All Collections
The A - Z of Mortgages
What is a first-time buyer?
What is a first-time buyer?

What you need to know about being a first-time buyer.

Written by Tanisha Anand
Updated over a week ago

What does it mean to be a first-time buyer?

A first-time buyer is defined as an individual who has never owned a part or all of a residential property in the United Kingdom or anywhere else in the world, and who intends to occupy the property as their main residence.

Why is this important?

Being a first-time buyer can change your liability for taxes such as stamp duty land tax.

You can find out more here about Stamp Duty Land Tax.


A chain is where several property transactions are linked together. This could be, for example, because someone is selling their home and buying a new one.

Being a First-time buyer means you will have no chain below you, as you won't have a property to sell. This can be really helpful in avoiding delays. However, it is worth being aware that the property you are buying may be part of a chain.

Did this answer your question?