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Confused First Time Buyer

Hi everyone, I'm hoping you can help me out here as I'm a bit confused.

So I'll be moving out of my folk's place around the turn of the year - once Covid is (hopefully) more-or-less behind us - and I've been thinking it probably would make more sense to buy rather than rent.

I can afford to put a deposit down of £25-30K, and since I'm still young I figured I could take out a 25-30 year mortgage to cover the rest (which I can remortgage as my income increases). Now, the amount I can borrow is what's causing the confusion. I tried out the calculator on moneyadviceservice.org which takes account of your salary, bills etc, and it concluded I could take out a mortgage of around 90K in value - meaning I'd be looking at houses in the 115-120K range.

Other sites say first time buyers can pay as little as 5% as a deposit and take out a mortgage for the remaining 95%. So which is it?

submitted by /u/Redbury
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source https://www.reddit.com/r/RealEstate/comments/hhdaa6/confused_first_time_buyer/
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