Buying your first home – expert guidance from Gordon Anthony Mortgages
Buying your first home is an exciting milestone — but it can also be one of the most daunting. From saving for a deposit to understanding your mortgage options, there’s a lot to think about. That’s where Gordon Anthony Mortgages can help.
We specialise in supporting first-time buyers across the North West, providing honest, mortgage advice in Rawtenstall, Burnley, and Accrington. Our goal is simple: to help you make confident, informed decisions and find a mortgage that’s right for you — not just for now, but for the long term.
Our experienced team combines years of financial expertise with real property knowledge. Because we’ve worked closely with estate agents and property professionals across the region, we understand every stage of the moving process — including how the timing of your mortgage fits in with your purchase. That means you get clear, practical guidance that helps everything run smoothly when buying your first home in the North West, or beyond.
What is a mortgage?
A mortgage is a loan that allows you to buy a property when you don’t have the full amount upfront. You borrow from a lender and repay it monthly, with interest, over an agreed period. Most first-time buyer mortgages today last around 30 years, but your advisor will help you explore the best borrowing term for your situation.
When you take out a mortgage, you’ll need to put down a deposit — a portion of the property’s cost that you pay upfront. The higher the deposit, the less you’ll need to borrow, and the more options you’ll have when choosing a mortgage deal.
At Gordon Anthony Mortgages, we’ll explain how deposits, rates, and terms affect your overall affordability, so you can move forward with complete clarity.
How much deposit do first-time buyers need?
Most first-time buyers will need a deposit of at least 5% of the property’s value. For example, if you’re purchasing a £200,000 home, your deposit will usually be £10,000.
However, there are now more options for buyers who may struggle to save a deposit — such as a guarantor or 100% mortgages. These allow a family member to support your application or secure the loan without a deposit at all.
Our advisors will take the time to explore all your options, making sure you understand the benefits and potential risks before committing to anything.
Understanding loan-to-value (LTV)
The term loan-to-value, or LTV, is often used when comparing mortgage deals. It’s simply the ratio between your mortgage amount and the value of the property. For example, if you buy a £200,000 home with a £20,000 deposit, your mortgage is £180,000 — giving you a 90% LTV.
The lower your LTV, the more attractive you appear to lenders, which can mean access to better rates. We’ll calculate this for you and explain how to improve your position if needed.
Freehold vs. leasehold – what’s the difference?
If you’re buying your first home, you’ll likely encounter these terms. With a freehold, you own both the property and the land it stands on. With a leasehold, you own the property for a fixed term but not the land beneath it.
If you’re buying a flat or maisonette, it’s usually leasehold — and that can involve ground rent or service charges. We’ll guide you through the pros and cons so there are no surprises later on.
What other costs should I expect when buying my first home?
Your deposit isn’t the only cost to budget for. You’ll also need to consider:
- A home survey – to check the property’s condition.
- Solicitor or conveyancer fees – for handling the legal process.
- Stamp Duty – though first-time buyers are currently exempt up to £300,000.
- Buildings insurance – often required by your lender.
- Moving costs – including removals, storage, or new furniture.
We’ll help you plan for these expenses so you have a clear picture of what’s needed from the start.
Getting mortgage-ready
Preparation is key to a smooth mortgage application. Lenders will assess your ability to meet repayments, looking at your income, outgoings, and credit history. We’ll guide you through what lenders are looking for and help present your application in the best possible light.
Here’s how you can strengthen your application:
- Check your credit score with Experian, Equifax or TransUnion.
- Keep on top of payments — avoid late bills or missed direct debits.
- Cut unnecessary spending and try to save regularly.
- Stay consistent — make sure all your accounts show your current address.
Government help for first-time buyers
It’s a challenging time to get on the property ladder, but there are schemes designed to help. For example, the First Homes Scheme allows eligible buyers to purchase a home in their local area with a discount of 30–50%.
At Gordon Anthony Mortgages, we stay up to date with all the latest schemes and incentives. We’ll let you know which options you qualify for and whether they suit your goals.
The mortgage application process – step by step
Buying your first home doesn’t have to be stressful. With our support, you’ll always know what comes next.
- Initial conversation: We’ll discuss your goals, finances, and what you’re hoping to achieve.
- Assessment: We review your documents and check how much you can borrow.
- Mortgage in Principle: This helps you understand your budget and shows sellers you’re serious.
- Find your home: Once you’ve chosen a property, we’ll advise on timing and next steps.
- Application: We complete and submit your application to the lender.
- Valuation & survey: The lender checks the property’s value; we guide you through your survey options.
- Offer: Once approved, you’ll receive your formal mortgage offer and can move ahead with your purchase.
Our team understands how the moving process works from every angle — from sales progression to mortgage completion. We’ll keep everything on track so your mortgage and move align perfectly.
Why choose Gordon Anthony Mortgages?
Our reputation for being reliable mortgage advisors across Rawtenstall, Burnley, and Accrington has been built on trust, expertise, and personal service. We’re not just another mortgage broker — we’re part of your journey.
As whole-of-market advisors, we have access to a wide range of lenders and deals. We’ll always explain your options clearly, without jargon, and with full transparency on fees and products.
Our clients appreciate that we’re approachable, honest, and genuinely here to help. That’s why so many recommend us to their friends and family — and it’s something we’re incredibly proud of.
Flexible appointments and ongoing support
Whether you prefer a face-to-face chat, a phone call, or a Zoom meeting, we work around you. We also provide ongoing support after your mortgage is complete — reviewing your deal when it’s time to remortgage or discussing protection options to secure your investment.
Start your home-owning journey today
Taking that first step can feel daunting, but with the right advice, it becomes an exciting new chapter. Our friendly advisors at Gordon Anthony Mortgages aim to make the process clear, stress-free, and rewarding. Let’s find the right mortgage for you — and make your first home a reality.
Call: 01282 506060
Email: info@gordonanthonymortgages.co.uk
Refer a Friend and get £50
If you’ve already had a great experience with us, why not share it? When you recommend a friend who takes out a mortgage through Gordon Anthony, you’ll both receive a £50 voucher as our way of saying thank you.
Your home may be repossessed if you do not keep up repayments on your mortgage.
It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice. No part of this document may be reproduced in any manner without prior permission.