How much can you afford as a first-time buyer?

TL;DR

A free calculator from Mortgage Advice Bureau can help determine borrowing capacity for first-time buyers.
Flat property prices in the UK are beneficial for first-time buyers as deposits don't need to keep pace with rising costs.
Lenders typically require a 5% to 10% deposit, meaning £12,500 to £25,000 for a £250,000 property.
Lifetime ISAs offer a government bonus of 25% on savings up to £4,000 per tax year.
Skipton Building Society and April Mortgages offer no-deposit mortgages, but these carry a higher risk of negative equity.
The Shared Ownership scheme allows buyers to purchase a portion of a property, paying rent on the remainder, but can involve service charges and eviction risks.
The First Homes scheme offers discounts (30%-50%) on new builds for key workers, with price caps outside London.

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