Spring is one of the busiest periods in the UK property market, and for first-time buyers, it often marks the moment when serious conversations begin. If you have been quietly researching and building up your savings, April is a natural time to start asking the bigger questions. Here are the ones we hear most often, answered plainly.
How much deposit do I need?
The minimum is 5% of the purchase price, but 10% opens up a noticeably wider range of mortgage products at better rates. The average first-time buyer in the UK put down around 20% in 2024, though that figure reflects buyers who have been saving for several years.
Do not be put off if your deposit is smaller. There are strong products available at lower loan-to-value ratios, and a good broker will help you find the most competitive option for your circumstances.
If you hold a Lifetime ISA, make sure you are making the most of the government bonus. For every £4 you save, the government contributes £1, up to £1,000 each tax year. It is one of the most effective tools available to first-time buyers and worth maximising before you start making offers.
Is now a good time to buy?
Conditions are considerably more encouraging than they were two years ago. The Bank of England base rate currently sits at 3.75%, its lowest point since spring 2023, and further cuts are widely anticipated later in 2026.
Monthly repayments on a typical first-time buyer property outside London have fallen to around £975, down from over £1,000 at the start of 2025. Wages are also rising faster than house prices in many regions, which means affordability is gradually improving. Waiting for the perfect moment rarely pays off. If you are financially ready, the spring market offers good choice and motivated sellers.
Should I use a mortgage broker or go direct to my bank?
A broker, particularly one who covers the whole market, will almost always give you a better outcome than approaching your bank alone. Lenders are adjusting their rates frequently at the moment, and brokers have access to products that are not always available on the high street.
They can also handle much of the paperwork, which reduces the risk of errors that slow applications down. Look for a fee-free broker who is paid by the lender rather than by you.
Getting a mortgage in principle before you begin viewing is strongly recommended. It clarifies your budget, reassures estate agents that you are a genuine buyer, and gives you a real advantage when competing for popular properties.
What costs should I budget for beyond the deposit?
This catches many first-time buyers off guard. Beyond your deposit, you will need to budget for solicitor and conveyancing fees, which typically run between £1,500 and £3,000 depending on the property. A homebuyer survey is an additional cost but a worthwhile one, particularly for older properties.
Stamp duty thresholds changed in April 2025, so if you are purchasing above £300,000, factor in the additional tax liability before settling on your upper budget.
How long does the buying process take?
From offer accepted to completion, the average transaction takes between eight and twelve weeks, though this varies significantly depending on the chain and how quickly solicitors move.
Instructing a proactive conveyancer early and responding to requests promptly are the two things most within your control. Delays most commonly occur when buyers or sellers are slow to provide information, so staying organised and responsive makes a genuine difference.
One final thought
Spring is an excellent time to buy, but preparation matters more than timing. Get your finances in order, speak to a broker early, and approach the process with a clear idea of what you need. The right home is out there.
Speak to our team today.