Buying your first home is exciting — but it can also feel overwhelming.
Rising property prices, saving a deposit, and understanding lender criteria can make the mortgage process feel complicated. The good news is that first-time buyers in Northern Ireland still have plenty of options — and with the right advice, getting onto the property ladder is very achievable.
We help first-time buyers understand their options, check what they can borrow, and secure a mortgage that fits their circumstances — from the very first conversation through to getting the keys.
What is a first-time buyer mortgage?
A first-time buyer mortgage is designed for people who have never owned a property before. These mortgages are often built to help you take that first step with clearer affordability checks and products aimed at new buyers.
- Often available with smaller deposits compared to other mortgage types.
- May work alongside local or government-backed buying schemes (where applicable).
- Designed for people who are new to home ownership and the mortgage process.
Most lenders now offer mortgages of up to 95% loan-to-value, meaning you may only need a 5% deposit to get started.
Can I get a mortgage as a first-time buyer?
This is one of the most common questions we’re asked — and it can’t be answered with a simple yes or no without looking at your situation. Every application is assessed on its own merits, and different lenders apply different criteria.
What lenders look at
- Employment status — permanent, fixed-term, or self-employed.
- Age — whether the mortgage runs beyond your planned retirement age.
- Affordability — income vs. outgoings and existing commitments.
Other factors that matter
- Property type — some lenders apply different rules for new builds or certain flats.
- Credit history — missed payments, defaults, or limited credit history can affect options.
- Overall application strength — deposit size, stability, and consistency.
The important thing to remember is that lenders don’t all work the same way. Being declined by one lender doesn’t mean you won’t be accepted by another.
How much can I borrow?
The amount you can borrow depends on more than just your salary. Some lenders may consider lending around 4 to 5 times your income, but the final figure depends heavily on affordability and your current financial commitments.
- Existing credit commitments (loans, credit cards, car finance).
- Household expenditure and monthly living costs.
- Stability and type of income (employed, self-employed, variable income).
Clearing or reducing outstanding debts before applying can often increase your borrowing potential.
Income some lenders may accept
- Overtime or bonuses (depending on consistency).
- Certain state benefits (criteria varies by lender).
- Retirement or pension income (where relevant).
Why a broker helps here
Different lenders treat different income types in different ways. We can point you towards lenders whose criteria match your circumstances, which saves time and avoids unnecessary declines.
How much deposit does a first-time buyer need?
Most first-time buyers will need a minimum deposit of 5%. 95% mortgages have become much more common in Northern Ireland, with many mainstream lenders now offering them.
- The best interest rates are usually reserved for buyers with larger deposits.
- A higher deposit can often mean lower monthly repayments and more product choice.
If saving a deposit is proving difficult, all is not lost. There may still be options available, including Co-Ownership, Springboard or family-assisted mortgages, and other government-backed schemes.
What help is available for first-time buyers in Northern Ireland?
Northern Ireland has some options that aren’t always available elsewhere in the UK. One of the best-known is Co-Ownership, which allows you to buy a share of a property and pay rent on the remaining portion, with the option to buy more over time.
Not every scheme suits every buyer, but with the right guidance, these options can be a practical route onto the property ladder.
How much will my mortgage repayments be?
Your repayments are determined by the amount you borrow, the rate you secure, and the term of your mortgage. Traditionally, many mortgages were taken over 25 years, but some lenders allow terms of up to 35 years, which can reduce the monthly cost.
Shorter term
Higher monthly payments, but you usually pay less interest overall and repay the mortgage sooner.
Longer term
Lower monthly payments, but you’ll typically pay more interest over time, increasing the total amount repayable.
Many first-time buyers choose a longer term initially to ease financial pressure, then reduce the term later when their circumstances improve — for example, when a fixed rate ends.
What does the first-time buyer mortgage process look like?
While every case is different, the process usually follows a clear set of steps. Having a Decision in Principle in place early can make the process smoother and shows estate agents that you’re serious.
- Initial discussion to understand your circumstances.
- Decision in Principle (to confirm how much you can borrow).
- Finding a property and making an offer.
- Submitting a full mortgage application.
- Valuation and underwriting.
- Receiving a formal mortgage offer.
- Legal work and completion.
Why use a mortgage broker as a first-time buyer?
As a first-time buyer, the choices can feel overwhelming. A mortgage broker helps you cut through the noise, understand what’s realistic, and choose a lender whose criteria suits you.
- Searches across a wide range of lenders.
- Matches your circumstances to lender criteria.
- Helps avoid unnecessary declines and wasted applications.
- Guides you through every step of the process.
Our advice is free, with no obligation, and designed to make your first purchase as straightforward as possible.