Mortgages for First Time Buyers
Buying your first home is an exciting milestone, but it can also feel overwhelming. Our goal is to make the process as straightforward and transparent as possible, guiding you from start to finish so you feel confident and informed every step of the way.
We can put you in touch with trusted local solicitors to help handle the legal aspects of your purchase. As this may be one of the most significant financial commitments you’ll ever make, it’s vital that everything is done with clarity and care.
While mortgage availability and lending criteria can vary over time, we remain up to date with the latest offerings. With access to a wide range of lenders and mortgage products across the market, we’ll work to find the most suitable option for your circumstances—whatever your situation.
Getting on the ladder
There are actually some advantages to being a first-time buyer. Interest rates are currently very low, and first-time buyers are more appealing to sellers because they are not in a chain.
As we have access to many lenders we are well placed to assist you, however, these days it is a necessity to provide a substantial deposit in order to get a mortgage (although there are a number of 95 per cent mortgage deals around), and you may be eligible for further assistance from the Help to Buy Scheme.
Shared Ownership Scheme
If you’re looking to buy your first home but are finding full ownership out of reach, the Shared Ownership scheme could offer a practical and affordable way forward. Available across various parts of the UK, Shared Ownership allows you to purchase a share of a property—typically between 25% and 75%—and pay rent on the remaining share.
Because you only need a mortgage for the portion you’re buying, the deposit required is significantly lower than with a traditional purchase. This makes Shared Ownership a popular option for first-time buyers, key workers, and those on moderate incomes who want to step onto the property ladder.
Over time, you may have the option to purchase more shares in your home, known as ‘staircasing,’ which can eventually lead to full ownership.
We can help you explore whether Shared Ownership is the right fit for your circumstances, and guide you through the steps needed to secure a home through the scheme. We’ll also work with trusted solicitors and search the mortgage market to find a solution that suits your budget and long-term goals.
At Blestium Financial Services, we can help find the right mortgage for you, get in touch to find out more.
