Buying your first home in Leamington Spa can feel exciting, but also overwhelming. With its beautiful Regency architecture, buzzing high street, and excellent transport links to Birmingham, Coventry, and London, it’s no wonder so many first-time buyers want to settle here.
This guide will walk you through the key steps to becoming mortgage-ready in Leamington Spa — from saving your deposit to picking the right mortgage.
1. Understand the Leamington Spa Property Market
Leamington Spa has a variety of neighbourhoods to suit different buyers.
- North Leamington (Milverton, Lillington): Larger period homes, often at a premium.
- South Leamington (Brunswick, Sydenham): More affordable terraces and flats, popular with first-time buyers.
- Town centre: Great for young professionals, with high demand for apartments and conversions.
👉 Tip: Use property websites such as Rightmove or Zoopla to track current prices and trends in Leamington Spa.
2. Work Out Your Deposit and Budget
Most first-time buyers in Leamington Spa will need at least a 5–10% deposit. For example:
- ÂŁ250,000 flat in South Leamington = ÂŁ12,500 deposit (5%).
- ÂŁ350,000 terrace near Jephson Gardens = ÂŁ17,500 deposit (5%).
Saving more can give you access to better mortgage rates.
3. Explore First-Time Buyer Schemes in Leamington Spa
You may be eligible for support schemes such as:
- Shared Ownership (common in Warwickshire developments).
- The First Homes Scheme, which offers discounted homes to local buyers.
- Family-assisted mortgages where parents help with affordability.
4. Get Mortgage-Ready in Leamington Spa
Lenders will look at:
- Your income and job stability.
- Your credit history. Download your credit report here.
- The size of your deposit.
Speaking to a local mortgage broker in Leamington Spa can help you find the right deal, including products not always available directly from high street lenders.
5. Don’t Forget Extra Costs
In addition to your deposit, budget for:
- Solicitor and conveyancing fees.
- Survey and valuation costs.
- Moving and furnishing expenses.
âś… Final Thought: Becoming a First-Time Buyer in Leamington Spa
Buying your first home is a huge milestone. With the right preparation and guidance, the process can be far smoother. If you’d like personalised advice, Chris Hazell Mortgages helps many first-time buyers in Leamington Spa each year. To book a call with an expert adviser click here.
Important Information
- Your home may be repossessed if you do not keep up repayments on your mortgage.
- This article provides general information only and does not constitute personal financial advice. Speak with a qualified mortgage adviser before making decisions.
- Chris Hazell Mortgages Ltd is an appointed representative of Fear Financial Ltd, which is authorised and regulated by the Financial Conduct Authority under FRN 1012718. The FCA regulates financial services in the UK and you can check our authorisation and permitted activities on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register. Our Financial Services Register number is 1034288