First-Time Buyers: Big Mortgage Changes

If you’re planning to buy your first home, the latest government changes could make a real difference.

The Chancellor has announced a package of new measures to support first-time buyers, aiming to make it easier to secure a mortgage, borrow slightly more, and buy with a smaller deposit. These changes are already being welcomed by lenders and are expected to unlock thousands of extra mortgage approvals in the year ahead.

So, what’s new?

Key points at a glance:
– Minimum income thresholds have been lowered — now £30,000 for individual buyers or £50,000 combined for joint applications
– Lenders can now offer more mortgages at over 4.5× income
– Government-backed 95% mortgage scheme made permanent, allowing first-time buyers to get on the ladder with just a 5% deposit
– Rental payment history can now be considered by lenders as part of the affordability assessment

What does this mean for you?
If you’ve been renting for a while, saving for a deposit and feeling like homeownership is just out of reach, this could be your moment. Being able to borrow slightly more — especially with a smaller deposit — might make the difference between being ready now or having to wait another year. And if you’ve been consistently paying your rent on time, it’s a big plus that this can now be taken into account. Getting up-to-date mortgage advice now could mean you can afford more than you think.

Support every step of the way
Buying your first home can feel overwhelming, but it doesn’t have to be. We regularly receive fantastic feedback from first-time buyers on Trustpilot, with many highlighting how supported they felt from start to finish. Whether it’s your first viewing or you’re navigating mortgage options, our team is on hand to help make the process as straightforward as possible.

We have a range of properties currently available across North Hampshire and Surrey — ideal for first-time buyers. You can browse online here, and if you see something you like, we’d be happy to talk you through the next steps.

Be the first to hear about available properties

First-time buyer-friendly homes are always in demand, so if you register with us, it’s a great way to stay one step ahead. Once you’ve signed up, we can alert you as soon as a suitable property comes on the market — often before it goes live on the property portals.

If you’re unsure where to start or just have a few questions, we’re here to help. Just get in touch with the team or pop into your nearest branch.

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