First Time Buyer Mortgages in Northampton

It starts with checking how much you can afford to borrow, then getting a mortgage agreement in principle.

From there, you’ll begin viewing properties and making offers.

Once you’ve had an offer accepted, the full mortgage application gets underway.

We support first time buyers in Northampton through each step so you’re never left guessing what comes next.

A credit history helps, but it’s still possible to get a mortgage with little or no credit, especially if your income is steady and you’ve got a good deposit.

Some lenders are more flexible than others, which is why working with a mortgage advisor in Northampton can make a real difference.

Yes, there are plenty of mortgage schemes available to help you buy your first home.

The Lifetime ISA lets you save up to £4,000 a year towards your first home, with a 25% government bonus added to your savings. It’s a great way to boost your deposit if you’re planning ahead.

Shared Ownership is another option, allowing you to buy a percentage of a property and pay rent on the rest. The scheme is best suited if a full mortgage isn’t affordable.

For first time buyers in Northampton, these can be great stepping stones onto the property ladder.

Yes, many first time buyers use a gifted deposit, often from a parent or close family member.

Mortgage lenders will accept gifted deposits, as long as the money is genuinely a gift and not expected to be paid back. Your solicitor will usually need confirmation of this in writing.

A mortgage broker in Northampton can talk you through how this works and what documents are needed.

Lenders need to check that you can afford the mortgage and that everything adds up financially. This means gathering a few important documents before they can process your application.

Here’s what you’ll usually need to provide:

• Proof of identity (passport or driving licence)

• Proof of address (such as a utility bill or bank statement)

• Last 3 months’ payslips (or 2–3 years’ tax returns if self employed)

• Latest P60 from your employer

• Last 3 months’ bank statements

• Evidence of your deposit (savings account statement or gifted deposit letter)

• Details of any financial commitments (credit cards, loans, etc.)

We’ll guide you through what’s needed and flag anything specific that might apply to your situation, especially if you’re self employed or have multiple income sources.

Once you’ve submitted your application, it typically takes 2 to 4 weeks to get a formal mortgage offer. This can vary depending on the lender and whether they need any extra checks.

We keep first time buyers in Northampton updated at every stage so you know what’s happening and when to expect progress.

Fixed rates give you certainty over your monthly payments, while variable rates might offer a lower initial rate but can change over time.

The best choice depends on your plans and how much flexibility you need.

Our mortgage advisors in Northampton will tailor their advice to help you weigh up the pros and cons of each option.