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First Time buyers in Sheffiled

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Planning to make your property ladder debut in Sheffield? Check out the various affordable options.

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First Time Buyer

Buying your first home can be a little bit daunting, but we’re here to help with all the challenges of finding your perfect place.


Looking for a better mortgage deal? Or to release some of the equity in your home? The process is often not as easy as it first appears.

Moving Home

Thinking of selling your existing property and moving to a new home? It’s important that you try and budget accurately. Find out why.


This can be one of the popular mortgage options available for those wishing to invest in the residential & rental property.

First time buyers in Sheffield

Wherever you are in the country, buying your first home is a balancing act that needs to be calculated. This means considering how much cash you have, what you earn, and your monthly outgoings.

But figuring out the finer details isn’t always straightforward.

Whether you’re looking to buy or simply assessing house prices in your area, Mortgages RM has a wealth of information at your disposal. With our comprehensive database and Fee-Free Mortgage Advisor, Stephen Kerrigan, we can narrow down the search for you with ease.

How have we calculated it?

First-time-buyers in Sheffield

We looked at the average price of two-to-three-bedroom homes as they are the most common type of property purchase for first-time buyers in all postcodes.

We analyzed the average mortgage advance from lenders in the region and used it to determine both the deposit requirement and borrow-to-income limit.

When considering buying a home, one of your top priorities should be to put as big down payment on the property as you can. This will allow you better access to mortgage rates and loans, and lower out-of-pocket costs in the end.

To reduce the potential cost of your loan you should try to put down a 10% deposit at a minimum. You can do this by saving overtime or getting family members to contribute money towards it.

One of the most popular methods for getting your first home is our government’s housing schemes.

Help to Buy is a fantastic way of helping people, where the government lends up to 20% of the purchase price interest-free for five years.

With a good credit score and manageable outgoings, banks will lend up to four times your monthly income. As a couple, combining your salaries can increase affordability.

By understanding the amount you can borrow and what you can put towards your deposit, then you will be able to assess how much money you leaves for a home. Once that is calculated, a search for properties is underway.

How can I afford a home as a first-time buyer?

First-time-buyers in Sheffield

Make sure you take into account additional fees that can crop up such as solicitor and moving costs. The good news is that stamp duty land tax will be waived for first-time buyers of homes under £300,000 if the home's worth less than £500,000.

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