One of the greatest difficulties for a first-time buyer is to simply raise the funds to purchase the property. The first question a first-time buyer should ask is what can they afford? A mortgage lender in most cases will usually allow mortgages to the value of three times the applicant's annual earnings. However if a couple is applying for a mortgage, the lender will lend three times the first income then add on the second income, alternatively some lenders will lend two and half times the joint income. It is important not to borrow too much, the first-time buyer needs to look into how much he or she can afford to repay each month

If you do not yet have a deposit there are a number of 100% first time buyer mortgages that may suit your circumstances although due to the very nature of these products the interest rate that you will be charged may be higher than a mortgage backed up by an initial deposit.