First Time Buyer

Getting on the property ladder is an exciting time for everyone, but is equally as daunting. As a first time buyer, it’s usually the largest financial commitment we make and you want to be sure you know what you’re doing.

How Much Can You Borrow?

This is usually first question every first time buyer has. Once you know how much you can borrow, it gives you an idea of what kind of property you can buy.

Our experts will walk you through the process, establishing what you can afford and what lenders will be prepared to lend you. We will discuss the benefits of different deposit levels on how it can alter the interest rate and recommend the most suitable term to fit your budget.

We will guide you through the different rate types before recommending the most suitable mortgage to fit your needs.


A deposit is the amount of money you put down against the property up front. Deposits are important, as the greater the deposit, the more likely you are to be accepted for a mortgage. The size of the deposit you need depends mostly on the price of the house you want to buy. There are government schemes available where you need only 5% deposits, but in most cases you need at least 10%.

Understanding Loan To Value (LTV)

The loan to value (LTV) is a percentage showing how much of the property value is covered by a mortgage.

So assuming you look at a property value of £150,000 and you have a deposit of £15,000, that’s a 10% deposit and therefore a 90% LTV.

LTV is important as many lenders will offer better interest rates for lower LTVs (a smaller loan against the value of the property). This is because for the lender, the risk is lower as they’re putting less money forward against the total value of the property.

Interest rates are often set in brackets. So for a 90-95% LTV you will be offered a higher interest rate. This interest rate will be lower for the 80-89% LTV bracket, lower again for the 70-79% LTV and so on.

Progressing Your Purchase

We will continue to liase with the lender to ensure a mortgage offer is issued within a suitable time frame. Or case handlers wil happily liase with the Estate Agent and your Conveyancer where required and ensure the process is as smooth as possible for you right to completion.

Dan Churchouse
Dan Churchouse
We used Regal for our recently completed house purchase. The mortgage was a relatively complex arrangement given it consisted of two parts (a result of porting over the terms of an existing mortgage and adding additional debt on new terms) but Matthew Graves and Kirsti Newman were very clear in their articulation, making it easily digestible and allowing me to factor into monthly affordability. They were also speedy in their responses and clearly not biased to any one provider. I feel safe in the knowledge that I ended up with the best deal available and would highly recommend their services.
Taylor Joanne
Taylor Joanne
Excellent and professional service. Everything was handled and dealt with quickly.
Sue Vecchione
Sue Vecchione
Well worth the fee. Mortgage sorted in less than 48 hours. Fantastic service with great communication. Much recommended 😀
Harry Jackson
Harry Jackson
Matthew, Kirsti and Katie were all really helpful. Made sure that, as first time buyers, we understood everything that was going on and were always there to help if we needed them to. 100% would recommend you use them!
Michael Clarke
Michael Clarke
Karen and Kirsti have been invaluable in helping us through the mortgage application process for our first home. We would thoroughly recommend their services - it has saved us a lot of stress! Swift and considerate guidance and support throughout the process.
Ioana Tomut
Ioana Tomut
We have worked with Karen and are extremely happy with how she handled our account. This was the second time we have attempted to buy our first house and we have worked with another mortgage advisor before. While both were excellent in terms of service and communication, Karen's suggestions for solicitors and survey were significantly cheaper to what we were quoted last time. I greatly recommend them.
R Findlay
R Findlay
Thank you very much to Richard at Regal Finance for making our first home purchase run as smoothly as possible. Richard was available to provide us advice throughout the whole process and I would highly recommend using Richard at Regal Finance Group!
Sarah Carter
Sarah Carter
Absolutely brilliant! Alwasy go over and above and feel thoroughly looked after. Highly recommend.
Joe Alsford
Joe Alsford
I can not speak highly enough of the service I received from Richard Powers at Regal. Gave excellent clear advice, continually negotiating the best deal available. Went above and beyond, fantastic to have in your corner in what can be a stressful process!
Cannot recommend Regal Finance enough! Matthew and Kirsti were amazing and completely took the stress out of the process. They were always available to answer questions and guide us through everything. I found they had access to a wider range of products than other advisors I had used in the past. I will be recommending Regal Finance Group to everyone I know!


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    The Ideal First Time Buyer

    There’s no ideal profile for a first time buyer. Typically lenders will want you to have a regular income, a good credit history and deposit in excess of 10% of the property value. Lenders are looking to minimise their risk. So anything that displays that you are going to pay regularly and that lending to you would be a good investment, it makes you an ideal applicant. We are here to help you obtain a mortgage that’s best suited to your individual circumstances, regardless of whether you are deemed a bad credit first time buyer.

    Government Schemes

    If you’re struggling to raise a large enough deposit for the property you want, there are Government schemes available. The Help-to-Buy scheme allows you to buy a house with just a 5% deposit. Additionally, Key Worker Mortgages are available for Government workers who qualify, typically teachers, doctors and members of the armed forces.

    Shared Ownership

    Shared ownership can also help you get a foot on the property ladder if you’re struggling for a deposit. Shared ownership helps first time buyers buy letting them buy a percentage of a property, with the remainder owned by either the developer or housing association. You own a percentage of the property, so should it increase in value, the value of your stake increases too.

    Get A Mortgage With Regal in 3 Easy Steps


    Step 1

    Complete an enquiry form and an advisor will call you back.


    Step 2

    Send us the documents we need.


    Step 3

    Receive a Decision in Principle from one of our lending panel.

    Got A Question? Get In Touch