First Time Buyers
First-Time Buyer Mortgage Specialist
Buying your first home is a big deal—exciting, yes, but also a little daunting. That’s where we come in.
At Drummonds Finance Group, we specialise in helping first-time buyers like you feel supported, informed, and confident throughout the mortgage journey. Whether you're still figuring out how much you can borrow or you’ve already found your dream home, we’re here to hold your hand every step of the way.
You can ask us anything (really—nothing is too small or silly), and you’ll always speak to someone who understands what you're going through. We’re available as much as you need us, from the first chat to the moment you get the keys in your hand.
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Your First Home Starts Here
Buying your first home is an exciting milestone, but it can also be a daunting process, especially if you don't understand how mortgages work.
As a first-time buyer, you’re navigating an entirely new world of deposits, credit checks, interest rates, and endless forms. It’s easy to feel overwhelmed and unsure where to start.
That’s where we come in.
At Drummonds Finance Group, we specialise in helping first-time buyers get onto the property ladder with expert, jargon-free mortgage advice. We will explain everything and do most of the work for you.
Based in Oxfordshire, we’ve helped countless clients in Oxford, Bicester, and across the UK secure their first mortgage with confidence, clarity, and the right deal for their needs.
No matter where you are in the UK, our entire service can be delivered via phone or video call so that you can get expert advice from the comfort of your home.
Why First-Time Buyers Choose Drummonds
We understand how big this decision is, both financially and emotionally. That's why we offer personalised, step-by-step support from the moment you first contact us until you collect your keys—and beyond.
Here’s what sets us apart:
✅ Whole-of-Market Access
We work with a panel of over 100 lenders, including major high street banks and specialist lenders. This allows us to find a mortgage that matches your specific situation, rather than trying to fit you into a one-size-fits-all product.
✅ Local Knowledge
Our team is based in Oxfordshire and knows the local property market inside out. Whether you're buying in Oxford, Bicester, Banbury, or beyond, we can provide tailored advice that considers your location.
✅ Jargon-Free Guidance
We break down complex mortgage jargon into plain English, ensuring you understand exactly what you're signing up for. We’ll explain everything from LTV (Loan-to-Value) to APR (Annual Percentage Rate) in a way that makes sense.
✅ Nationwide Service
We proudly serve clients across the entire UK. Whether in London, Manchester, Cardiff, or anywhere else, we offer a seamless mortgage advice experience by phone or video call — no need for face-to-face meetings unless you want one.
Understanding the Mortgage Process
Buying your first home is a big deal — and it’s perfectly normal to feel confused or anxious about how it all works. Here’s a basic overview of what to expect:
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Step 1: Initial Consultation
We start with a free, no-obligation chat to understand your situation: income, savings, credit history, and property goals. This helps us determine how much you can afford to borrow.
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Step 3: House Hunting
With your MIP in hand, you can start viewing properties with confidence. We’re here to support you throughout this stage, answering questions as they come up.
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Step 2: Mortgage in Principle
We’ll help you secure a Mortgage in Principle (MIP) — a document from a lender that shows how much you can borrow. Estate agents often require this before accepting an offer.
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Step 4: Full Mortgage Application
We handle the full mortgage application once you've found a property and accepted your offer. We’ll collect the paperwork, liaise with the lender, and keep things moving.
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Step 5: Offer & Completion
You’ll receive a formal mortgage offer when the lender approves your mortgage. From there, your solicitor completes the legal work, and soon after, you get the keys to your new home!
First-Time Buyer Mortgage Tips
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Get your paperwork ready: Payslips, bank statements, ID and credit reports.
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Check your credit score: Use tools like ClearScore or Experian to view your report.
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Avoid big purchases: Hold off on buying a car or taking out loans before applying.
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Use a broker: We’ll do the hard work and make sure you don’t overpay.
Real People. Real Results.
Frequently asked questions
🕒 How long does the first-time buyer process take?
From viewing a home to moving in, it typically takes 8–17 weeks. The mortgage application part alone usually takes 2–4 weeks, depending on the lender and documentation.
📈 How much can I borrow as a first-time buyer?
It depends on your income, outgoings, and credit score. Typically, lenders will offer 4.5 to 6 times your annual salary, but this varies based on your circumstances.
💰 How much deposit do I need as a first-time buyer?
Most lenders require a minimum deposit of 5% of the property’s purchase price. However, putting down 10–15% can give you access to better mortgage deals with lower interest rates.
📋 What documents do I need to apply for a mortgage?
Most lenders will ask for:
Proof of ID (passport or driving licence)
Payslips (last 3 months)
Bank statements
Proof of deposit For self-employed applicants: 2–3 years of tax year overviews and SA302s.
💬 What is a mortgage in principle?
A Mortgage in Principle (also called an Agreement in Principle or AIP) is a statement from a lender saying how much they might lend you, based on a quick financial check. It helps show estate agents and sellers that you're serious.
📉 What are the extra costs first-time buyers should budget for?
Besides your deposit, you should budget for:
Legal fees
Valuation/survey fees
Mortgage arrangement fees
Stamp Duty (if the home is over £425,000)
Moving costs
Furniture and setup costs
➡️ Ask your broker for a full breakdown of costs.
🏦 Can I get a mortgage as a first-time buyer with bad credit?
Yes, it’s possible. Some lenders specialise in helping buyers with poor credit history, missed payments, or even defaults. A mortgage broker can help you find the right lender for your situation.
🏘️ Are there government schemes to help first-time buyers?
Yes! Popular schemes include:
Shared Ownership
First Homes Scheme (discounted new builds)
Lifetime ISA (savings with a 25% government bonus)
💼 Should I use a mortgage broker as a first-time buyer?
Absolutely. A mortgage broker:
Gives you access to more lenders and deals
Helps you prepare your documents
Supports you through the entire process It’s especially helpful if you’re not sure where to start or have unique circumstances.
🔍 What is a first-time buyer?
A first-time buyer is someone who has never owned a property before, either in the UK or abroad. If you’re buying with someone else, both of you must be first-time buyers to qualify for certain schemes and exemptions.