Buying your first home in the UK as a Nigerian can feel daunting—but trust us, it’s doable! Let’s break it down.
Is there a special mortgage for first-time buyers?
Not really. Most lenders don’t offer mortgages exclusively for first-time buyers. What they do have are regular mortgages that work well if you’ve never owned a home before — especially if you have a small deposit or limited credit history.
So, instead of hunting for a “first-time buyer mortgage”, look for the lender with the best deal for your situation.
Why can it be harder for first-time buyers?
As a Nigerian in the UK buying for the first time, you might face some common challenges:
✅ Smaller deposits — You might not have a property to sell to boost your savings.
✅ Limited UK credit history — Many Nigerians new to the UK have a shorter credit track record.
✅ Lower income — If you’re still early in your career, your salary might not stretch as far.
But don’t worry — plenty of lenders cater to this!
How to find the best mortgage deal
🔑 Use a mortgage broker! Seriously — this is your secret weapon.
A good mortgage broker will:
- Check your situation.
- Compare hundreds of lenders.
- Find the ones most likely to approve you.
- Handle your paperwork.
- Help you avoid multiple rejections (which can hurt your credit score).
One great option is Tembo, an award-winning UK mortgage broker. They even specialise in helping people who need extra support, like family-backed options if your parents or relatives want to help.
Should you go fixed or variable?
For many first-time buyers, a fixed-rate mortgage is a safer bet — especially if you’re new to UK budgeting! You’ll know exactly what you’re paying each month, which makes it easier to plan your naira and pounds.
What about mortgage terms?
Many first-time buyers choose longer mortgage terms (30–35 years) to keep payments lower each month. But remember: the longer you borrow, the more interest you pay overall.
Loan-to-value (LTV)
The bigger your deposit, the better your deal. But if saving up is tough, some lenders offer mortgages with just a 5–10% deposit.
Best mortgage lenders for Nigerians in the UK
Some of the big names like HSBC, Barclays, Nationwide, Halifax, Leeds Building Society, and Yorkshire Building Society often have decent deals for first-timers. But the best one for you depends on your income, deposit, and credit score.
✅ Top Tip: Get a trusted broker
A whole-of-market broker like Tembo or Habito can compare deals for you — often for free — and help you navigate UK mortgage jargon.
👉 Need help? Check out Tembo (you can even get 50% off their fee with Nuts About Money).
Ready to become a UK homeowner?
With the right advice, you’ll be collecting your keys soon. Naija no dey carry last! 🇳🇬🏡
✨ For more tailored advice for Nigerians living in the UK, visit Naija UK Connect.
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