%20(Logo)%20(Rectangle%20Sticker%20(Landscape))%20(Logo)(4).png)
First Time Buyer Mortgages in Bristol
At The Mortgage Comapny, think of us as your trusted partners in navigating the Bristol first-time buyers market. Our team of independent brokers is here to help you secure the best mortgage deal, whether you're looking at help-to-buy schemes or other options.
​
Being a first-time buyer can be overwhelming, but don't worry, we can help. We will support you through the process, and make sure you understand how mortgages work and what options are available to you. A great place to start is understanding how much you could borrow & what your monthly payments will be. If you are ready to take the first steps with us, please get in touch.
Finola has been paramount to our house buying process. As first time buyers, Finola has gone over and above in providing support and guidance. We cannot recommend her and the Mortgage Company highly enough for anyone buying a home. Thank you for all your help, Finola!
Benedict, Google
Why Choose The Mortgage Company Bristol for Your First-Time Buyer Mortgage?
A mortgage is one of the biggest, if not the biggest, financial commitment you will make, and it's an especially important milestone as a first-time buyer. After saving up long and hard it's understandable you'll want to get the best deal out there. Choosing the right mortgage broker can make all the difference when you're buying your first home. At The Mortgage Company, we take the time to understand your unique circumstances, including your financial situation, goals, and concerns, explaining everything to you every step of the way. Our team’s extensive experience and deep knowledge of lender criteria mean we can identify the best first-time buyer mortgage for you, even if your situation may be complex or unique, for example if you're self-employed or a freelance contractor.
What sets us apart is our commitment to you. We pride ourselves on thorough research, clear communication, and support throughout the entire process. We’re not just here to find you a mortgage; we’re here to ensure you feel confident and informed every step of the way, helping you celebrate one of the most exciting milestones in life. To find out more, book in a a free 30-minute call to start exploring your options today.
.png)
.png)
.png)
Schedule a Free 30 Minute Discovery Call
Schedule your free 30 minute discovery call now
What's Involved in the Process for Buying Your First Home?
We have put together a high level step by step process to detail the key stages of the home-buying journey! Have a read of our blog, Buying your First Home: The End to End Process for a more detailed breakdown of each step. At The Mortgage Company, we can guide you and support each step of the way. We have our own panel of conveyancers who we can also recommend, keeping us in the loop once you have achieved your mortgage offer.
Hugely recommend Finola - super responsive and friendly. It was also really refreshing and reassuring to speak with a female of my age as a first time buyer. Will be sure to use Finola again for my next property purchase - thanks again!
Cath, Google
Latest Insights for First-Time Buyers
Buying in Bristol: Area Guide for
First-Time Buyers
As experienced Bristol mortgage advisors, we know that choosing where to buy your first home is just as important as securing the right mortgage. Bristol is a diverse city with something for everyone - from lively urban neighbourhoods to peaceful, green suburbs. Whether you're looking for a vibrant social scene, strong commuter links, or value for money, there's a part of Bristol that can meet your needs and your budget.
Bedminster & Southville
Trendy, central, and full of life
Bedminster and Southville are popular choices for first-time buyers looking for a buzzing atmosphere close to the city centre. With rows of characterful Victorian terraces, independent cafes on North Street, and local landmarks like the Tobacco Factory, these areas blend community charm with urban convenience. While competition can be strong, many first-time buyers secure their first step on the ladder here with our tailored mortgage advice and access to a wide panel of lenders.
St George & Redfield
​Great value with strong growth potential
Just east of the city centre, St George and Redfield have become hotspots for buyers wanting more space and value without sacrificing access to the city. With good transport links, lovely parks like St George Park, and a growing mix of independent shops and cafes, these areas are ideal for young couples or professionals. If you're looking for a smart investment as well as a home, these up-and-coming areas are definitely worth considering.
Horfield & Filton
Ideal for professionals and commuters
North of the city, Horfield and Filton offer practical, well-connected living - especially for those working at Southmead Hospital, the MOD, or within the aerospace and tech sectors. You'll find a mix of 1930s semis, new builds, and affordable apartments, with easy access to Gloucester Road's popular shops and bars. As local mortgage brokers, we regularly help first-time buyers secure competitive deals in this part of Bristol.
Brislington & Knowle
Space, greenery, and long-term value
For those looking to escape the hustle and bustle while still staying close to the city, Brislington and Knowle are great choices. These areas offer family-friendly streets, good local schools, and plenty of green space - perfect for buyers who want room to grow. With a range of properties and a slightly more relaxed pace of life, it's no surprise more first-time buyers are heading south of the river. We're here to help you navigate the process with expert, local mortgage advice tailored to your goals.
Frequently Asked Questions
What is a first-time buyer in Bristol?
A first-time buyer in Bristol is someone purchasing their first property in the area. Whether it’s a flat or a house, for personal use or investment, you’re considered a first-time buyer if you haven’t owned property before.
How do I know how much I can borrow as a first-time buyer?
As a first-time buyer, your borrowing potential depends on factors like your income, outgoings, and credit history. Our team can help you work out what you can afford and guide you towards the best mortgage deals for your situation.
What happened to the Help to Buy scheme in Bristol?
The Help to Buy: equity loan scheme in Bristol was a government initiative designed to help first-time buyers and existing homeowners purchase a property with as little as 5% deposit. The Help to Buy equity loan scheme closed to new applications on Monday 31st October 2022, with the scheme officially coming to an end on Friday 31st March 2023. First time buyers are waiting to see whether any other similar schemes are going to be available, however at this moment the Help to Buy Equity Loan scheme is closed.
What are the benefits of being a first-time buyer in Bristol?
First-time buyers in Bristol can benefit from paying lower stamp duty. If you’re a first time buyer in England or Northern Ireland, you will pay no Stamp Duty on properties worth up to £425,000. For properties costing up to £625,000, you will pay no Stamp Duty on the first £425,000. You'll then pay Stamp Duty at the relevant rate of 5% on the remaining amount, up to £200,000. (Correct as of December 2023).
How can I apply for a mortgage as a first-time buyer in Bristol?
Applying for a first-time buyer mortgage in Bristol involves several steps, from assessing your financial situation to finding the right lender and completing the application. At The Mortgage Company, we’ll handle the hard work for you, guiding you through each stage to make the process as smooth as possible.
How much deposit do I need as a first-time buyer in Bristol?
Most first-time buyers in Bristol will need a deposit of 5-10% of the property price. However, there are 100% mortgage options available, introduced in 2023, though these typically come with higher interest rates. We can help you weigh the pros and cons of these options.
How does the mortgage process work for first-time buyers in Bristol?
The process starts with assessing your financial situation, downloading your full credit report, and understanding your budget. Once you’ve found a property, you’ll make an offer, and we’ll help you secure the best mortgage deal. From there, we’ll work with conveyancers and lenders to complete the process smoothly.
What is the average house price for first-time buyers in Bristol?
The average house price in Bristol varies depending on the location and type of property. While the city offers a mix of options, it’s always best to speak with a mortgage advisor for the most up-to-date information tailored to your needs.
Can I use a mortgage broker as a first-time buyer in Bristol?
Absolutely. Using a mortgage broker like The Mortgage Company can save you time, money, and stress. We’ll search the market to find the most suitable first-time buyer mortgage for you and provide expert advice throughout your journey.
Is it good to talk to a mortgage broker?
Speaking to a mortgage broker is a great idea, especially for first-time buyers. Brokers can simplify the entire mortgage process, helping you understand how much you could borrow and what your monthly payments might be. They’ll take the time to answer all your questions, guide you through the paperwork, and find a mortgage deal tailored to your circumstances. With their expertise, you can feel confident and supported as you navigate this big step.
Is it better to use mortgage brokers or a bank?
For first-time buyers, a mortgage broker often provides more flexibility and choice compared to going directly to a bank. While banks only offer their own mortgage products, brokers have access to a wide range of lenders, including smaller building societies and specialist providers. This means they can find options that suit your unique situation. Plus, you don’t need to have your mortgage with the same bank you use for your everyday banking, giving you even more possibilities.
Are mortgages more expensive through a broker?
An independent mortgage broker will have access to a comprehensive amount of mortgage lenders and building societies. This means that they are able to compare all of the mortgage lenders and mortgage products against each other, carry out any research on your criteria needs, and source the most cost effective mortgage product for you. In fact, brokers often have access to exclusive deals and products that aren’t available directly to the public, providing potential cost savings for you. Mortgage brokers are also informed of upcoming mortgage product changes, so you can be better informed about any potential rate increases or decreases and take advantage of securing a rate as soon as possible via your mortgage broker.