First Time Buyer Mortgages

Q: What is an Agreement in Principle and do I need one?

An Agreement in Principle shows how much a lender may be willing to lend you based on initial checks. It helps you understand your budget and demonstrates to sellers that you are a serious buyer.

Q: Can I get a mortgage if I have never owned a property before?

Yes. Being a first time buyer does not count against you. Many lenders actively support first time buyers and offer products designed specifically for them.

Q: What documents will I need to apply for a mortgage?

Typically, lenders require proof of income, recent bank statements, identification, and details of your deposit. We guide you on exactly what is needed and help you prepare everything correctly.

Q: Why should I use a mortgage broker instead of going directly to a bank?

A mortgage broker searches across multiple lenders, not just one. This increases your chances of finding a suitable deal, avoids unnecessary rejections, and ensures your application is packaged correctly from the start.

First Time Buyer Mortgage Advice in Scotland

Buying your first home is one of the most exciting milestones in life, but it can also feel intimidating. For many first time buyers, the mortgage process is unfamiliar, complex, and filled with conflicting information.

At Mark One Financial Services, we specialise in first time buyer mortgage advice in Scotland and across the UK. Our role is to cut through the confusion, explain your options clearly, and help you secure the most suitable mortgage for your circumstances, without unnecessary stress.

A Clear Path Through the Mortgage Maze

The mortgage market can feel like a labyrinth. With hundreds of lenders, products, and criteria, knowing where to start is often the hardest part.

Therefore, we take the time to understand your current financial position and your future plans. Using our extensive network of mortgage lenders, we identify the lenders most likely to support your application and offer competitive terms. This allows you to compare a comprehensive range of mortgage products without needing to shop around yourself.

Our structured, step-by-step process gives you clarity and confidence from the very beginning.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Deposits, Affordability and Options for First Time Buyers

In today’s market, many lenders typically look for a deposit of around five percent. However, this does not mean your homeownership journey has to stop if you do not have that amount saved.

There may be alternative options available depending on your circumstances. We will explain what is realistic, what is achievable, and what steps you can take to strengthen your position.

We also help you plan ahead by reviewing both your current affordability and your potential future financial position.

What Lenders Look At and How We Prepare You

When you apply for a mortgage, lenders assess several factors to determine how much you can borrow and on what terms. These include:

• Your income and employment
• Your regular outgoings
• Your deposit amount
• The value of the property
• Your credit history

We help you present a complete and accurate picture. By working through a simple budget planner together, we ensure your finances are clearly understood and properly evidenced, reducing the risk of delays or surprises later in the process.

The stronger your preparation, the smoother your application.

Support Beyond the Mortgage Offer

Our service does not stop once your mortgage is approved.

This means that we remain involved through to completion, liaising with lenders and solicitors where needed. After you move in, we continue to support you with ongoing advice and mortgage monitoring, helping ensure your mortgage remains suitable as your circumstances and the market change.

This is why many of our first time buyers stay with us for years.

Common Questions Answered

How much deposit do I need as a first time buyer in Scotland?

Many lenders typically look for a deposit of around five percent, but this can vary. Some buyers may be eligible with a smaller deposit depending on lender criteria, property type, and support schemes available.

What is an Agreement in Principle and do I need one?

Can I get a mortgage if I have never owned a property before?

What documents will I need to apply for a mortgage?

Why should I use a mortgage broker instead of going directly to a bank?