Test your mortgage knowledge

Are you ready?

The journey to buying your first home can be a tricky one, full of jargon and surprises. But a little knowledge goes a long way and can smooth your way. Take our quiz and find out if you’re ready to get on the property ladder.

Property ladder. A quiz. Get on the ladder Property ladder. A quiz. Get on the ladder Property ladder. A quiz. Get on the ladder

Property ladder. A quiz.

This game is based on a 2,000 respondent OnePoll survey of UK homeowners based throughout the UK, conducted in June 2018. Page sources for other statistics are found at the bottom of this article.

First time buyer tips

Boost your deposit

The government’s Help to Buy scheme can help you get a bigger deposit in a few ways.

You can get a 25% boost to your savings from a Lifetime or Help to Buy ISAs, or the equity loan can bring a 5% deposit up to 25%. Though a few restrictions apply to both, read more here.

Know your power

As a first time buyer you’re actually in a strong position when it comes to negotiating prices. As you’re the first link in the ‘chain’ (the connections of buyers and sellers) you don’t have a home to sell, so there’s less risk you’ll need to drop out of the process.

This means you’re in a good position to negotiate over house prices, so don’t be too nervous to haggle.

Ask an expert

If you’re completely new to the world of mortgages and home buying, it’s worth getting some guidance from someone who knows it inside and out. Mortgage brokers can give you specific advice based on your circumstances, many charge a fee for this service, but some like our partners L&C provide fee-free advice.

Know your score

Of course we’re going to tell you to check your credit score and report, but buying a home is the one time you really should take a close look at your credit report and see where you can improve it. Having a good score means you’re much more likely to be offered a good mortgage deal.

Compare mortgage deals

1. https://www.gov.uk/government/publications/uk-house-price-index-summary-march-2018/uk-house-price-index-summary-march-2018

3. https://www.moneyadviceservice.org.uk/en/articles/how-to-buy-and-sell-a-home-through-estate-agents

4. https://www.moneyadviceservice.org.uk/en/articles/money-timeline-when-buying-property-england-wales--n-ireland

5. https://www.moneyadviceservice.org.uk/en/articles/money-timeline-when-buying-property-england-wales--n-ireland#stage-4--finalise-the-offer-and-mortgage

7. https://www.moneyadviceservice.org.uk/en/articles/how-much-can-you-afford-to-borrow

8. https://www.moneyadviceservice.org.uk/en/tools/house-buying/stamp-duty-calculator

9. https://www.moneyadviceservice.org.uk/en/articles/money-timeline-when-buying-property-england-wales--n-ireland