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First time buyer
mortgages

Take your first step on the property ladder with the help of our expert advisors

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Explore your first time buyer options

Navigating a mortgage when you’ve never done it before is scary. There are so many mortgage deals on the high street to choose from – and those aren’t your only first time buyer options!

A mortgage broker has access to lots of specialist lenders and deals that aren’t available to you directly. They can help you find the very best deal for your circumstances: with over 20,000 mortgage deals from 130 lenders, there is plenty of choice.

Your mortgage advisor knows these lenders inside-out and backwards, too. They’ll know which ones are likely to accept your first time buyer mortgage application based on your needs and circumstances – so you won’t risk getting rejected.

We take the stress out of mortgage stuff for you, so you can enjoy the excitement of finding and buying your first home. Once you’ve chatted with us and filled out an easy form, all you need to do is upload your documents using our online tool. We’ll handle everything after that – the only thing left for you to do is accept the mortgage offer!

How much can I borrow?

How much will my mortgage cost?

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Whole of market

We offer independent mortgage advice across the whole market – not just what you can find on the high street.

  • Access to over 130 lenders
  • Choice of over 20,000 deals

All this means we’ll always guarantee to find you the best first time buyer deal available.

Always available

We work around your busy life to make getting a mortgage as easy as possible.

  • Contact us in the way you prefer: phone, email, Whatsapp, or face-to-face.

You don’t need to faff with the Post Office queue either:

  • Upload all your documents using our 24/7 online upload tool.

We do the hard work

Without a broker, you’ll miss out on exclusive deals you can’t find on the high street.

We’re experts on lender criteria:

  • We’ll research and recommend only the most suitable options for you.
  • We’ll also complete all the paperwork for you, to make sure your mortgage application is successful.

Why choose us

Why Choose Us

First time buyer schemes

Help to Buy

You don’t need a huge deposit to buy your first home! The Help to Buy scheme lets you get on the property ladder with as little as 5% deposit. 

You may also be eligible for up to 20% equity loan from the Government, and a mortgage up to 75% of the purchase price. The Help to Buy equity loan is interest-free for five years – giving you breathing space before repayments.  

We’re Help to Buy experts and can guide you through the whole process, including managing all the paperwork for you.

Shared Ownership

Get on the property ladder with a Shared Ownership scheme. We’ll help you find out more about affordability requirements and explain in detail how shared ownership works so that you can get your first home with ease. 

Buy as little as 25% of your first home through a Shared Ownership first time buyer scheme, and pay rent on the rest. Over time, you can buy up to 100% ownership of the property. 

Learn more

Right to Buy

If you’ve been in council housing for a certain period of time, you could buy your home at a discounted price.

We’ll help you find out more about the mortgage options available to you, and assist with the complex application process. If you’re unsure about how it all works, we’re here any time to talk you through the details.

We can liaise with your local authority to make sure all the paperwork is accurate – so you can own the home you already call home.

Learn more

Independent mortgage brokers serving the entire UK

We don’t think you should waste time filling out forms that aren’t relevant to your mortgage needs.

That’s why we like to speak to you first and build a personal relationship, so you can remain assured you’re getting the best service.

Get personalised mortgage advice today

0208 835 7036





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    All about first time buyer mortgages

    As a first-time buyer, you may have already looked for information online or have asked friends and family about buying a property. It’s quite a lot to take in and you may wonder where to even start.

    You’re trying to find out how much you could borrow, what first-time buyer options you have and how the whole process works.

    During our initial chat, we can answer all your questions and guide you through the whole process to make sure your step onto the property ladder be a smooth and stress-free experience.

    An important question to ask, not so simple to answer. It will depend on your income, outgoings, credit history, age, dependants, the property you’d like to buy and other factors.

    There is no single rule that lenders follow when assessing your first-time buyer mortgage application. In fact, lenders tend to offer different mortgage amounts even when you present them with the same information.

    For this reason, a mortgage broker can help you find out exactly how much you could borrow. We have the tools to check your maximum borrowing for Help to Buy, Shared Ownership or even just a “normal” purchase without using any scheme.

    4 things will influence the answer: the mortgage amount, the interest rate, the mortgage term and whether the mortgage is on a repayment or interest-only basis.

    Mortgage amount

    Every lender has a different way of calculating the maximum mortgage amount they are willing to lend. But as a rough guide, you can normally borrow 4 to 5 times of your income.

    Mortgage interest rate

    This is the interest rate you pay on the mortgage loan. The less deposit you have, the higher the interest rate will be, so it’s worth saving up if you can.

    Mortgage term

    In other words, how long will you have the mortgage for? 10 years, 25 years or perhaps 40 years? The longer it is, the cheaper your monthly payment will be, but you’ll pay more interest over a longer period.

    Payment method

    You can take out a mortgage on a repayment or interest-only basis.

    With the repayment method, your monthly payment reduces your mortgage balance while also paying interest on the loan. This ensures that you repay the full mortgage amount by the end of the mortgage term and become a mortgage-free homeowner.

    With an interest-only mortgage, your monthly payments only cover the interest on the mortgage amount. Lenders don’t normally offer this type of mortgage when you buy a property for you to move in. And even when they offer this option, they attach various terms and conditions to it.

    As a general rule, the more deposit you have, the better position you are in. Having a large deposit can potentially increase the number of lenders to choose from and could get you a lower interest rate as well.

    In some cases, you don’t need any cash deposit at all. For example, if you buy from a family member at a discounted purchase price, then lenders will consider the discount amount as a deposit without you putting any of your own cash into the purchase. Another example is the Right to Buy scheme, where some lenders just accept the scheme purchase discount as a deposit.

    In other cases, you would typically need a minimum 5% deposit. This is true when lenders offer 95% mortgages and for schemes like the Help to Buy equity loan scheme or Shared Ownership.

    The minimum deposit amount may also depend on the property, for example, several lenders require 15-30% deposit for a new build property or an ex-council flat.

    Some lenders would cap your borrowing at 80-85% if you’re a contractor, or at 70-75% if you’re a visa holder.

    The short answer: it depends on all parties involved, although we can give you some general guidance.

    New build property

    The developer usually asks for an exchange of contracts within 28 days after you reserve a property. You then complete the purchase and receive the keys to the property once it is ready to move in.

    During those 28 days, the mortgage process and the legal checks have to be completed. However, if there is a genuine delay, the developer normally accepts an extended period.

    Non-new build property

    Lenders normally take 2 to 3 weeks to issue a mortgage offer, although we’ve seen lenders issue offers after a few days as well as after a few months.

    The legal process normally takes 2 to 3 months. However, if the seller is also buying a property and thus there is a chain, it can take several months before everyone in the chain is ready to exchange contracts and then complete the purchase.

    Jargon buster: “exchange of contracts” is when you pay your deposit and the purchase becomes legally binding, while “completion” is when the lender pays the rest of the purchase price to the seller and in return, they release the keys to you and you can move in.

    Being a first time buyer comes with a price tag and it might come as a surprise how the various costs can add up.

    To help you budget, we have put together a list of the typical costs that come with owning your home.

    Mortgage

    This is the payment you make monthly to the lender.

    Insurance

    Building insurance is compulsory when you buy a house, while contents insurance is optional. Contents insurance, however, can keep your belongings insured in case of a fire, flood, burglary or even accidental damage regardless of whether you buy a house or a flat. The good news is we can help you find the right insurance as well for free.

    Ground rent and service charge

    These are only applicable when you buy a flat. While the ground rent is normally a relatively small sum, the service charge is often around £100-£200 per month.

    Repairs and maintenance

    There will be wear and tear, which will have to be tended to, even if you buy a new build home, which comes with a 10-year warranty and will likely require little maintenance.

    When buying an older property, you may wish to consider the costs of repairing/maintaining the roof, windows, replacing old fixtures and fittings, annually servicing the boiler and similar cost items. The price tag will depend on the property, but some cost will be inevitable from time to time.

    Interest

    If you are using a Shared Equity scheme, like the Help to Buy scheme, then remember to check what interest you’ll have to pay in relation to the equity loan.

    Rent

    This cost is applicable if you are buying your home using the Shared Ownership scheme. Under this scheme, you will have to pay some rent to the housing association in relation to the share you don’t buy. The housing association or the estate agent will normally specify the amount in the sales particulars, so you can build it into your budget.

    Yes, although only from a handful of lenders. You’ll have to be able to show that you can afford the mortgage on a residential basis and that the property is really for investment purposes.

    As the rules around rental income taxation have changed a lot in recent years, you should speak to a tax advisor or an accountant before you pursue a buy to let mortgage.

    Yes, although not from every lender and some banks may restrict the mortgage amount or ask you for a larger deposit.

    If you don’t have a long credit history, it helps to make sure that your credit file is up to date and does reflect what you have: current account, mobile phone, utility account.

    It would also help if you are registered on the electoral roll (voter’s roll), as this can earn you much-needed brownie points with lenders. Some lenders would, in fact, reject you if you are not registered, so we recommend that you check if your registration is up to date before you apply for a first time buyer mortgage.

    Yes, although the lender options are limited, as most lenders would like you to be a British or EU citizen or have indefinite leave to remain.

    Those lenders who offer first time buyer mortgages to visa holders often require a minimum residency time in the UK, minimum time left on the visa or set a maximum loan to value limit.

    Building insurance

    If you buy a house, then building insurance will be mandatory to ensure that in case the structure is damaged (e.g. by fire, flood or movement), the insurance will cover at least the mortgage amount.

    Nothing else is compulsory, but of course, it makes sense to cover costly unexpected events.

    Contents insurance

    Contents insurance can pay for replacing your personal belongings if someone burgles your home, there is fire, you accidentally drop your new flat screen TV…and the list goes on.

    Life insurance

    Life insurance is a one-off payment if you were to die during the mortgage term, so the insurance can settle your mortgage. This would allow your family to stay in the property without worrying about mortgage payments at an already stressful time.

    Critical illness cover

    Critical illness cover would give you a lump-sum if you had a serious illness like cancer, heart attack or stroke as well as dozens of other conditions. This payment may or may not settle the mortgage, but it can help pay for treatment, let you take time off work while recovering or alter your home, if necessary.

    Income protection

    Income protection is designed to give you a monthly income for some time in case you can’t work due to an accident or a long term illness. This covers mental health issues as well.

    Of course, all the insurances come with terms and conditions, optional features and your medical history can influence your options.

    To find the right insurance cover that fits within your budget, speak to our team today. We can compare the whole market, find the most suitable cover and apply on your behalf free of charge.

    Mortgage tools

    Clients Reviews

    Mortgage calculators

    From working out how much you can afford to borrow to understanding how offset mortgages work, our calculators can help.

    Discover how much you could save by overpaying on your mortgage, or what monthly rent you’ll need to charge to cover a buy to let mortgage repayment, with our handy mortgage calculators.

    Mortgage calculators

    Mortgage finder

    Only looking at high street offers restricts how much you could borrow (and often means a more expensive mortgage, too).

    We have whole of market access to mortgage deals with over 130 lenders. That’s over 20,000 mortgage deals to choose from!

    Take a look with our mortgage finder tool to see some of the mortgage deals you could qualify for if you use our independent mortgage broker service.

    Mortgage finder

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    I would highly recommend the services of BlueWing Financials and would especially like to thank Lilla and Alexandra, our case handles.

    I was in the process of purchasing my first...
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    Ágnes Jakubisz
    17/05/2020

    I used BlueWing Financials to complete my house purchase recently and was incredibly pleased with one's service received. Everything ran smoothly and was explained clearly for me to understand. Lilla... read more

    Buza István Avatar
    Buza István
    17/05/2020

    I started dealing with BlueWing Financials in 2019 when I started looking for property deals and arranging for mortgage. Lilla was really helpful when I first got in touch and... read more

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    Ivan Bekriev
    01/03/2020

    Outstanding! Patient, detailed advice and really helpful. Nick went above and beyond through a challenging process and was always reassuring. Thank you!

    John Tween Avatar
    John Tween
    22/10/2019

    I highly recommend Lilla, Alex and the team, they've been extremely helpful with my mortgage process

    Gergely Szimandl Avatar
    Gergely Szimandl
    04/06/2019

    Thanks to Lilla, the process of buying our flat had been way easier than we expected and feared. She was super supportive and always ready to go the extra mile,... read more

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    Pierpaolo
    24/05/2019

    I am extremely happy with service, I received. Lilla is very helpful and thoughtful. She explained everything to me thoroughly, when I struggled with the legal terms. She is very... read more

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    Bernadett Domjan
    18/03/2019

    Very helpful and have provided me with 2 mortgages to date.

    Jerome Purrier Avatar
    Jerome Purrier
    14/01/2019

    I have worked with Lilla for many years and confidently refer her to other people in my network for her services. A true expert in her field, I've found that... read more

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    David Kidd
    07/01/2019

    I was first recommended to Lilla from my sister in law who had used her previously. I can’t thank her enough for putting her through to me.
    Lilla has been so...
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    Sophie Habibis Avatar
    Sophie Habibis
    15/12/2018

    I have been working with Lilla @ Bluewing Financials for 5 years now and cannot recommend her highly enough. Lilla has supported me in buying two properties and with various... read more

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    Simon Gray
    08/10/2018

    Very friendly and professional service. They answered all questions I had very quickly and talked me through the entire process. Fully recommend and will use for any future purchases.

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    Inan Tariq
    30/06/2020

    Thank you lilla, you managed not one but two mortgages. Even though these pandemic times. Highly recommend.

    Sue Norton Avatar
    Sue Norton
    19/06/2020

    Lilla and team have been great throughout the process. Very professional, responsive with great insight to the various considerations around identifying the right. They have been helpful even after submitting... read more

    Zsebo Greg Avatar
    Zsebo Greg
    02/03/2020

    Nicholas H went above and beyond for us, great communication, nothing was too much....Highly recommend! Thanks again bluewing for helping us to buy our first home!

    Jackson Gloster Avatar
    Jackson Gloster
    22/01/2020

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    Whole of market
    independent mortgage advice

    Here are some of the big – and small – mortgage lenders, and specialist mortgage providers, we work with to find you the best personalised deal.

    Get in touch

    Work with us how you choose: email, phone, Whatsapp, or face-to-face meetings. It’s up to you!

    Your personal mortgage broker will explain clearly the mortgage process and from a few questions about yourself, advise you on your options.

    Let us apply for you

    Your personal broker will structure your application the right way that guarantees you the best first time buyer mortgage deal.

    One simple questionnaire is all it takes for us to complete your paperwork for you.

    Get the mortgage

    Your advisor handles the entire application process. Liaising with your lender, solicitor and estate agent to make sure your mortgage application progresses smoothly.

    All you need to do is accept the mortgage offer and celebrate!

    Your 3 steps to a mortgage

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