney and Willenhall. See areas we cover for the postcodes each office serves.
More on residential lending: our Residential Mortgage Hub gathers every guide, calculator and service page on first-time buyers, remortgages, self-employed applicants, adverse credit and larger loans.
What your deposit size means for a first-time buyer mortgage
The size of your deposit sets the loan-to-value (LTV), and the LTV band decides how many lenders and products are open to you. Moving up a band — even by a few thousand pounds — can widen the choice considerably.
| Deposit | Loan-to-value | What to expect |
|---|---|---|
| 5% | 95% | A smaller choice of lenders, stricter affordability and credit checks, and usually property type restrictions (many lenders exclude new-build flats at 95%). |
| 10% | 90% | Most mainstream lenders available; new-build houses widely accepted. |
| 15% | 85% | Noticeably wider product range; better pricing tiers start to open up. |
| 25% or more | 75% or lower | The full market, including the lowest-priced products. |
Most lenders cap borrowing at around 4 to 4.5 times household income, with some offering up to 5 or 5.5 times for higher earners and certain professions. A Lifetime ISA adds a 25% government bonus (up to £1,000 a year) on savings used to buy a first home worth up to £450,000, and gifted deposits from family are accepted by most lenders with a signed gift letter.
Criteria are indicative only, correct as at 2 October 2026, and vary by lender.
Worked example: how much can a first-time buyer couple borrow?
A couple in Essex earn £38,000 and £32,000 a year and have saved £20,000.
| Combined income | £70,000 |
| Borrowing at 4.5 times income | £315,000 |
| Deposit | £20,000 |
| Maximum purchase price | c. £335,000 |
| Loan-to-value | c. 94% — a 95% LTV product is needed |
| Stamp duty with first-time buyer relief | £1,750 (nothing on the first £300,000, 5% on the remaining £35,000) |
The final figure depends on each lender’s affordability model — committed spending, childcare, student loans and car finance all reduce it — which is why we run the numbers across a range of lenders before you start viewing. Saving a further £14,000 would take the couple to the 90% band and open up most of the market. You can test your own figures with our mortgage repayment calculator and stamp duty calculator.
This example is illustrative. It does not include interest rates, because the cost of your mortgage depends on your circumstances; you will receive a personalised illustration (ESIS) before you apply.
Remortgaging: when to start
If your current deal is ending, start the review about six months before the end date. Most lenders let you secure a new rate that far ahead, and if rates fall before completion we can usually switch you to the better deal. We compare a product transfer with your existing lender against a remortgage to a new lender, so you see both before deciding. If you need to raise money for home improvements while keeping a fixed rate, see secured loans and second charge mortgages.
Documents to have ready
- Photo identification and proof of address for each applicant.
- Three months’ payslips and your latest P60; or two years’ SA302s and tax year overviews if self-employed.
- Three months’ bank statements for your main current account.
- Evidence of your deposit and where it came from — savings statements, a Lifetime ISA statement, or a signed gift letter.
- For remortgages: your latest mortgage statement and redemption figure.
How the process runs
- Day 1: fact-find and affordability check across the market.
- Days 1–3: agreement in principle so you can make offers with confidence.
- Weeks 1–4 after your offer is accepted: full application, valuation and mortgage offer.
- Completion: when your conveyancer exchanges and completes — typically 8 to 12 weeks for a purchase.
More guidance is collected in our residential mortgage hub.
Last reviewed: 2 October 2026 by Dennis Galley, Operations Director & Compliance Officer at Giles Finance & Consultancy Services, authorised and regulated by the Financial Conduct Authority (FRN 726857). Residential mortgages are regulated by the Financial Conduct Authority and are arranged under the FCA’s mortgage rules. Your home may be repossessed if you do not keep up repayments on your mortgage.
Call today on 020 8088 2211 for expert mortgage advice.
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First Time Buyer Mortgage & Remortgages FAQ's
How much deposit do I need as a first-time buyer?
Most lenders require a minimum deposit of 5% to 10% of the property value, though a larger deposit generally unlocks more competitive interest rates.
What government schemes are available to first-time buyers?
Current options can include mortgage guarantee scheme products, shared ownership and Lifetime ISA savings towards a deposit; availability and eligibility change over time, so we confirm current schemes at the point of application.
How much can I borrow based on my income?
Lenders typically offer between 4 and 4.5 times gross annual income, though the exact multiple depends on the lender's affordability assessment, outgoings and credit history.
What is the difference between fixed and variable rate mortgages?
A fixed rate keeps your payment the same for an agreed period regardless of interest rate changes, while a variable or tracker rate can rise or fall in line with the lender's rate or the Bank of England base rate.
When should I start the remortgage process?
It's generally best to start reviewing remortgage options around three to six months before your current deal ends, to allow time to secure and complete a new rate without falling onto a lender's standard variable rate.
Will I need a new valuation to remortgage?
Most lenders carry out their own valuation, often a desktop or automated valuation, as part of the remortgage application to confirm the property's current value.
Can I remortgage if my circumstances have changed since my last mortgage?
Yes, though changes such as reduced income, new debts or a change in employment status may affect the amount you can borrow or the rates available, so it's worth reviewing your position early.
What fees are involved in remortgaging?
Potential costs include a valuation fee, legal fees, arrangement fee and, if leaving your current deal early, an early repayment charge; many remortgage products also offer fee-free or cashback options.
Can first-time buyers use gifted deposits?
Yes, most lenders accept gifted deposits from family members, though they will usually require a signed gifted deposit letter confirming the funds are a genuine gift and not a loan.
What happens if I don't remortgage when my fixed rate ends?
If no new deal is arranged, your mortgage will typically move onto the lender's standard variable rate, which is usually higher, so reviewing your options ahead of the deadline can help avoid unnecessary cost.
Does Giles Finance arrange complex first charge residential mortgages?
Yes - alongside first-time buyer and standard remortgage cases, our advisers regularly place complex first charge residential mortgages, including cases involving non-standard or multiple income sources, adverse credit history, later-life borrowing and self-employed applicants that many mainstream lenders decline. As a whole-of-market, FCA-authorised broker we can search specialist lenders as well as the high street to find a workable solution.
Does Giles Finance only advise clients in London?
Giles Finance is based in London, but as a whole-of-market broker we arrange mortgages and specialist property finance for clients across major cities in England and Wales, including Birmingham, Manchester, Leeds, Bristol, Liverpool, Cardiff and Swansea, as well as throughout Greater London and the South East.