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4 Tips to Secure Your First Mortgage

Posted by on in Mortgages
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If you’re a first-time buyer looking to buy a home this year, read on for our four top tips to secure your first mortgage.

1. Save deposit

You won’t get anywhere on the property ladder with out money for a deposit.

Deposit is key to getting yourself a mortgage. At the moment, you could get a mortgage with at least 5% of the property’s value. A larger deposit will make you less risky for mortgage lenders and as a result they’ll generally offer you more competitive deals with lower interest rates.

Take full advantage of ways to increase how much you save. For example, you could save for a deposit using a savings account such as Help to By ISA.

If you’re looking at a new build, Help to Buy Scotland can help. With a 5% deposit from you, the government can then add up to 15% of the property value on top of this.

Read our 9 First Time Buyer Money Saving Tips

2. Check credit rating

Having a nice shiny credit rating is a plus.

Even if you have a good income and large deposit, your mortgage application could still be refused if your credit rating. Missing credit card payments or not being on the electoral roll at your current address can make all the difference.

You can check out what your credit rating is by using sites such as Experian, Noddle and ClearScore.

3. Documents Ready

Having the correct documents ready could speed up your first mortgage process. These documents could include:

  • Suitable ID
  • Last 3 months payslips
  • Last 3 months bank statements

4. Speak to someone

By using a mortgage broker, they will compare hundreds of mortgage lenders and thousands of mortgage deals to see what mortgage suits your circumstances the best.

Lifetime Planning are a whole-of-market mortgage broker. We look at mortgage rates from lenders such as Halifax, Nationwide, Barclays and many more to see who has the best deal for you.

Next steps

If you’re looking for some advice of how to get started on the property ladder. Lifetime Planning advisers can help explain to you the whole process. We stay with you and hold your hand all the way until you have your key in the door.

View our infographic – 10-step plan to moving into your first home.

Speak to our expert Lifetime Planning advisers to learn how we could help with your first mortgage. You can give us a call on freephone 0800 43 53 49, This email address is being protected from spambots. You need JavaScript enabled to view it. or fill in our online enquiry form.

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Your property may be repossessed if you do not keep up repayments on your mortgage.

This firm will charge the lesser of up to £395 or 1.5% of the mortgage amount. The fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.

Lifetime Finance Group Limited trading as Lifetime Planning is an appointed representative of PRIMIS Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority.

Welcome to our latest news and blogs. Lifetime Planning offer a ‘one-stop-shop’ for your mortgage and protection needs. We’ll strive to find you the most suitable mortgage and protection solutions to meet your specific needs. Call us now on 0800 43 53 49 or email us at


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Guest Sunday, 18 April 2021