If you’re thinking of buying your first home – congratulations! This is a big moment in anyone’s life, but we know it can also be incredibly daunting.
“The biggest worry we see from first time buyers is being overwhelmed by the process they’re about to go through, understanding the details of what a mortgage is, and having that amount of debt,” says Daniel Pitman, director of Crescent Mortgages.
“The whole thing – finding a mortgage, finding a solicitor, speaking to estate agents, viewing houses – there are so many unknowns that, for a lot of people, they think, ‘I don’t even want to start.”
“That’s the benefit of using a broker – people are reassured after just one conversation with us, because they realise they have a point of contact who can talk them through everything they need.”
We’re local to Bath and lots of surrounding Wiltshire towns and villages, and can help you understand the local market, but we predominantly work over the phone so regularly help people from all over the country.
That’s why we make the process as simple as possible, by creating guides like this and (unlike some other mortgage advisors) not charging broker fees, giving you more money to help create the first home of your dreams.
Step One
We’ll discuss your financial situation, the size of your deposit and your home-owning goals.
We do this to understand your outgoings and costs to see what you can afford each month – this is critical to lenders, so we’ll go through it all with you carefully.
We never rush this stage – we want you to feel comfortable and have an opportunity to ask as many questions as you need to understand the process.
Step Two
Once we have your information, we can quickly put together a Mortgage in Principle (MIP) – these are sometimes also known as an Agreement in Principle.
The MIP is a certificate that uses the details you’ve shared to show whether you’re likely to be eligible for a mortgage.
This shows estate agents you’re a serious buyer and can help when making an offer, particularly in fast-moving markets like Bath.
Step Three
After you’ve got an MIP and had an offer accepted on a property, you’ll need to get a mortgage – and it’s over to us.
We’ll take the information you’ve given and use that to work through thousands of deals across lenders.
We’ll present you with our recommendation, finding the best first-time mortgage deals that fit your budget and needs.
Step Four
If you’re happy with the mortgage scheme we found for you, then we’ll just need a few documents from you (things like evidence of deposit, bank statements and proof of income) – don’t worry, we’ll tell you what you need well in advance.
From there, we’ll get on with the process of applying, overseeing the mortgage process and giving you the peace of mind that things are being done properly.
Step Five
At the same time as applying for the mortgage, you’ll also need to pick and instruct a conveyancer (property solicitor). We can do this for you, picking one from our panel that meets your budget and requirements.
The conveyancer has a very important role in the process, and they’ll oversee the purchase all the way through to when you become the legal owner and get the keys.
Step Six
After the mortgage application is submitted, the lender will then do a valuation of the property to ensure it’s worth what you’re paying, and sometimes to check the basic condition of the property.
Step Seven
When the lender has completed their full assessment, signed off your documents and approved the new property, they’ll then issue your Mortgage Offer. This means the mortgage work is done, and it’s over to the Solicitors to oversee the rest of the purchase.
Step Eight
Consider getting a Survey. There are different levels, which can start at a few hundred pounds to well over £1000. It’s not mandatory, but it checks the building over and can uncover any hidden issues before you become the legal owner.
If you do find any surprises (such as repair work needed) you might renegotiate the price with the seller to offset the cost of the work, meaning the amount of mortgage you need might change.
Step 9
The entire buying process in the UK takes around 4 months on average but this can vary depending on the seller or unexpected issues with the legal work – but once that’s done, it’s time for completion.
This is the exciting part – when contracts are exchanged and the deposit is paid, the mortgage funds are released by the lender, the keys are handed over and your new home is yours.
Your home may be repossessed if you do not keep up repayments on your mortgage.
We’ve pulled together key information you’ll need as a FTB – from answers to questions, to explaining the different types of mortgages and government schemes that can help you get on the property ladder.
There are many types of mortgages out there – to be honest, it’s far better for us to discuss each with you directly because, once we know your homebuying goals and financial situation, we can explain which we think will fit.
However, here’s a quick overview so you can come armed with any questions:
If you’re struggling to afford the deposit needed to get onto the property ladder, don’t worry – there are a few government-backed schemes that may be able to give you a leg up. We’ve broken down a few of the popular ones for you here.
“It’s rare that we’d ever outright decline someone for an MIP”, says Daniel. “The most common issues we get are people not being able to borrow as much as they wanted, or not having enough deposit.”
Once you’ve got your MIP through us, you’re now armed with accurate information on what you’re likely to be able to borrow and can get started with finding your perfect first home
It sounds pretty simple – and for most people, it will be. You’re a first time buyer (FTB) if you’ve never owned a property to live in before (and this includes inherited homes).
The property you’re buying must also be for you to live in as your primary residence (i.e., you’ll live there most of the time).
If you’re buying your first home with other people, you’ll need to check if they’re a FTB – this will have an effect on the kind of mortgage you can get and other fees like Stamp Duty.
The way we get paid is simple – if we help you get a mortgage, we get what’s called a ‘procuration fee’ from the lender. This doesn’t impact what you pay, and is just a small percentage of the mortgage paid to us from the lender for bringing them a new client, and overseeing the application & paperwork for them.
So it’s in our best interest to get you the right mortgage, and get to the finishing line as smoothly as possible, otherwise we don’t get paid.
Brokers that charge a fee on top also receive this procuration fee so are getting paid twice – we’re happy with just the once. There’s no catch!
One of the key principles of getting a mortgage is this: the less you need to borrow to afford a property, the better. The size of your deposit, compared to the amount you have to borrow, is known as the Loan to Value ratio, which is expressed as a percentage.
Let’s say you’ve got £15,000 saved. If you used that to buy a £150,000 house, you’d have a 10% deposit and your LTV would be 90%.
If you used that £15,000 to buy a £300,000 property, you’d have a 5% deposit and an LTV of 95%. Generally speaking, the lower you can get the LTV, the better rates we’ll be able to find for you, so the more you can put into a deposit (without causing yourself financial stress), the better.
You’ll need to hire a conveyancer (a type of solicitor) to handle the legal work for you. They’ll undertake necessary legal work, like local authority searches and perform the necessary steps to oversee the legal transfer of your property.
Their charges will vary depending on what work they’ll need to do, but you can discuss this ahead of time. Like all the fees, we can help you understand what you need to do and help you through the process.
When taking out a mortgage, lenders can charge a mortgage arrangement fee. These can range from a few hundred pounds to over £1,500, and sometimes will vary on your headline mortgage rate. We’ll only recommend a scheme with a fee if it gets you a lower interest rate which means the scheme will be cheaper overall.
These don’t have to be paid upfront – they can usually be added to the cost of your mortgage – but more interest will be paid on the higher amount over the course of your borrowing.
When you’re buying your first home, there are more costs than just the purchase price – the biggest you’ve probably heard about is stamp duty.
Its full name is Stamp Duty Land Tax (SDLT), and it’s a tax paid to the government when purchasing your home. However, there’s a part of the scheme that’s designed to help first-time buyers, by removing SDLT for any home they buy up to £300,000.
However, in Bath the average house price for a first time buyer (as of May 2026) is £331,000.
Those paying that price will need to pay SDLT (5%) on the balance above £300,000, so it’s worth factoring that into the amount you’ll need to save for.
Other properties, such as in Trowbridge, Warminster and Melksham, are usually cheaper for first time buyers, and on average they won’t have to pay SDLT.
If you want to work out what your stamp duty will be in England – head over to our calculator
Some lenders will charge a fee to secure a specific deal, and may be non-refundable, even if you don’t take out their mortgage for whatever reason. These can range from £100 to £300, so should be taken into account.
However, these days, most high street lenders and larger building societies don’t include up front booking fees – so they’re very rare.
These are where the lender charges for someone to check the value of the property you’re buying, to be sure that it’s worth what you’re paying. These fees can sometimes be covered by the lender, but if you do have to pay for this, it’s usually no more than £100.
Our focus is on great customer service and clear, honest advice for mortgages, remortgaging, first-time buyers and life insurance, so you can feel confident and stress-free.
There are several types of mortgage available to first-time buyers, each with different features and benefits. From fixed-rate to tracker mortgages, understanding your options can help you choose a mortgage that suits your circumstances, budget and future plans.
“Fixed rate mortgages are the most common we use for first time buyers, because most like the stability – they know what they’re going to pay,” says Daniel.
A fixed-rate is just what it sounds like: the rate you pay is fixed for the length of the scheme. These monthly costs don’t change during the course of the mortgage scheme. The scheme is often between 2-5 years, but can be longer. We’ll discuss this to ensure you’re picking the right length scheme based on your circumstances.
Government-backed schemes can help make buying your first property more achievable. Depending on your circumstances, these schemes may reduce the upfront costs or make home ownership more affordable.
A lot of people ask ‘what is shared ownership?’ because it doesn’t really explain itself well.
It’s where the council or a housing association will own a portion of the property, and you the rest (usually between 25% and 75%, although some will take more). You’ll have to get a mortgage on the amount you owe, and pay rent for the portion you don’t own.
This rent is reduced compared to market rates, and allows you to get a foot on the property ladder. However, you may have to pay service charges and ground rent, as shared ownership properties are usually leasehold (where you buy the right to live on the land your home is built on, but you do not own the land).
“Shared Ownership schemes are more for people who can’t buy without it. Because you don’t own the full property, it’s not always ideal for everyone,” says Daniel.
Over time, you can work towards owning 100% of the property through a system known as ‘staircasing’, although this can come with extra costs (like administration fees) depending on how much you buy each year.
Enter your income details to get an estimate of how much you may be able to borrow. It’s a quick way to understand your potential budget before exploring your mortgage options.
This is an estimate only and the amount you could borrow will depend on your circumstances and the lender’s criteria. Your outgoings, credit history, deposit and mortgage term may all affect the amount available.
The results shown are not a mortgage offer or a guarantee of lending. Your home may be repossessed if you do not keep up repayments on your mortgage.
We set up Crescent Mortgages to help those looking to get a mortgage that’s right for them at a fair price – that’s why we don’t charge you a broker fee, to make the costs easier – there’s no catch!
We’ve helped countless first time buyers over our 28 years’ combined experience in finding the best mortgages for our customers.
“There are times we don’t necessarily love the job – sometimes you can be chained to your desk,” admits Daniel.
“But that early consultation with a first-time buyer, when you tell them, ‘Actually, I think you can get a mortgage, you can start your property search’ is just so rewarding.
“The genuine response of ‘Oh my god, that’s more than I was expecting from this call’ and hearing them realise owning a first home feels like a reality to them… that’s my favourite part of the job.”
We’re based in Trowbridge, Wiltshire, just on the outskirts of Bath. We know the local market well, and want to be your first port of call when you’re looking to get your first mortgage.
From the first call to completion, we know all the challenges you’ll be facing, and can guide you through them with the minimum amount of fuss.
“So happy with Kye’s professional approach and guidance from start to finish! He makes you feel at ease with the process. Can’t thank my friend enough for recommending him!”
“Exceptional fee-free service. It has been a hassle-free and stress-free transaction. Dan was very helpful and patient in explaining and walking us through every step of our mortgage application.”
“Communication was brilliant from the start. Dan was friendly, professional and knowledgeable. He tracked the interest rate on my new mortgage deal and secured a lower rate before I was locked in, saving me considerable money.”
“The communication has been brilliant, every step and option available to us has been explained and Kye has been readily available for discussions and questions, which has made the whole process go very smoothly.”
“With my partner being self-employed, I was scared this would be a barrier to us getting a mortgage—no such thing as barriers with Kye and Crescent Mortgages! They made the whole process so simple.”
“Dan was thorough and explained everything in a way that was easy for us to understand as first-time buyers, without being patronising. His communication and manner were excellent, and he guided us through a slightly tricky requirement.”
Our focus is on great customer service and clear, honest advice for mortgages, remortgaging, first-time buyers and life insurance, so you can feel confident and stress-free.
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We’re here to talk you through any questions on the mortgage process, whether you’re thinking of remortgaging, ready to get a new deal, recently self-employed or a first-time buyer.
Email: info@crescentmortgages.co.uk
Phone: 01225 690 120
Monday – Friday: 9.00am – 5:30pm
Saturday: Closed
Sunday/Bank Holidays: Closed
