The best time to support an aspiring homeowner is before they’ve started looking for a home, but that’s not always when they visit a broker. Sometimes they’ve made and had an offer accepted by the vendor before they’ve even considered the mortgage.

By highlighting the specialist support you can offer first-time buyers , and sharing your knowledge through social media, local media or word of mouth, you make it more likely that they come to you early to help them get mortgage-ready, from finding the best way to save a deposit to getting their finances .

Remind yourself that most people don’t live and breathe mortgages, especially those who have never bought a home. They are simply a means to an end. You can educate aspiring homeowners so they feel confident about their mortgage options and are able to make a decision with your help.

Talk to first-time buyers about the types of mortgage available and pros and cons of each, especially first-time buyer-specific mortgages. Explain the benefits of homeownership schemes and how they could benefit as well as checking if they have family support. Be the trusted source of knowledge they need, and signpost them to accurate information sources. Communicate clearly and double-check that they understand what you are saying.

Stress the importance of the deposit early. If they don’t have enough saved, explain the benefits of saving more and educate them on basic budgeting (cancelling old subscriptions they don’t need, for example).

Check whether they are maximising their savings with a Lifetime ISA, which can give them a government boost of 25%. And, if some of their deposit is a gift from family, make sure they have proof of funds, as it will be checked.

From loan to value (LTV) tiers to loan to income (LTI) limits, the way that affordability is calculated may not be understood by your clients, so you need to explain it as early as possible. Your clients may need to adjust their property expectations or accept they need to save for a bit longer when they understand these lending restrictions.

A decision in principle (DIP) may have limitations but they are particularly helpful for first-time buyers as a rough gauge of the borrower’s maximum buying power, which at least allows them to rule out what they definitely can’t afford.

You know how important it is that a mortgage applicant has their finances in the best possible shape before they apply, but your clients may not.

Suggest that any potential first-time buyers check their credit record to see if anything could cause a problem or if there are inaccuracies they can ask to be changed.

Remind them of the importance of meeting all monthly payments on existing credit cards or loans, especially in the period leading up to a mortgage application, and to stay out of the red on their current account.

It’s also worth cautioning them to limit Buy Now Pay Later finance, explaining the impact it could have on their application.

Give first-time buyer clients fair warning of what you need from them to make an application. Give them a list of documentation you will need for submission at your first meeting so they can gather it in advance. Not only does this help you to cross-reference what they state against the evidence, it also means you can immediately upload the necessary documents on submission to speed up the process.

Make sure they understand all the costs of buying so they can factor this into their budget. Many first-time buyers assume all their savings can go towards the deposit without considering the many other buying costs, from stamp duty to mortgage fees.

It’s also worth discussing insurance from the off so it’s factored into their budget. Bring it into the conversation early so they know which cover is obligatory (such as buildings) and what is highly recommended (life cover and protection).

The best brokers have their client’s back from the very start of the homebuying journey, often before they make an offer on a property. Helping to get aspiring homeowners’ mortgage ready can make the difference between a smooth and quick mortgage offer and delays or even a rejection. That’s why it’s a key part of the value you add to those who want to buy for the first time.

Don’t underestimate your depth of knowledge. Although the advice and tips you offer in addition to sourcing the mortgage might seem simple to you, they can be invaluable to those on their journey to homeownership.

For the use of mortgage intermediaries and other professionals only

The information contained in this article is the property of Lloyds Banking Group plc and may not be reused or publicised without our prior permission. The information provided is intended to be for information only and is not intended to be relied upon. This information is correct as of May 2025 and is relevant to Halifax products and services only. If you do not have professional experience, you should not rely on the information contained in this communication. If you are a professional and you reproduce any part of the information contained in this communication, to be used with or to advise private clients, you must ensure it conforms to the Financial Conduct Authority’s advising and selling rules.

Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.