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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
First-Time Buyer Advice From Our Team
Our team live and work locally. We know the city and the wider county, from Mickleover and Littleover to Belper, Ashbourne and Chesterfield.
We search lenders across the market for a deal that suits you. We also help first-time buyers across Nottingham, Leicester and the rest of the UK, in person, by phone or by video call.
Ways to Buy Your First Home
Fixed rate
Your rate stays the same for a set time, often 2 or 5 years, so you know what you pay each month.
Tracker or variable
Your rate can go up or down with Bank Rate or the lender’s own rate. The starting rate may be lower.
Shared ownership
Buy a share of a home, often 10% to 75%, and pay rent on the rest. You can buy more shares later.
95% mortgages
The government Freedom to Buy scheme helps lenders offer 95% mortgages on homes up to £600,000.
Lifetime ISA
Save up to £4,000 a year and get a 25% government bonus towards your first home.
Help from family
A gifted deposit or a joint borrower sole proprietor mortgage can help. We explain what lenders need.
Want to Know What You Could Borrow?
Use our calculator for a first idea, or call us for a quick chat.
Are You Ready to Buy?
You could be ready if
- You have saved a deposit of at least 5%
- Your income is steady and you can show it
- You have money for fees, surveys and moving
- You know how long you plan to stay
Things to think about
- A bigger deposit can get you a lower rate
- Missed payments on your credit file can limit your choice
- Budget for solicitor fees, a survey and moving costs
- Your rate could change when your deal ends
How It Works
Get in touch
Call us or send an enquiry with a few details about your deposit, income and plans.
First chat
We explain what is realistic, answer your questions and list the documents you need.
Mortgage in principle
We compare lenders and get a mortgage in principle so you can start house-hunting.
Application to completion
We handle the paperwork and the lender, and keep you updated until you get the keys.
More Help for First-Time Buyers
Why Choose Mortgage & Finance Arena
Local advisers
Our team live and work locally and know the local market.
Whole of market
We compare lenders across the market, not just one bank.
Plain English
We explain each step so you always know what happens next.
Complex cases welcome
Poor credit or self-employed? We know which lenders can help.
We handle the paperwork
We deal with the lender and keep you updated until completion.
FCA regulated
Mortgage & Finance Arena Ltd is authorised and regulated by the FCA (No. 706676).
First-Time Buyer Mortgage FAQs
Most lenders offer around 4 to 4.5 times your yearly income. Some offer more for certain jobs or higher earners. Try our borrowing calculator for a first idea.
Some lenders accept a 5% deposit. A deposit of 10% to 15% or more usually gets you lower rates and more choice.
In England, first-time buyers pay no stamp duty on the first £300,000. On a home costing up to £500,000, you pay 5% on the part above £300,000. Homes over £500,000 do not get the relief.
Plan for solicitor fees, a survey, any lender fees and moving costs. We can get you quotes for legal work and surveys.
Often, yes. Some lenders accept missed payments, defaults or CCJs, depending on when they happened. Read more about poor credit mortgages.
Help includes the Lifetime ISA, shared ownership and the Freedom to Buy scheme for 95% mortgages. Family can also help with a joint borrower sole proprietor mortgage. We explain which could work for you.
A bank can only offer its own deals. We compare lenders across the market and handle the application for you.
Ready to Talk?
Tell us about your plans and one of our team will call you back.
Your home may be repossessed if you do not keep up repayments on your mortgage. Mortgage & Finance Arena Ltd is authorised and regulated by the Financial Conduct Authority (FCA No. 706676).
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Honest opinions from people like you
There simply are no superlatives sufficient to thank you for your fantastic service! I would highly recommend mortgage and finance area to any of my friends or family looking for a mortgage. You’ve made our dreams come true! The team go above and beyond to make everything so easy.
The advice and financial services I have recently had from Charlotte at Morgage And Finance Ltd in Derby has been first class. Very professional, helpful, efficient and supportive. I wholeheartedly recommend them.
Suzanne and Charlotte were amazing and made the process of buying our first home completely stress-free for us. They were both on hand if we ever had any problems/questions and always responded with knowledgeable and completely honest answers. I would highly recommend.
If I could rate this company more than 5 stars I would. I cannot fault the service and support my partner and I have received whilst getting our first mortgage together. Ian and Megan have been amazing, making the process completely stress free. They were both on hand if we ever had any questions. I would highly recommend. Thank you!
There simply are no superlatives sufficient to thank you for your fantastic service! I would highly recommend mortgage and finance arena to any of my friends or family looking for a mortgage. You’ve made our dreams come true! The team go above and beyond to make everything so easy.