Buying your first home should be exciting — not overwhelming. At Sims Mortgages & Protection, we guide first-time buyers every step of the way, from understanding your mortgage options to receiving your keys. Based in Derby, we provide honest, expert advice and access to exclusive deals from 90+ UK mortgage lenders.

Requirements for First-Time Buyer Mortgages

To apply for a first-time buyer mortgage, most lenders will require:

✔ A deposit (usually 5% or more of the property value) • Proof of income (payslips, bank statements, or tax returns if self-employed)

✔ A good credit history (though we also work with specialist lenders if yours isn’t perfect)

✔ Proof of ID (passport or driver’s licence)

✔ Proof of address (utility bills, bank statements, or council tax letters)

Support for First-Time Buyers

While Help to Buy ISAs are now closed to new applicants, you can still use funds saved in existing accounts. The Lifetime ISA (LISA) remains a fantastic tool for building your deposit, offering a 25% government bonus (up to £1,000 a year). Both buyers in a joint purchase can use their LISAs toward the same property.

Many first-time buyers receive help from family. Here are some options:

• Guarantor Mortgage – A parent or guardian guarantees the repayments if you cannot.

• Joint Mortgage – Both parties are on the mortgage and the property title.

• Joint Borrower Sole Proprietor – Both parties are on the mortgage, but only the buyer is on the title, helping avoid additional stamp duty.

For more help if you are a First-Time-Buyer why not read our guide below.

Contact one of our Derby Mortgage advisors.

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