Do first-time buyers get better mortgage rates?

Not specifically, no. Lenders don’t offer special interest rates just because you’re a first-time buyer. Your mortgage rate depends on your credit score, deposit size and income. However, first-time buyers can access government schemes like shared ownership and the First Homes scheme to support with the purchase of a property.

Can first-time buyers get a mortgage with bad credit?

Yes, but it's more challenging and you'll likely face higher interest rates. Some specialist lenders work with people who have poor credit histories. You might need a larger deposit (15-25%) and should consider improving your credit score before applying. Check your credit report for errors and pay down existing debts to boost your chances.

Do first-time buyers need a solicitor?

Yes, you'll need a conveyancing solicitor or licensed conveyancer to handle the legal side of buying. They'll do property searches, handle contracts, and transfer the money. Learn more about what a conveyancer does here .

Can first-time buyers buy buy-to-let properties?

Technically yes, but you'd lose your first-time buyer status and benefits like stamp duty relief. Most buy-to-let mortgages also require larger deposits and higher rates. If you're considering investment property, it's usually better to buy your own home first to access the benefits.

How long does it take to buy a house as a first-time buyer?

The timeline varies hugely depending on your situation. Searching for the right home can take anywhere from 1 to 12 months - it's important to take your time and view multiple properties to find the right one. Once you've found a place, securing a mortgage typically takes 2 to 6 weeks, and the conveyancing process usually takes 8 to 16 weeks. While first-time buyers don't have a chain to worry about, other factors can slow things down - like if you're applying through government schemes, which often involve additional checks and paperwork. Read more about how long it takes to buy a home .

First-time buyer benefits and advantages

Ready to step onto the property ladder? Explore the advantages of first-time buyers here.

Last updated 27 Nov 2025

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Key takeaways

First-time buyers don't pay stamp duty on the portion of the property price up to £300,000 (England only, not Wales), potentially saving thousands compared to other buyers

Government schemes like LISA offer 25% bonuses on savings, while First Homes can provide discounts of 30-50% on property prices

Being chain-free makes you more attractive to sellers and can lead to faster completion times

What are the benefits of first-time buyers?

Being a first-time buyer comes with several valuable advantages that can save you money and make your purchase more attractive to sellers. From stamp duty savings to government schemes and faster completion times, this guide covers all the perks available to first-time buyers and shows you how to make the most of them when buying your first home.

Are you a first-time buyer?

Before we dive into the benefits, let's make sure you actually qualify as a first-time buyer. It's pretty straightforward, but worth double-checking with these questions:

Have you ever owned a house or flat before? Anywhere in the world - doesn't matter if it was your home or you rented it out.
Have you inherited a property or been given one as a gift?
Is your name currently on any property deeds?

If you (and anyone you're buying with) answered 'no' to all of these, then you're officially a first-time buyer and can access all the benefits we're about to cover.

First-time buyer benefits and advantages

Ready to step onto the property ladder? Explore the advantages of first-time buyers here.

What are the benefits of first-time buyers?

Are you a first-time buyer?

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