Helping first time buyers get onto the property ladder
Introduction
Buying your first home is exciting — but it can also feel overwhelming, especially in a busy market like Southend-on-Sea. With a mix of seaside apartments, family homes, and commuter-friendly properties, Southend offers plenty of choice for first time buyers.
As a first time buyer, your biggest questions are usually:
- How much can I borrow?
- What deposit do I need?
- Which lenders are most likely to say yes?
That’s where clear, FCA-compliant mortgage advice makes all the difference.]
Understanding How Much You Can Borrow
Lenders calculate affordability based on income, outgoings, and future rate rises.
For more details, read our guide on How Mortgage Affordability is Calculated.
Typically, lenders offer around 4–4.5 times your income, but this varies depending on credit history, debts, and other commitments.
Deposit Requirements in Southend
Most first time buyers in Southend aim for at least a 10% deposit. With average property prices ranging from £220,000 for a flat to £350,000+ for houses, this means saving £22,000–£35,000.
If you have only 5%, there are still mortgage options, but your Loan-to-Value (LTV) will be higher, meaning fewer lenders and slightly higher rates.
Local Housing Market Snapshot
Southend has:
- Affordable seaside flats popular with first time buyers.
- Family homes with gardens in suburbs like Chalkwell and Westcliff.
- Strong commuter demand with direct links to London.
This means competition can be high — so securing a mortgage Agreement in Principle early is wise.
Government & Lender Schemes
First time buyers in Southend may be eligible for schemes such as:
- Shared Ownership
- First Homes Scheme (discounted new builds for locals and key workers)
- 95% mortgages backed by government guarantee
We’ll explain which options fit your circumstances.
How Amber Mortgage Solutions Helps First Time Buyers
We specialise in guiding Southend buyers through the process:
- Explaining your borrowing power clearly.
- Matching you to lenders most suited to first time buyers.
- Helping you compare fixed rate vs variable mortgages.
- Managing paperwork and liaising with lenders to save you time.