How much deposit do I need as a first time buyer in Scotland?

Most lenders require a minimum 5% deposit, though 10% or more gives you access to better rates. On a £200,000 property, a 5% deposit is £10,000. Gifted deposits from family members are something we handle regularly.

What is an Agreement in Principle and do I need one?

An AIP is a statement from a lender that they would lend you a certain amount, subject to full application. In Scotland's competitive property market, having an AIP before you offer is effectively essential. We can get yours the same day.

What is a Home Report and do I pay for it?

Every property sold in Scotland must have a Home Report — a survey and valuation pack. The seller pays for it, not you.

What is a closing date in Scottish property?

A closing date is Scotland's sealed bids. All offers are submitted on a set date. We ensure your mortgage is ready so your offer is financially credible.

Home › First Time Buyers

First Time Buyer Mortgage Advice · Scotland

Your first home
in Scotland.
We'll get you there.

Q: What is LBTT, and how does first time buyer relief work?

Land and Buildings Transaction Tax is Scotland's equivalent of Stamp Duty. First time buyer relief raises the nil rate band from £145,000 to £175,000, which is worth up to £600. It must be claimed on your LBTT return and applies only where every buyer has never owned residential property anywhere in the world and will live in the home as their main residence. General information based on Revenue Scotland's published rates, not tax advice.

Your Local Mortgage Expert is a local, independent firm of mortgage advisers who know the Scottish property process inside out — from understanding your borrowing power to submitting your mortgage application, getting your Home Report to making it through missives.

Check what I can borrow 0141 266 0686

First time buyer essentials

LBTT First Time Buyer Relief

Relief lifts the nil rate band from £145,000 to £175,000, worth up to £600 if you meet the conditions and claim it.

Home Report

Every property in Scotland must have a Home Report paid by the seller. We explain what to look for.

Agreement in Principle

Get this before you view seriously. Shows sellers you're mortgage-ready. We can get it the same day.

LIFT Scheme Scotland

Scotland's shared equity scheme can help some buyers purchase with a smaller deposit. Funding is allocated each year and closes once it is spent, so we check what is open before you rely on it.

Book a free initial consultation

First Time Buyer SpecialistsFort WilliamObanInvernessGlasgowLanarkshire90+ LendersWhole of MarketLIFT Scheme ExplainedFast Agreement in PrincipleScottish Buying Process

Step by Step

The Scottish first time buyer process, explained.

We explain every step before it happens so nothing catches you off guard.

Free Initial Consultation

We start with a conversation — no cost, no commitment. We'll give you an honest picture of what you can borrow and which lenders are right for you. Normally carried out by telephone, wherever you are in Scotland.

Agreement in Principle (AIP)

Your proof to sellers that your mortgage is ready. In competitive Scottish markets, having this in place can be the difference between getting your offer accepted or not. We aim to get this the same day.

Property Search and Home Report

With your AIP, you can view with confidence. Every Scottish property comes with a Home Report paid for by the seller. We'll explain what to look for before you make an offer.

Making an Offer Through Your Solicitor

In Scotland, offers are made through solicitors — not directly. If the property goes to a closing date (sealed bids), we'll ensure your mortgage is ready so your offer is credible.

Full Mortgage Application

Once your offer is accepted, we submit your full application. We manage lender queries and chase the valuation so you don't make a single phone call you don't have to.

Mortgage Offer and Conclusion of Missives

The lender issues your formal mortgage offer. Your solicitor concludes missives — the point the sale becomes legally binding in Scotland. We coordinate throughout.

Settlement and Keys

Settlement day — you get your keys. We'll have arranged buildings insurance from this date and will follow up about protection for your new home.

LBTT first time buyer estimate

Estimated LBTT on a first home

First time buyer relief raises the nil rate band from £145,000 to £175,000. Conditions apply and it must be claimed on your LBTT return.

General information based on Revenue Scotland's published rates, not tax advice. Relief is worth up to £600, must be claimed on your LBTT return, and applies only where every buyer has never owned residential property anywhere and will live in the home as their main residence. Rates checked against Revenue Scotland in September 2026 and can change. Confirm your own position with your solicitor.

Your Advisers

Direct access. No call centres.

Initial consultation is always free — no obligation, no hard sell.

Phil McLeod

Principal Mortgage Adviser

First Time BuyersRemortgageSelf-EmployedComplex Cases

Founder of the firm. Based in Lesmahagow, Phil advises clients throughout Scotland on first time buyer mortgages, remortgages, buy to let, self-employed and complex cases.

Lesmahagow, South Lanarkshire

90+ lenders, whole of market

100+ Google Reviews

Free initial consultation

Book with Phil

Dougie Ritchie

Mortgage Adviser — Buy to Let & Complex Cases

Buy to LetPortfolio LandlordsComplex CasesLtd Company BTL

Based in Renfrew, Dougie advises landlords and complex-case clients throughout Scotland. An experienced adviser and property investor in his own right.

Renfrew, Paisley & Renfrewshire

90+ lenders, whole of market

Property investor & landlord

Free initial consultation

Enquire with Dougie

Read our 100+ Google Reviews

Areas We Cover

Mortgage advice across Scotland.

We advise clients anywhere in Scotland — including Fort William, Oban and the surrounding areas — with appointments normally carried out by telephone. Initial enquiries are always free.

Lesmahagow

Lanark

Hamilton

Biggar

Motherwell

Carluke

Larkhall

Strathaven

Douglas

Wishaw

Law

Forth

Crossford

Kirkmuirhill

Abington

Renfrew

Paisley

+ All of Scotland

Mortgage Adviser Hamilton Mortgage Adviser Lanark Mortgage Adviser Motherwell Mortgage Adviser Carluke Mortgage Adviser Biggar Mortgage Adviser Larkhall Mortgage Adviser Wishaw Mortgage Adviser Renfrew Mortgage Adviser Paisley

FAQs

Questions answered honestly.

Google Reviews

What our clients say.

5.0· 100+ Google reviewsRead all reviews →

Nick

Lanark

"From start to finish Phil kept us informed about everything. As first time buyers we didn't have a clue. Phil took us through all options and was incredibly fast getting our mortgage. Can't thank him enough — highly recommend."

Justine

Larkhall

"Phil has been amazing throughout the full process — reassuring at every step and very helpful with any questions or worries I had. Would absolutely recommend to anyone."

Allan

Biggar

"Phil was brilliant from start to finish — nothing was a problem. Huge thank you for all the help."

Read all 100+ Google reviews

Related services

Deposit guide

How much you actually need

Offers over explained

Home Report value and your cash

First Homes Fund

Up to £10,000 towards a first home

LIFT shared equity