• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Menu
  • Home
  • Videos
  • Online Tools
  • Residential
    • Mortgage Deals
    • First Time Buyer
    • Remortgage
    • Right to Buy Mortgage
    • Bad Credit Mortgage
    • Self Employed
    • High Income Multiple
    • Gifted Deposit
    • Foreign Nationals
    • Shared Ownership Mortgage
    • Debt Consolidation
    • Product Transfer Rate Switch
    • Close
  • Buy to Let
    • Buy to Let Mortgage Deals
    • Product Transfer Rate Switch
    • BTL 80% Loan to value
    • Buy to let Remortgage
    • Let to Buy
    • HMOs
    • Buy to Let with Bad Credit
    • Limited Company
    • Portfolios
    • Holiday Lets
    • Ex Pats
    • Rent to Family Member
    • DSS Tenants
    • Into Retirement
    • Foreign Nationals
    • Inherited Property
    • Close
  • Bridging & Commercial
    • Bridging Loans Explained
    • Why use Bridging Finance
    • Auction Finance
    • Development Finance
    • Non Standard Commercials
    • Commercial Mortgage Tips
    • Close
  • Protection
    • Home Insurance
    • Life Insurance & Protection
    • Will Writing Service
    • Probate Services
    • Close
  • About Us
    • Why Niche Advice
    • Our Fees
    • Testimonials
    • Blog
    • Privacy Notice
    • Terms and Conditions
    • Close
  • Client Portal
  • Contact Us
Expert Finance Brokers

Expert Finance Brokers

Outside the box Mortgage Solutions

No upfront fees banner

No Upfront Fees! - 0207 993 2044
16 years in business Helping thousands of clients.

First Time Buyer Mortgage 5.5 times income with 10% deposit

by Payam Azadi

From 26th April 2021, we will have access to an exciting new mortgage aimed at first time buyers which will allow them to borrow up to 5.5 times income on a mortgage.

Where this is really special and exciting is it goes all the way up to 90% loan-to-value i.e. just a 10% deposit.

The change means the lender could now provide a first-time buyer couple with a joint employed income of £50,000 a mortgage of £275,000, rather than the £225,000.

This offer is currently limited to “employed” applicants.

As with all mortgages; the 5.5 times mortgage should be discussed first with a professional mortgage advisory firm such as Niche Advice Limited to make sure it is affordable.

Key points:

  • Available to applicants buying in England, Wales and Scotland.
  • 90% loan-to-value i.e 10% deposit.
  • First time buyer purchases.
  • The applicants must live in the property i.e. residential.
  • Employed applicants only.
  • Missed payments on personal finance are not allowed.
  • Foreign nationals living in the UK on Tier 1, Tier 2, Spousal and Ancestry Visas are considered but the minimum deposit from them is 25%.
  • New build houses 85% loan-to-value | New build flats 75% loan-to-value.
  • Flats are generally limited to a maximum of 4 storeys in the block.

Assessment of your eligibility will not be possible until the 26th April 2021.

Free, No-Obligation Quote today!

By completing this form you are allowing us to respond to the query by phone, email SMS and our messaging software.

Filed Under: First Time Buyer

Primary Sidebar

More to See

High Mortgage Interest Rate

High Mortgage Interest Rate? How to Remortgage in 2025.

By Payam Azadi

5 Year Fixed Mortgage with only 2 Year Early repayment charg

5 Year Fixed Mortgage with only 2 Year Early repayment charge

By Payam Azadi


*Credit Check Offer – Try it FREE for 30 days, then £14.99 a month – cancel anytime

Footer

niche advice logo
AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.
If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay. Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority.

FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

Our Fees

Click here for our fees structure. A full detailed fee plan will accompany all our quotes.

Niche Advice Limited has a commercial arrangement under an affiliate programme with Check My File and is remunerated for referrals.

Terms and Conditions

If you wish to register a complaint, please write to us on the details below or call us on: 020 7993 2044.

Correspondence Address: Niche, Unit F3, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG.

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234567.

Site Terms and Conditions
Customer Privacy Notice

NICHE ADVICE T: 020 7993 2044

Registered Office: Niche, Unit F3, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG. Registered in England & Wales. Company registration number: 06599033.

Contact Us
Enquire Online

© 2025 · Niche Advice Limited · Site Designed by Niche Advice Design Team