Can I get a first time buyer mortgage with bad credit?

Yes, it’s possible, even if you’ve had missed payments, defaults, or a poor credit score. Some lenders are more flexible than others, especially if the issues were in the past or you’ve worked to rebuild your finances. As a mortgage broker in Leicester, we work with a wide panel of lenders, including those who specialise in mortgages for buyers with credit history issues. We’ll look at your full situation and help you explore realistic options.

How long does the mortgage process take for first time buyers?

Getting a mortgage offer usually takes between 2 and 6 weeks, depending on how quickly you provide documents and how fast the lender works. From offer to completion, the full buying process can take around 8 to 12 weeks. Your dedicated case handler and mortgage advisor will stay in touch with lenders, estate agents, and solicitors throughout to make sure things keep moving without unnecessary delays.

What types of mortgages are available for first time buyers?

Most first time buyers choose fixed-rate mortgages, which keep repayments steady for a set number of years. There are also tracker and variable-rate mortgages, where payments can change based on interest rates. The right type depends on how long you plan to stay in the property and how much certainty you want over your monthly budget. We’ll talk through the pros and cons so you can decide with confidence.

What should I do before applying for a mortgage?

It helps to check your credit report, avoid taking out new credit, and gather your paperwork in advance, including payslips, bank statements, proof of ID, and your deposit source.

Can I use a gifted deposit from family?

Yes, many first time buyers in Leicester use a gifted deposit from parents or relatives. The lender will usually ask for a letter confirming that the money is a gift and doesn’t need to be repaid. This is a standard part of the process, and we’ll guide you through exactly what’s needed to make sure it’s accepted without issue.

Do I need a mortgage before making an offer on a property?

You don’t need a full mortgage offer, but most estate agents will expect you to have an agreement in principle before they’ll take your offer seriously. It shows you’ve spoken to a lender or broker and know how much you’re likely to borrow. Having one in place can also speed things up once your offer is accepted.

First Time Buyer Mortgages in Leicester

How much can I borrow as a first time buyer in Leicester?

If you’re buying your first home, getting mortgage advice early on can make a real difference.

What you can borrow depends on your income, regular expenses, and how much deposit you’ve saved.

Most lenders offer around four to five times your annual income, but it varies.

We offer clear, personalised mortgage advice in Leicester to help you understand your options.

First Time Buyer Mortgage Advice in Leicester

Do I need an agreement in principle?

An agreement in principle (AIP) is a document from a lender that shows how much they might be willing to lend you, based on a basic financial check.

It’s not a full offer, but it helps estate agents take your offer seriously.

Working with a mortgage broker in Leicester like ourselves means we can secure your AIP quickly, usually within 24 hours after your initial free initial appointment.

How much deposit do I need for a mortgage as a first time buyer?

Most lenders require at least a 5% deposit, though more can unlock better rates.

Some buyers save more, while others use gifted deposits or schemes to help.

Our mortgage advisors in Leicester work closely with first-time buyers to match them with deals that fit their deposit and financial background.

Speak to an Advisor

Important information

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

There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.

First Time Buyer Mortgage FAQs

Our Customers Love Us

5.00 Rating32 Reviews

Anonymous

Very professional. Kept me informed every step of the way. Explained the mortgage application process fully. Found me another lender immediately, after my first application got rejected.

5 months ago

Anonymous

I found Moneyman to be very professional and easy to work with. They explained everything clearly, kept me informed throughout the process, and were always easy to contact. I especially appreciated the personal touch of having a video call, which...

9 months ago

Anonymous

Great and knowledgeable advisor, Leo has been helping every step of the way and was able to answer lots of questions and provide lots of advise. Highly recommend using Leicestermoneyman

9 months ago

Emma

Beyond happy with our experience with moneyman. Quick responses, helpful and friendly. Definitely went above and beyond our expectations. Wouldn’t trust anyone else. Thank-you!

9 months ago

Neil

Highly recommend Leo Shakespeare! Leo has been very helpful, approachable and informative - we will be recommending him to others who are buying a home.

10 months ago

Elizabeth

I approached moneyman with an urgent problem of remortgaging my property within a deadline of 2 months or I loose my property .I was professionally welcomed by Paula and her 2 other colleagues who gave me advice and options of what I can do ....

1 year ago

Simon

Brilliant service thank you for all your help

1 year ago

Dawid

Excellent

1 year ago

Grant

Very fast friendy service, any questions were answered throughly and quickly and the whole service from start to finish was smooth and stress free.

1 year ago

Lucy

Excellent service from start to finish! Chris kept us fully informed and answered all of our questions throughout. He took the pressure off us and was professional throughout! Highly recommend!!

1 year ago

Rebekah

Jo and Chris were extremely helpful. Got everything done so quickly!

1 year ago

Joanne

It was smooth, took all the stress of reseaching the best mortgage. Easy access to appointments. TOM was great and understanding

2 years ago

Bhaven

Very very good thank you

2 years ago

Zubair

Charlie was very easy to talk too and made things easy and simple to understand and explained our options in detail which really helped us through the process as first time buyers.

2 years ago

James

Jason and his colleagues at UK Moneyman have been amazing from the start. When we began the process of house buying and finding a mortgage we knew very little, but Jason explained much to us in a telephone consultation and outlined all our options....

2 weeks ago

Samantha

Very impressed, service was really good and efficient and anything g that needed explaining was done very clear. Would definitely recommend

2 weeks ago

Shelline

Leo Shakespeare and Stacey Jopling has work long side each other to made this entire journey extremely smooth and informative as a first time buyer. His service has been phenomenal. I had been rejected from many other brokers and banks and he...

3 months ago

Nafesa

I have been dealing with Wendy and Malcolm in regards to my house purchase and I could not recommend these enough. A true credit to the company. Very efficient with communication and solving any issues that needed to be addressed. Would highly...

5 months ago

Anonymous

Incredibly helpful, supported throughout whole process

5 months ago

Nazeef

Fantastic experience. Charlie helped me race through to secure the most suitable mortgage offer, best plan for life and critical illness insurance. Very approachable and responsive even with any queries I had after everything was completed.

6 months ago

First Time Buyer Mortgage Process

Free Initial Mortgage Appointment

Your first step is to speak with a mortgage advisor who’ll look at your income, deposit, credit history, and monthly outgoings.

From this, you’ll get an agreement in principle, which gives you a clear idea of your price range and shows sellers in Leicester that you’re serious about buying.

Make an Offer and Apply for a Mortgage

Once you’ve found a property, you can make an offer and start your full mortgage application.

Your advisor will handle this with the lender, help you prepare all the required documents, and make sure everything is submitted correctly and without delay.

Mortgage Offer and Legal Work

The lender will review your application and carry out a valuation on the property.

Once approved, they’ll issue a mortgage offer.

At the same time, your solicitor will begin the legal checks and prepare the contracts for exchange and completion.

Complete the Purchase and Get the Keys

When the legal work is done and the completion date is agreed, your lender will release the funds.

Your solicitor will transfer the money to the seller, and once that’s confirmed, you’ll be able to collect your keys and move into your first home.

Reasons to Choose Us

Free Initial Mortgage Appointment

We’ve helped loads of first time buyers in Leicester get on the property ladder, and our reviews reflect the service we’re known for: clear advice, regular updates, and no pushy sales tactics.

Whether you’re just starting to look or already have a property in mind, we’re here to make the process feel straightforward from day one.

1000s of Deals

We’re not tied to any one lender.

That means we search across the mortgage market to find deals that genuinely suit your situation, whether you’ve got a small deposit, are using a gifted deposit, or need flexibility due to your income.

We’ll compare rates, criteria, and upfront costs to find the right match for you.

Our Service

Our mortgage advisors in Leicester explain everything in plain terms, take care of the paperwork, and keep things moving behind the scenes.

You won’t be passed from one person to another; we stay with you from your first call through to completion, making sure you always know what’s happening and what comes next.

Open 7 days a Week

Getting a mortgage is just one part of buying your first home.

We’ll also help you understand the full process, including legal steps, insurance requirements, and timescales.

You’ll always have someone to speak to, chase updates with solicitors or estate agents, and make sure nothing gets missed along the way.

Malcolm and Amy Davidson - Mortgage Advice in Newcastle

We Search 1000s of First Time Buyer Mortgage Deals in Leicester

The Home Buying App

Our Home Buying App is a digital mortgage coach designed to help you save up, plan, and track your home buying journey – whether you’re buying your first home, or fancy a move.

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First Time Buyer Mortgage Advice in Leicester

First Time Buyer Mortgage Advice in Leicester

What would you like help with today?

Do you live in the property?

What best describes your current employment status?

How long have you been self-employed?

Which age bracket does the youngest applicant fall into?

Which age bracket does the youngest applicant fall into?

Please tell us more about what you are looking to achieve

Are you an existing buy to let property owner?

Where are you in the property purchase journey right now?

Do you have at least a 25% deposit available?

Will the property be bought through a limited company?

Is the limited company already set up?

Which type of insurance are you looking to take out?

Please tell us what age bracket you fall into?

Please tell us a little bit more about your situation

How can we help?

What best describes the property?

Please tell us about your current situation and why it's complicated

Where are you in the property purchase journey right now?

How would you describe your credit history?

Do you have at least a 15% deposit?

What best describes your current employment status?

How long have you been self-employed?

Which age bracket does the youngest applicant fall into?

Please provide your contact details below

Let's arrange your mortgage callback

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Thank you for your enquiry

How much can I borrow as a first time buyer in Leicester?

Do I need an agreement in principle?

How much deposit do I need for a mortgage as a first time buyer?

Important information

First Time Buyer Mortgage FAQs

Can I get a first time buyer mortgage with bad credit?

How long does the mortgage process take for first time buyers?

What types of mortgages are available for first time buyers?

What should I do before applying for a mortgage?

Can I use a gifted deposit from family?

Do I need a mortgage before making an offer on a property?

First Time Buyer Mortgage Process

Free Initial Mortgage Appointment

Make an Offer and Apply for a Mortgage

Mortgage Offer and Legal Work

Complete the Purchase and Get the Keys

Reasons to Choose Us

Free Initial Mortgage Appointment

1000s of Deals

Our Service

Open 7 days a Week

We Search 1000s of First Time Buyer Mortgage Deals in Leicester

The Home Buying App

First Time Buyer Mortgage Situations

Buying in Your Own Name as a First Time Buyer

Joint Mortgages for First Time Buyers

First Time Buyer Mortgages with Bad Credit

Self-Employed First Time Buyer Mortgages

Using a Gifted Deposit for Your First Home

Mortgages for Older First Time Buyers

Our Mortgage Guides

Our Services

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