Buying your first home is exciting and slightly terrifying. Our job is to turn the vague online 'you could borrow up to...' figure into a number you can actually take to an estate agent - one that survives the lender's full affordability stress test.
Agreement in Principle (AIP)
An AIP is a lender's soft credit check and indication of what they'll lend. But not all AIPs are equal - a poorly matched AIP can leave a hard search footprint and still fall over at full application. We match you to the right lender first, so your AIP is worth something.
- Soft-search AIPs that protect your credit file
- Matched to lenders likely to accept your profile
- Validated against full affordability, not just income multiples
Loan-to-value (LTV) in plain English
LTV is simply the loan as a percentage of the property value. A 10% deposit means a 90% LTV. The lower the LTV, the wider the lender choice and the better the rate - but 95% LTV deals are available for buyers with a smaller deposit.
- 5%–10% deposit: 90%–95% LTV deals available
- 15%+ deposit unlocks significantly better rates
- Gifted deposits need a clear paper trail
Parental guarantees & gifts
A gifted deposit from family is common and acceptable - but lenders need proof it's a gift, not a loan, and the donor's source of funds for anti-money-laundering checks. Some lenders also offer joint borrower / sole proprietor mortgages so parents can support borrowing without the second-home SDLT surcharge.
- Donor declaration confirming it's a non-refundable gift
- Source of funds evidence for AML compliance
- JBSP option to avoid the second-home stamp duty surcharge
Common questions
How much deposit do I really need?
5% is the minimum for most residential deals (95% LTV). 10%–15% opens up far better rates. Anything below 5% is rare outside specific government schemes.
Can I use a gift from my parents?
Yes, if it's a genuine gift (not a loan) and the donor can evidence the source of funds. We'll handle the declarations and AML paperwork.