Halifax lowers income required to qualify for First Time Buyer Boost – Mortgage Guide

by Aaron Strutt

Nov 27 2025

What Is the Halifax First Time Buyer Boost Mortgage?

The Halifax First Time Buyer Boost is a mortgage product designed to help first-time buyers borrow up to 5.5× their household income, allowing them to purchase a home that may have been out of reach with standard affordability limits. It is aimed at buyers with solid income and a minimum 10% deposit.

From 5 December, Halifax is increasing the number of customers who can borrow up to 5.5x their income with the First Time Buyer Boost, by reducing the minimum household income required. The lender is also removing the specific loan-to-income (LTI) limits for self-employed incomes, meaning many self-employed customers will be able to borrow more. 

Halifax is making £1bn in extra lending available as part of these changes to help more first-time buyers onto the property ladder. This increases the total pledge since First Time Buyer Boost was launched in August 2024 to £9bn.

Key changes

• For First-Time Buyer Boost the minimum household income is being reduced from £50,000 to £40,000

• Self-employed borrowers can now access the First-Time Buyer Boost scheme

Aaron Strutt, product director at Trinity Financial, says: "The bigger banks and building societies offer 5 or 5.5 times salary mortgages and increasingly 6 to 6.5 times salary mortgages. Under Nationwide's Helping Hand scheme, mortgage borrowers must take out a five- or ten-year fixed-rate mortgage. Halifax also offers 5.5 times salary to first-time buyers and remortgaging customers, providing they earn between £75,000 and £125,000.

"Whether you opt to take an income stretch mortgage really depends on whether you need a high mortgage income, and the type and location of the property you are buying. HSBC has also gone pretty wild and started offering 6.5 times salary to higher earners; this is something I am still surprised that they are doing."

Key Eligibility Criteria

To qualify for the Halifax First Time Buyer Boost, applicants must:

• Be a first-time buyer (at least one person on the application).

• Have a combined employed income of £40,000+.

• Provide a minimum 10% deposit (up to 90% LTV).

• Be employed and self-employed.

• Purchase using a standard residential mortgage (not Shared Ownership, not Help to Buy, not Family Boost).

Benefits of Halifax First Time Buyer Boost

• Higher borrowing power – up to 5.5× income.

• Supports buyers in high-cost areas such as London and the South East.

• Helps first-time buyers get on the property ladder faster with a more generous income multiple.

How to Apply for Halifax First Time Buyer Boost

1. Check you meet the income, deposit, and first-time buyer criteria.

2. Calculate your potential borrowing at up to 5.5× income.

3. Compare Halifax mortgage rates and fees.

4. Apply through Halifax for Intermediaries and Trinity Financial for tailored advice and better product comparisons.

Is It Right for You?

The Halifax First Time Buyer Boost is ideal for:

• Employed first-time buyers with stable income.

• Households earning £40k+ who need a higher borrowing multiple.

• Buyers with at least a 10% deposit.

If you have a smaller deposit or are self-employed, other first-time buyer mortgage options may be more suitable.

Get expert mortgage advice from Trinity Financial

At Trinity Financial, our team of experienced London mortgage brokers specialises in helping borrowers secure the right deal. We work with all major lenders and can guide you through the full application process.

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation

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