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September 24, 2025 • MortgageCircle

First-Time Buyer Checklist – 2025 Edition

Buying your first home is one of life’s most exciting milestones. But with today’s changing market and stricter lending criteria, the process can also feel overwhelming. The good news? With the right preparation, you can step onto the property ladder with confidence.

💰 Save for Your Deposit

Most lenders require at least a 5–10% deposit of the property’s value. The bigger your deposit, the better your access to lower interest rates and competitive mortgage deals.
👉 Consider setting up a dedicated savings account or a Lifetime ISA to build your deposit efficiently.

🏛️ Explore Government Support

There are several schemes in 2025 designed to help first-time buyers:

  • Shared Ownership – Buy a share of a property (usually 25–75%) and pay rent on the rest.

  • First Homes Scheme – Buy a home at a discount (typically 30%) compared to market value, subject to eligibility.

  • Regional Help-to-Buy Successors – Some local authorities offer additional incentives.
    👉 These schemes can reduce upfront costs and open doors to properties that may otherwise be out of reach.

📄 Get an Agreement in Principle (AIP)

Before you start house hunting, secure an Agreement in Principle (AIP) from a lender. An AIP shows how much you can borrow, based on your income and credit history.
👉 Tip: A strong AIP not only helps you budget but also boosts your credibility with estate agents and sellers.

🔑 Other Smart Moves for First-Time Buyers

  • Check your credit report – Ensure it’s accurate and improve it where possible.

  • Budget for extras – Legal fees, valuation costs, and moving expenses quickly add up.

  • Get advice – A mortgage broker can help you find lenders who specialise in first-time buyers.

🔹 How Mortgage Circle Can Help

At Mortgage Circle, we love helping first-time buyers take their first steps onto the property ladder.

✔️ Guidance on saving strategies and deposit requirements
✔️ Access to lenders who welcome first-time buyers with smaller deposits
✔️ Step-by-step support from AIP to final mortgage approval
✔️ Friendly advice to make the process less daunting

📞 Call us: 0121 572 0675 / 0800 644 0190
🌐 Website: www.mortgagecircle.co.uk

⚠️ Compliance & Risk Notice

Your property may be repossessed if you do not keep up repayments on your mortgage.
Business lending and most commercial mortgages are not regulated by the FCA.

This newsletter is for general information purposes only and does not constitute personal advice. Please consult an adviser for recommendations suited to your circumstances.

Mortgage Circle is authorised and regulated by the FCA (FCA No. 797652).

Warm regards,
The Mortgage Circle Team