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

187 5 Star Reviews

Victor Abrams

I found Warren Bailey to be a very helpful and knowledgeable advisor when I discussed with him the potential options for a retirement mortgage . He had contacted me within a day of my seeking an initial conversation with him , and he reassured me there were lenders out there who would consider a mortgage paid out of pension , despite my own bank nort even talking to me as I was over 70 ! Within a couple days Warren had led me through the onboarding process , had explained what documents were needed and had found me a lender suited to my requirements. An excellent experience, and I would recommend him strongly to people looking for a retirement mortgage, and generally . Victor Abrams

15 May 2026

Julie Brake

We would have given them 20 stars. Both Warren & Lizzi have worked so hard on our behalf, in what has not been the smoothest of circumstances. They have been so professional and kept us updated. Would thoroughly recommend this company. With grateful thanks in getting us our mortgage.

12 May 2026

Abdul khaliq Mayar

I would highly recommend UK Money Man, especially Matthew Collinson and Paula. They have done an amazing job for me from start to finish. My previous mortgage broker got my application declined through TMW, and I was very stressed and worried. When I came to UK Money Man, they completely changed the game for me. Matthew was always helpful, professional, and kept me updated at every stage — even on his day off. That level of service really meant a lot to me. Paula was also fantastic and worked hard on my application. Thanks to their hard work and support, my mortgage was approved. I truly appreciate everything they have done for me and my family. I would definitely recommend Matthew, Paula, and UK Money Man to anyone looking for a reliable and supportive mortgage broker.

11 May 2026

Flc

Amazing company! Used them many times since 2018 and always a high standard of service! Would definitely recommend!

5 May 2026

William Thompson

I would like to say Thankyou to Jonathan and Dan for giving me an easy experience in sorting out my equity release.They were polite,friendly and very professional in their duties,and they made everything as easy as possible for me

29 Apr 2026

Yasir Noori

The team at UK Moneyman, especially Stacey Waudby and Matt Collinson, were fantastic. They have been really helpful throughout the process and in keeping me in the loop, with any update regarding the application

16 Apr 2026

Janiene Walton

Great service, very professional and I felt my adviser really was interested in helping me get the best deal for a repayment mortgage for my age group.

29 Mar 2026

Andrea McLaren

What a fantastic team. Can’t recommend them highly enough. Warren and Johnathan were so professional and so easy to talk and explain things to. Everything about my remortgage went smoothly thanks to them. I will certainly be recommending them to friends and family. Thank you guys for all of your help, couldn’t have done it without you.

20 Mar 2026

Paul PI

UK Moneyman provide an excellent service, in my case with complex conveyancing. Simple upload of documents, excellent comms and friendly. They took time to understand my needs and to explain options and prov8de illustrations of what I was agreeing to. Fee was reasonable and transparent with no hidden traos or surprises. When things were not quite going as expected (loan provider not UK moneyman this was sorted quickly and efficiently. I would thoroughly reccomend them if you are looking for a mortgage, especially if what you need is not quite standard. Warren and Lizzy did the work, thankyou both...

19 Mar 2026

Craig Butler

I had a great experience working with Leo and Jo as my mortgage brokers. As a first-time buyer, the whole process felt quite daunting at the start, but they provided clear and helpful information from day one, which really put me at ease. They were always quick to respond to my emails and kept everything moving smoothly, regularly following up and making sure nothing was missed. A special mention to the moment they called to let me know my mortgage offer had been approved. It made the whole experience feel exciting and personal, rather than just transactional. I’d definitely recommend Leo and Jo to anyone, especially if you’re a first-time buyer looking for guidance and support throughout the process.

18 Mar 2026

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

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

Do I need an agreement in principle?