Summer 2025 might just be the season first-time buyers have been waiting for. With lenders bringing back 100% mortgages, increasing income multiples, and easing affordability checks, buying your first home could be closer than you think — even if you don’t have a huge deposit saved up.
But before you dive in, preparation is everything. Here’s what you need to know to make the most of this opportunity (and avoid any nasty surprises).
The New Mortgage Landscape
Several lenders, including April Mortgages and Gable Mortgages, are now offering 100% mortgages — meaning you can borrow the full value of your home without putting down a deposit (if you meet strict criteria).
Gable Mortgages, for example, is offering five-year fixed rates around 5.95% for standard properties and 5.65% for new builds. Skipton, Barclays, and Halifax are also joining the no-deposit comeback tour.
This is a game-changer for many, but these deals aren’t for everyone — and getting your finances in shape is a must.
Get Your Finances in Tip-Top Shape
Lenders will scrutinise your finances, so you need to show them you’re a safe bet. Make sure to:
- Check your credit report for errors and fix any issues.
- Clear or reduce existing debts like credit cards or personal loans.
- Keep your bank statements clean — no unexplained withdrawals or gambling transactions.
- Show a strong rental payment history, as some lenders use this to assess affordability.
Your mortgage adviser can help you tidy things up and present your best financial self.
Secure a Mortgage in Principle
A mortgage in principle (sometimes called an agreement in principle) shows how much you can potentially borrow and proves to sellers you’re serious. Even better? When arranged correctly, it won’t harm your credit score.
This is your first green light to start viewing homes confidently.
Budget for More Than Just the House Price
Buying a home isn’t just about affording the price on the listing. Make sure you also budget for:
- Solicitor and conveyancing fees
- Valuation and survey costs
- Possible mortgage arrangement fees (these can often be added to your loan)
- Stamp duty (many first-time buyers pay little or none — but always double-check)
- Home insurance, and life or income protection policies
A good adviser will help you plan all these extra costs upfront, so there are no hidden shocks.
Understand the Risks
Zero-deposit mortgages usually come with higher interest rates and a higher chance of falling into negative equity if house prices dip.
It’s wise to stress-test your budget — check if you can still afford repayments if rates go up by 1% or 2%. Peace of mind is priceless.
Talk to a Mortgage Adviser Early
The earlier you start the conversation, the smoother the journey. A mortgage adviser can:
- Help you explore no- or low-deposit options
- Run checks on your credit and affordability
- Explain exactly what higher rates and repayments mean for you
- Recommend protection policies to keep your finances safe
- Support you in planning for future interest changes and building equity
Ready to Take the First Step?
With 100% mortgages and flexible lending back on the table this summer, it’s an exciting time for first-time buyers. But preparation is key.
Speak to a trusted mortgage adviser now and take those first confident steps towards your new home.
We’re here to help — and we can’t wait to get you moving.
Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.
