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Buying your first home is a big milestone. With so many things to consider — your deposit, mortgage eligibility, and finding the right property — it can feel overwhelming. That’s where we come in, Prudell specialise in helping first-time buyers navigate the process with confidence, supporting you every step of the way until you receive the keys.
Our goal is to let you focus on the excitement of owning your first home, not the complexity behind it.
Before viewing properties, it’s important to understand your borrowing potential. We will look at:
Your income
Monthly outgoings
Credit history
Size of your deposit
We’ll help you work out your realistic affordability, so you know exactly what price range to look in.
Most first-time buyers need a minimum 5–10% deposit. We’ll also help you explore:
Lifetime ISA (LISA) bonuses
First Homes Scheme
Low-deposit 95% LTV mortgage options
Family-assisted or guarantor mortgages
These can help you buy sooner than you might expect.
A Mortgage in Principle shows estate agents that you’re a serious buyer. It gives you:
A clear borrowing estimate
Stronger negotiating power
Confidence when submitting offers
We’ll arrange this for you and explain what it means.
Now the exciting part begins!
Register with local estate agents and start viewing homes that fit your budget and lifestyle.
We’ll help you understand things like running costs, EPC ratings, leasehold vs freehold, and what to look out for during viewings.
Once you’ve found the right place, you can submit an offer through the estate agent. We’ll talk you through:
Making a competitive, yet realistic offer
Understanding what “Offer accepted subject to contract” means
What happens next
A conveyancer or solicitor handles all legal checks on the property. They will:
Carry out searches
Review contracts
Raise enquiries with the seller’s solicitor
Check lease information (if applicable)
We’ll help you choose a solicitor if you haven’t already.
With an accepted offer, you’re ready for your full mortgage application. Your lender will:
Complete a hard credit check
Review income documents
Carry out a valuation on the property
Once approved, you’ll receive your formal mortgage offer.
Before you move forward with the mortgage, it’s important to make sure your new home and finances are protected. We’ll help you understand the key types of cover, including:
Life insurance
Critical illness cover
Income protection
Building and contents insurance
We’ll assess what protection is suitable for your situation and make sure you have the right level of cover in place before completion.
Your solicitor completes all remaining checks. This includes:
Local authority searches
Water and drainage
Environmental checks
Reviewing the contract pack
Any outstanding enquiries
We’ll stay in touch throughout, so you always know where things stand.
This is the moment things become legally binding. You will need to:
Pay your deposit
Agree the completion date
Sign contracts
After the exchange of contracts, you’re legally committed to buying the property.
Your mortgage funds are transferred, and the property officially becomes yours.
You can collect your keys from the estate agent and move into your new home.
We’re here long after the move to help you plan your mortgage future.
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Get a clear idea on what you can borrow and what your monthly costs might be.
Learn about deposit options or government schemes.
We’ll handle all the paperwork.
Been declined before or worried about your credit history? We can advise.
We’ll search the market to find the best deal for you.
Below are some examples of the various types of mortgages suitable for first time buyers with a brief summary. Your Prudell adviser will explain these in more detail as many mortgage products also include many other good options and flexibility within as your circumstances may change in time.
This shows estate agents that you’re a serious buyer before you eventually proceed with getting a mortgage.
The interest rate is locked in for a set period (e.g., 2-5 years), giving payment stability.
A variable rate that can’t rise above a set limit (the cap).
Allows you to buy a portion of a property (usually between 10% and 75%) and pay rent on the remaining share.
Enables first-time buyers to borrow up to 95% of the property value with a 5% deposit.
Where a family member supports you (e.g. via savings held aside or guarantee) so you can borrow more.
Buying your first home is a major milestone — and protecting it is just as important as securing the right mortgage. Insurance protection gives you financial stability if the unexpected happens, helping you keep your home and maintain your lifestyle even during difficult times.
Building Insurance is required by mortgage lenders, and Contents Insurance is optional.
We can provide the following Insurance Protection:
Pays a tax-free lump sum if you’re diagnosed with a serious condition (e.g. cancer, stroke, heart attack).
Provides monthly income if you can’t work due to illness or injury. Very useful for first-time buyers with limited savings.
Low-cost life cover that pays a monthly income to your dependants if you die. Helpful for young families planning ahead.
Provides a lump-sum payout if you pass away. Helps ensure your partner, family, or estate can repay the mortgage.
Get a clear idea on what you can borrow and what your monthly costs might be.
Learn about deposit options or government schemes.
We’ll handle all the paperwork.
Been declined before or worried about your credit history? We can advise.
We’ll search the market to find the best deal for you.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Understand the risks of major life events before retirement and the possible financial consequences if your income were affected. This assessment will provide guidance on the appropiate insurance protection to consider.
Likelihood
Likelihood
Likelihood
Likelihood
Based on your results, you may wish to explore:
Provides a regular monthly income if you’re unable to work.
These results are illustrative and based on general statistical data. They are not a quotation or personalised advice. Suitable cover and premiums will depend on your individual circumstances and insurer underwriting. Please speak to a Prudell adviser for tailored guidance.
Explore your options in protecting your mortgage commitment.
This is an indicative estimate only. Results are based on the details you provide and typical market assumptions. Availability, terms, and costs may vary following underwriting. This calculator does not provide advice. For a personalised, FCA-compliant review, speak to Prudell.
How much can you save with a mortgage refinance?
This is for capital + interest mortgages only.
This calculator provides estimates only and does not constitute a mortgage offer or financial advice. Figures are based on the information you provide and assumptions that may change. Your actual mortgage options, interest rate, fees, and savings may differ. Speaking to a Prudell adviser will allow us to assess your circumstances and provide personalised advice.
Find the best deals on the market from over 50 lenders.
Based on your details, here are some suitable mortgage options for you.
Estimated
Monthly Repayment
Estimated
Monthly Repayment
Estimated
Monthly Repayment
Rates shown are indicative and based on current market averages. Actual rates will depend on lender criteria and individual circumstances. To get more information to see the actual products with the named lenders, compare fees properly, and learn which is best for you, get in touch with a Prudell adviser.
Sign up with our partner Dashly, and stay informed with the best rates.
Your mortgage shouldn’t be set and forgotten, many people forget this and end up overpaying. We’ll monitor it for you — and let you know when action is worth taking.
Before buying a property, see how much Stamp Duty is due.
These results should be accurate. Rates last updated on 10.12.25
Get an estimate on how much can you afford to borrow according to lenders.
This is an estimate. Final offers depend on lender criteria, credit profile and verification. Contact Prudell for an FCA-compliant assessment. This calculator uses an income multiple method (common for quick estimates).
Estimate how much you could borrow based on income.
This is an estimate. Final offers depend on lender criteria, credit profile and verification. Contact Prudell for an FCA-compliant assessment. This calculator uses an income multiple method (common for quick estimates). Use the Mortgage Affordability tool for a 'lender-style' check.
Compare repayment, Retirement Interest Only, and lifetime mortgage options to understand your monthly payments, total interest, and longer-term impact. Adjust the figures to explore how different borrowing types could affect your costs over time.
Interest-only mortgages do not repay capital.
These results are for illustration only and are based on the information entered. Actual lender terms, interest rates and compounding methods may differ. Property growth is assumed at 2.5% per year for illustration and is not guaranteed. For personalised advice and precise figures, please speak to a Prudell adviser.
First-time buyer
95
5.00
First-time buyer
90
4.40
First-time buyer
85
4.20
First-time buyer
75
4.10
New Mortgage
90
4.50
Remortgage
90
4.35
Remortgage
75
4.15
Last Updated: 18/01/26
First-time buyer
95
5.50
First-time buyer
90
5.10
New Mortgage
90
5.00
Remortgage
75
4.60
Last Updated: 18/01/26
Buy-to-Let
90
5.30
Buy-to-Let
75
5.10
Buy-to-Let
60
4.90
Last Updated: 18/01/26
Buy-to-Let
90
5.75
Buy-to-Let
75
5.35
Buy-to-Let
60
5.05
Last Updated: 18/01/26
0.12
0.30
0.55
Last Updated: 18/01/26
Note:
Low/Fee-Free
0
0
0
0
0
Higher rate, minimal upfront cost
Standard
999
0
0
0
-0.10
Typical fee buys a small discount
Premium
1495
0
0
500
-0.20
Lower rate, higher fee, cashback offsets
Last Updated: 27/01/26
Low/Fee-Free
0
0
0
0
0
Short-term flexibility
Standard
499
0
0
0
-0.05
Slightly lower rate
Incentivised
999
0
0
500
-0.10
Tracker / discounted variable
Last Updated: 27/01/26
Low/Fee-Free
0
0
0
0
0
Common for first-time buyers
Standard
999
0
0
0
-0.10
Most mainstream products
Cashback
1495
0
0
500
-0.20
Higher fee, lower rate
Last Updated: 27/01/26
Low/Fee-Free
0
0
0
0
0
Often used as short-term solution
Standard
499
0
0
0
-0.05
Discounted variable
Cashback
999
0
0
500
-0.10
Less common but exists
Last Updated: 27/01/26
Low/Fee-Free
0
0
0
0
0
Often lender-assisted switch
Standard
999
0
0
0
-0.10
Typical remortgage
Cashback
1495
0
0
500
-0.15
Cashback ≠ full rate buy-down
Last Updated: 27/01/26
Low/Fee-Free
0
0
0
0
0
Common short-term remortgage
Standard
499
0
0
0
-0.05
Discounted tracker
Cashback
999
0
0
500
-0.10
Incentivised but cautious
Last Updated: 27/01/26
Low/Fee-Free
1499
0
0
0
-0.15
Most BTL products
Standard
1999
0
0
0
-0.25
Lower rates for higher fees
Cashback
2499
0
0
500
-0.30
Portfolio / professional landlords
Last Updated: 27/01/26
Low/Fee-Free
999
0
0
0
-0.10
Tracker / SVR discount
Standard
1999
0
0
0
-0.20
Lower margin products
Cashback
1999
0
0
500
-0.20
Less common but valid
Last Updated: 27/01/26
