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Buying your first home

Get moving into a home sweet home of your own

Buying your first home can be confusing but we're here to help.

Getting a mortgage and moving into your first home can be a long and daunting process especially if you're unsure of which route to take. We have a full Homebuying checklist available as well as a guide to our online mortgage application process but the details below should help you understand the process and the kind of things you need to look out for.

What are the key steps?

1.   Ask yourself some important questions

When you're embarking on the journey of buying your first home, there are a few key questions you should ask yourself. Thinking about the kind of area you'd like to live in and the type of property you'd like to purchase, will make it easier to make some decisions later in the process.

2.   Work out how much it will cost

Get a clear picture on how much your repayments might be.

  • You can use our Payment calculator to find out how much repayments might be on a potential mortgage, by entering some basic details.
  • If you are able to work out your Loan to Value you can see which of our products are suitable for you. This will make it easier to enter an indicative interest rate in the calculator.

Loan to Value: If the property value is £150,000 and your deposit is £15,000 your Loan to Value would be 90% (and your mortgage will be for £135,000)

As well as the mortgage repayments, it's also important to take into account all the other costs involved when buying a home. See our guide for a breakdown of the other fees, charges and costs that are part of the mortgage process.

3.   Find out how much we can lend you

Get an estimate on an amount to borrow.

  • Use our Borrowing calculator to work out how much we may be prepared to lend to you for a mortgage on your first property.
  • We'll ask you some details about your income and expenditure.
  • You can tell us how much you think you would need to borrow and how much you are looking to spend.

4.   Get a lending decision

The Approval in Principle (AIP) process will determine whether we would be in a position to lend you the funds to purchase a property.

  • An AIP is valid for 30 days so you can come back to complete your full application at a later date if you don't already have a property in mind.
  • Obtaining your AIP at this stage is useful if you want to start looking at properties and want the security of knowing that in principle, we will be able to lend to you.

5.   Think about mortgage products

So you've got your Approval in Principle (AIP) and found a property you want to purchase, the next stage is to look at the mortgage products available.

Check out our First Time Buyer products

Want to know more about our products? Read our guide to the types of mortgage available.

6.   The full Mortgage application

The good news is, once you've obtained an Approval in Principle, you have two options for continuing with a full application:

  1. ONLINE – If your Loan to Value (LTV) is 90% or less, you can continue online by logging into the website and selecting your application.
    Please note, an online mortgage application is done on an 'execution only' basis.

  2. BY PHONE – If you want to discuss your application or if your Loan to Value (LTV) is 95% or more, you also have the option to complete your application by calling our contact centre. Your information will be transferred to the mortgage adviser meaning you won't need to start the process again

During the full application we'll ask you to confirm further details regarding your employment and will also need to know about the property you are planning to buy.

Want to know more?

Use our Homebuyer checklist to find out about buying a home from start to finish.

We also have a full guide to our online mortgage application process.

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Mortgage calculators

Use our simple calculator tools to work out how much your repayments could be, how much we could lend to you and if an Offset mortgage could save you money.

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