A Complete Guide for First-Time Home Buyers

Buying your first home is an exciting milestone — but it can also feel daunting if you’re unsure where to start. At Watts Mortgage and Wealth Management, we understand that taking your first step onto the property ladder is one of the biggest financial decisions you’ll ever make. Our team is here to guide you through every stage of the process, making it simple, stress-free, and tailored to your needs.


Before you begin viewing properties, it’s important to get your finances in order. Lenders will look closely at your income, outgoings, and credit history to assess your ability to manage a mortgage. It’s essential to set a realistic budget — not only for the purchase price but also for ongoing costs such as insurance, utilities, and maintenance. The experienced advisers at Watts Mortgage and wealth Management can help you review your finances and determine how much you can comfortably afford, ensuring you’re well-prepared from the outset.


Saving for a deposit is another key step in the journey. Most lenders require at least five per cent of the property’s value as a deposit, although this can vary depending on the mortgage type and any first-time buyer schemes available. In addition to your deposit, you’ll need to consider other costs such as solicitor fees, valuation fees and a monthly cost to ensure your mortgage is fully protected should the worse happen.


Once you’re financially ready, we recommend getting pre-approved for a mortgage. This gives you a clear idea of how much you can borrow and shows sellers that you’re a serious buyer — which can make a big difference in today’s competitive housing market. Watts Mortgage and Wealth Management works with a wide range of lenders across the market, giving you access to exclusive mortgage deals and rates that may not be available directly to the public.


Choosing the right mortgage can be confusing, especially with so many options available. Whether you’re considering a fixed-rate mortgage for stability or a variable-rate option for flexibility, our specialist advisers will explain the pros and cons of each and find a product that best suits your circumstances. We can also advise on government-backed schemes designed to help first-time buyers, such as Shared Ownership or Own New mortgages.


When you’ve found your perfect home and your offer has been accepted, we’ll continue to support you through the entire process — from the mortgage application, valuation and offer to liaising with solicitors and ensuring everything runs smoothly until completion day.


Watts Mortgage and Wealth Management is a multi-award-winning mortgage and protection broker, we pride ourselves on providing clear, honest advice and a personal service that puts your goals first. Buying your first home should be an exciting and rewarding experience, and with our expertise on your side, you can take your first step with confidence.