Hastings and neighbouring St Leonards are becoming increasingly popular with first-time buyers. With Victorian terraces, seaside flats, and ongoing regeneration projects, the area offers both affordability and long-term growth potential. But navigating the mortgage process as a first-time buyer can feel daunting. This guide explains everything you need to know — from deposits to lenders, paperwork to pitfalls — so you can step onto the property ladder with confidence.
Why Choose Hastings or St Leonards?
Compared to Brighton or London, Hastings offers more accessible prices, while still benefiting from coastal living, improved transport links, and a lively arts and cultural scene. For first-time buyers, this means you can get more space for your money without sacrificing lifestyle appeal.
Step 1 – Work Out Your Budget
Lenders generally allow borrowing of 4–4.5 times annual income, subject to affordability checks. For example:
- Single income £30,000 = ~£120,000–£135,000 borrowing power
- Couple earning £60,000 combined = ~£240,000–£270,000
Add your deposit and you’ll see your realistic price range. For instance, a £25,000 deposit added to £240,000 borrowing gives a budget of £265,000 — enough for many Hastings flats or starter houses. For tailored figures, see our First-Time Buyer Mortgages page.
Step 2 – Saving Your Deposit (and Extra Costs)
Most lenders want at least 5–10% deposit. Bigger deposits unlock better rates. But don’t forget the other costs:
- Stamp Duty: First-time buyers pay nothing on the first £425,000
- Solicitors: £1,000–£1,800
- Surveys: £300–£700
- Moving expenses: £500–£1,500+
Tip: If eligible, use a Lifetime ISA — the government adds 25% bonus up to £1,000 per year.
Step 3 – Prepare Your Paperwork
Getting organised early avoids delays. Have ready:
- 3 months’ payslips and bank statements
- Proof of ID and address
- For self-employed: 2 years’ SA302s/accounts (some lenders accept 1 year)
Keeping credit card balances low and avoiding new borrowing before applying will also improve your profile.
Step 4 – Choosing the Right Mortgage Product
Options include:
- Fixed-rate: Locks in payments for 2–5 years; ideal for budgeting
- Tracker: Moves with Bank of England base rate; flexible but variable
- 95% LTV: Allows smaller deposit, but at higher rates
- Family-assisted: Parents’ savings or equity can support your application
Step 5 – Schemes for First-Time Buyers
Government-backed routes include:
- First Homes scheme: Discounted new builds for local buyers
- Shared ownership: Buy a percentage, rent the rest
- Lifetime ISA: Save with a government bonus
These can all help stretch budgets. See more detail on our First-Time Buyer Mortgages page.
Step 6 – Local Property Considerations
- Seafront flats: Attractive but watch out for service charges, ground rent, and cladding issues
- Victorian terraces in Hastings: Check for damp, roof repairs, insulation upgrades
- Regeneration zones in St Leonards: Good growth potential but lenders may want clarity on planning
Step 7 – EPC and Energy Efficiency
Properties must meet EPC band E or higher. Many older Hastings homes may need upgrades. Factor in costs for insulation or modern heating, which also reduce long-term bills.
Step 8 – Secure an Agreement in Principle (AIP)
Having an AIP makes you a stronger buyer and sets a realistic ceiling. In fast-moving areas like Hastings Old Town, it can help secure your dream home before others step in.
Step 9 – Build Your Support Team
You’ll need:
- Solicitor/conveyancer: To manage contracts and searches
- Surveyor: To assess property condition
- Mortgage adviser: To compare products and manage the application
We’ll connect you with FCA-regulated advisers who understand both national lending rules and Hastings’ property market.
Step 10 – Mistakes to Avoid
- Stretching budget without a buffer for repairs
- Overlooking lease issues on flats
- Skipping surveys to save money
- Assuming the first lender is the best choice
Hastings First-Time Buyer FAQs
How much deposit do I need?
As little as 5%, though 10%+ gets better rates and more lender choice.
Can I buy if I’m self-employed?
Yes — usually with 2 years of accounts. Some lenders accept 1 year with strong performance.
Do I pay Stamp Duty?
No for first-time buyers up to £425,000. Reduced rates apply up to £625,000.
How long does it take?
Typically 8–12 weeks, depending on surveys, searches and chain complexity.
What areas suit first-time buyers best?
St Leonards for value and regeneration, Old Town for character terraces, and town-centre flats for commuter convenience.
Next Steps
Hastings and St Leonards give first-time buyers a rare balance of affordability and potential growth. To get started, explore our First-Time Buyer Mortgages page or request a callback. We’ll connect you with an FCA-regulated adviser who can help you secure the right deal.