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Supporting our first time buyers

For 150 years, we've been helping people turn their dreams of homeownership into a reality. Our evolving product range is designed to meet the real needs of today’s first time buyers. Offering 95% LTV and up to 5.5x LTI on a minimum £30,000 household income, we can help your clients do more with their budget. Our application process is simple, with dedicated tools, support and contact options whenever you’re facing a challenge.

We don’t see a problem, we see an opportunity to help.

We consider a first time buyer as anyone who has not had a mortgage in the last three years. At least one applicant must meet this definition. If not, please take a look at our Fixed Rates for people remortgaging or home movers.

First Time Buyer

Key benefits

  • Only one applicant needs to be a first time buyer (defined as not having a mortgage in the last 3 years)

  • Loan to Income (LTI) of up to 5x their household income

  • Self-employed applicants welcome

  • Available up to 95% LTV - including New Build Houses

  • 10% capital repayments are allowed each year without incurring an Early Repayment Charge, unless otherwise stated

  • Standard Valuation Fee included

Key eligibility criteria

  • Have a minimum 5% deposit
  • Minimum £30,000 gross household income if their LTI is between 4.5 - 5.0x. For example, the first applicant could earn £17,000 and the second £13,000
  • Total Debt to income (mortgage and unsecured debt) of up to 5.5x or 5x household income if using more than 90% of max affordability
  • The range may offer 2, 3 or 5 year product options
  • Capital and Interest Only

Income Plus

Key benefits

  • Only one applicant needs to be a first time buyer (defined as not having a mortgage in the last 3 years)

  • Loan to Income (LTI) of up to 5.5x their household income

  • Self-employed applicants welcome

  • Available up to 95% LTV - including New Build Houses

  • 10% capital repayments are allowed each year without incurring an Early Repayment Charge, unless otherwise stated

  • Standard Valuation Fee included

Key eligibility criteria

  • Have a minimum 5% deposit
  • Minimum £30,000 gross household income. For example, the first applicant could earn £17,000 and the second £13,000
  • Total Debt to income (mortgage and unsecured debt) of up to 5.75x or 5.5x household income if using more than 90% of max affordability
  • Fixed rate for a minimum period of 5 years
  • Capital and Interest Only

Income Plus information sheet (PDF, 0.3MB) (opens in a new window)

See potential for your client in these options?

Explore our range of tailored First Time Buyer Mortgages and take advantage of our exclusive rates.

Tools for you and your client

Affordability calculators

Experian Boost

First time buyer broker guide

Income Plus case study

Shared Ownership and Shared Equity Mortgages

Reach Mortgages

Need help?

Contact your Business Development Manager

Frequently asked questions

Please note:

Leeds Building Society only accepts mortgage applications from intermediaries where they are providing an advised sales service, with the exception of Buy to Let & Holiday Let applications. It is the responsibility of the intermediary to ensure that all applicable law including, without limitation, the Financial Conduct Authority rules on advised mortgage sales are complied with including, without limitation, the provision of adequate explanations.