How much could I borrow?
Try a broad borrowing illustration using income and regular commitments. It does not include your deposit or confirm a lender's decision.
Explore borrowingYour home may be repossessed if you do not keep up repayments on your mortgage.
Latest Government update
Your First Home: what Budget 2026 means
Budget 2026 confirmed an England-only scheme for some first-time buyers purchasing a participating new build, with a 20% equity loan and a 2.5% minimum deposit. Pre-registration is expected by the end of December 2026, with full applications from February 2027.
Important: this does not guarantee a mortgage or eligibility. Income caps, local property-price caps, lender and developer participation still apply, and the formal delivery arrangements need to be in place.
Read the full factual update
At a glance
Budget 2026 confirmed
A 20% equity loan, 2.5% minimum deposit, five-year interest-free period and income caps of £110,000 outside London and £140,000 in London.
What to check
The local-authority price cap, participating developers and lenders, annual funding availability and the formal scheme rules.
Checked against HM Treasury Budget 2026 on 28 October 2026.
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A conversation in plain English
Buying or remortgaging can feel like a lot. Start with the questions that matter to you and take time to understand the options before deciding what to do next.
- Ask the questions you have, without feeling rushed.
- Understand the process and the information a lender may need.
- Decide your next step in your own time.
Free Tools
Understand your budget before you buy
Start with how much you might borrow, how much cash you need and what the mortgage could cost each month. You can use every tool without leaving your contact details.
How much cash might I need?
Estimate a deposit plus common buying costs, including Stamp Duty, legal work and surveys. These are assumptions, not quotes for your purchase.
Estimate buying costsWhat could I pay each month?
Use a loan amount, interest rate and term to estimate repayments and total interest. The illustration keeps the same rate throughout and excludes fees.
Calculate monthly paymentsWould I pay Stamp Duty?
Check an estimate for a purchase in England, including first-time buyer relief where you qualify. The result depends on your circumstances.
Check Stamp DutyImportant: These are illustrations, not mortgage offers, quotes or lending decisions. Your circumstances, the property and the lender's criteria all matter. If you have figures in mind, we can talk through what they mean for you.
You do not need to have every answer before we talk. Bring the figures you have, and we can work through the questions together.
How the Process Typically Works
Here's an overview of the typical steps involved in buying your first home.
01
Initial Chat
We discuss your income and deposit to understand what you might be able to afford.
02
Decision in Principle
I can help you apply for a Decision in Principle, which shows estate agents you've been assessed for a mortgage.
03
Find Your Home
You go house hunting. Once you find a property and have an offer accepted, I handle the full application.
04
Complete the Purchase
I liaise with lenders and solicitors to help keep things moving towards completion.
Want More Detail?
Click each step below to see what typically happens at each stage.
1Initial Chat & Affordability Check
We start with a friendly, no-pressure conversation about your situation. This can be over the phone, video call, or in person at my office in Alsager.
What we'll cover:
- Your income and employment situation
- How much deposit you have (or are saving towards)
- Your monthly outgoings and commitments
- Any credit history concerns
- What type of property you're looking for
This usually takes about 30-45 minutes. There's no charge and no obligation.
2Decision in Principle (DIP)
A Decision in Principle (also called an Agreement in Principle or Mortgage in Principle) is a certificate from a lender indicating they would, in principle, consider lending you a certain amount.
Why this can be helpful:
Estate agents often prefer to see a DIP as it shows you've been assessed for a mortgage. It's not a guarantee of lending, but it can help when making offers.
What typically happens:
- I'll ask you to complete a short online form with your details
- Ask which credit check applies before submitting: lenders may use a soft or hard search
- You receive a certificate indicating how much you might be able to borrow
- Check the lender's expiry date and whether an updated assessment is needed
Timescales vary depending on the lender.
3House Hunting & Making an Offer
With a clearer idea of your budget, you can start viewing properties with more confidence.
Tips for this stage:
- View properties at different times of day
- Check mobile signal and broadband availability
- Research the area (schools, transport, amenities)
- Consider negotiating on price
I'm here to help:
If you're unsure whether a property is within your budget, or want to discuss how an offer price might affect your monthly payments, feel free to get in touch. I'm happy to run through the numbers with you.
This stage varies — some people find their home in weeks, others take months. There's no rush.
4Full Mortgage Application
Once your offer is accepted, we move to the full mortgage application. This is where I do most of the work on your behalf.
What I'll typically need from you:
- Proof of ID (passport or driving licence)
- Proof of address (utility bill or bank statement)
- 3 months' payslips
- 3 months' bank statements
- Proof of deposit (savings statements)
What I do:
- Compare deals from a range of lenders
- Recommend options that may be suitable for your situation
- Complete and submit the application on your behalf
- Keep in touch with the lender for updates
Application and decision times vary with the lender, documents, valuation and any further checks.
5Valuation & Survey
The lender assesses the property's value and suitability as security for the mortgage. Its valuation is not a detailed condition survey; you may want a separate survey for your own benefit.
Types of survey:
- Basic Valuation (often included with mortgage)
Confirms the property value for the lender. Doesn't check condition in detail.
- HomeBuyer Report (ask a surveyor for a quote)
Suitable for standard properties. Highlights any obvious issues.
- Full Building Survey (ask a surveyor for a quote)
Often recommended for older or unusual properties. Very thorough.
Valuation timing depends on the lender, property and whether an inspection is needed.
6Mortgage Offer
If the lender is satisfied with the valuation and your application, they'll issue a formal mortgage offer. This is an important milestone.
What the offer includes:
- • The amount they're willing to lend
- • The interest rate and monthly payment
- • Any conditions attached to the offer
- • The expiry date and any conditions you must meet
Check the offer expiry date and speak to the lender if your circumstances or completion date change.
7Legal Work (Conveyancing)
Your solicitor handles all the legal paperwork. This is often the longest part of the process, but I'll help keep things moving where I can.
What your solicitor typically does:
- Conducts local authority searches
- Reviews the contract from the seller's solicitor
- Raises enquiries about the property
- Arranges transfer of funds
- Registers the property in your name
Typically 6-10 weeks, but can be longer if there are complications.
Conveyancing is not regulated by the Financial Conduct Authority.
8Exchange & Completion — Get Your Keys
The final stage. Exchange of contracts makes the sale legally binding, and completion is when you get the keys.
Exchange of Contracts:
- Both parties sign contracts
- Your solicitor confirms the exchange deposit, which may differ from your mortgage deposit
- A completion date is agreed by the parties
- Neither party can back out without penalty
Completion Day:
- • The mortgage funds are transferred to the seller
- • The estate agent arranges the release of keys once completion is confirmed
- • The house is officially yours
Congratulations — you're a homeowner!
Government Schemes That May Help
If you're finding it difficult to save a large deposit, there are several government-backed schemes that may be worth exploring.
Please note: Government schemes and their terms change regularly. The information below is a general overview only. Please verify current eligibility criteria and terms on gov.uk before making any decisions.
Shared Ownership
Buy a share of your home (often 10%-75%) and pay reduced rent on the rest. This may suit those with a smaller deposit or lower income.
- Deposit based on share price, not full value
- Option to buy more shares later ("staircasing")
- Available on new builds & resales
First Homes Scheme
New-build homes offered at a discount for local first-time buyers and key workers. The discount stays with the property.
- Discounts typically 30-50%
- Price caps apply (check gov.uk for current limits)
- Availability varies by area
5% Deposit Mortgages
The Mortgage Guarantee Scheme encourages lenders to offer 95% mortgages. You may only need to save a 5% deposit.
- May help you buy sooner
- Available on properties up to certain values
- Open to movers too, not just first-time buyers
Lifetime ISA (LISA)
Save towards your first home and receive a government bonus. Must be used for first home (subject to price limits) or retirement.
- 25% government bonus on savings
- Must be open for 12+ months to use
- Penalty if withdrawn for other reasons
Not sure which scheme might suit your situation? I can help you understand your options.
Discuss My OptionsThe scheme information above is for general guidance only and may not reflect the latest terms or eligibility criteria. Government schemes are subject to change. Always verify details on gov.uk before making decisions. Your home may be repossessed if you do not keep up repayments on your mortgage.
Be Prepared
What You'll Need
Gather these documents before we chat and you'll be ready to move fast when you find the right home.
Your progress0 of 9 items
Proof of Identity
Valid passport or driving licence
Must be current and not expired
💡 A passport is preferred by most lenders
Proof of address (last 3 months)
Utility bill, bank statement, or council tax bill
💡 Mobile phone bills usually aren't accepted
Proof of Income
Last 3 months' payslips
Consecutive months showing your regular income
💡 Include any bonus or overtime if it's regular
Latest P60
Shows your annual earnings and tax paid
💡 You get this from your employer each April
Employment contract (if recent)
Required if you've been in your job less than 3 months
💡 Shows your salary and employment terms
Bank Statements
Last 3 months' bank statements
All accounts where your salary is paid or savings held
💡 Lenders look at your spending habits, so avoid gambling transactions
Evidence of deposit source
Shows where your deposit money came from
💡 If it's a gift, you'll need a signed letter from the giver
Property Details
Property listing or details
Address, price, and estate agent contact
💡 I can help before you've found a property too
Solicitor/conveyancer details
Their name, firm, and contact information
💡 I can recommend local solicitors if you need one
Local Expert
Buying in Alsager?
I live and work here. Here's what you need to know about buying your first home in our town.
Alsager Property Market
A practical view of the Alsager property market
Property prices and trends change, and online averages do not tell the whole story. I can talk through what current asking prices, your deposit and your budget may mean for your own plans.
Areas to Consider in Alsager
Town centre — walkable, convenient
Linley Road area — family-friendly
Near the Mere — peaceful setting
Why First-Time Buyers Love Alsager
Great Commuter Links
Direct trains to Crewe, Stoke, and Manchester. Easy access to M6.
Check What Fits Your Budget
Compare homes using their asking price, condition and likely running costs, alongside your deposit and monthly budget.
Excellent Schools
Well-regarded primaries and Alsager School is a popular secondary choice.
Green Spaces
Alsager Mere, Milton Park, and surrounding countryside. Perfect for dog walkers and families.
Independent High Street
Local butchers, bakeries, cafés, and pubs. Real community feel without being isolated.
Growing Community
New developments bringing young families. Active community groups and events throughout the year.
Common Questions
It's normal to have questions. These answers explain the starting points, without assuming everyone's situation is the same.
How much deposit do I need?
There is no single deposit requirement for everyone. It depends on the mortgage, lender and any scheme you use. As an illustration, 5% of a £200,000 home is £10,000 and 10% is £20,000. Those are examples, not minimum requirements or confirmation that you qualify. You also need to budget for buying costs alongside the deposit.
How much could I borrow?
Lenders assess your income, regular commitments, credit history and other circumstances. An income multiple alone cannot confirm your budget. The borrowing calculator gives a broad illustration using simple assumptions; it does not include your deposit or replace a lender's assessment.
What fees do I need to pay?
Alongside the deposit, allow for legal work, searches, surveys, moving costs and any mortgage fees. Stamp Duty may also apply, depending on the purchase and whether you qualify for relief. Get quotes for your own purchase rather than treating calculator allowances as fixed prices. My mortgage advice is fee-free for standard cases: the lender pays a commission when the mortgage completes. A fee may apply for complex cases, which I explain upfront.
How long does it take?
There is no guaranteed completion time. The lender's checks, valuation, legal work, property and any chain all affect the timeline. A mortgage offer is one step in the process, not confirmation that you can move in. Your solicitor can explain what remains before exchange and completion.
Can I buy with a small deposit?
A smaller deposit may be possible, but eligibility depends on the lender, mortgage, property and any scheme rules. A 5% deposit on a £200,000 home would be £10,000, purely as an example. Having that sum does not guarantee a mortgage. We can look at the deposit alongside your income, commitments and buying costs to understand your options.
Should I get a mortgage before finding a house?
Understanding your likely budget before house hunting can help. A Decision in Principle is a lender's initial indication, not a formal mortgage offer or guarantee of approval. Ask what credit check the lender will carry out before applying: some use a soft search and others a hard search. A full application also involves checks on you and the property.
Why use a mortgage broker?
I can help you understand the process and compare options from a comprehensive lender panel, based on your circumstances. I also help with the application and communication with the people involved. I'm based in Alsager and support first-time buyers across Cheshire. Suitability and lending decisions depend on your circumstances and the lender's criteria.
What happens when my fixed rate ends?
Check your mortgage offer, statement or lender app for the deal-end date and what happens next. Without a new arrangement, you may move onto the lender's reversion rate, often called its Standard Variable Rate. Review your options before the deal ends, allowing time for any application. Check early repayment charges and the completion date before switching; a new deal is not guaranteed to cost less.
Rob Davies
Your local mortgage adviser in Alsager
Have Questions About Buying Your First Home?
You don't need to have found a house yet. In fact, it can be helpful to chat before you start looking.
Understand Your Budget
Get a clearer idea of what you might be able to borrow, so you can focus on properties within reach.
Decision in Principle
I can help you apply for a Decision in Principle certificate to show estate agents.
Ask Anything
No question is too basic. I'm here to explain everything in plain English.
Get in Touch
Fill in this quick form and I'll get back to you to discuss your options.
Mortgage answers
Latest first-time buyer answers
Clear answers for people getting ready to buy their first home.
Last verified 28 October 2026
Can I buy with a 2.5% deposit under Your First Home?
A 2.5% deposit is the announced minimum for eligible Your First Home purchases, not a guarantee that a buyer or property will qualify.
Read answerLast verified 28 October 2026
What does Budget 2026 mean for first-time buyers?
Budget 2026 confirmed the main design and timetable for Your First Home, but it does not guarantee a mortgage, eligibility or a property purchase.
Read answerLast verified 28 October 2026
What is the First Time Buyer ISA from 2029?
The new First Time Buyer ISA is planned from April 2029 for new savers, with £4,000 yearly contributions and a 25% Government bonus for qualifying first homes up to £450,000.
Read answer