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Buying your first home is a big step and we’re here to help make it simple.
At Option Finance, we offer tailored mortgage advice and access to the whole market,
so you can get on the property ladder with confidence.
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Introduction to Shared Ownership Mortgages For many aspiring homeowners, saving for a full deposit or securing a large mortgage can be a major obstacle. Shared ownership mortgages offer a practical solution as part of the government-backed shared ownership scheme,...
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At Option Finance, technology doesn’t replace the personal touch—it enhances it. We use smart tools to handle the admin, so our team can focus on what really counts: listening to your story, understanding your needs, and securing the mortgage that’s right for you. Real people. Real support. No shortcuts.
At Option Finance, we specialise in mortgages for complex credit scenarios. Our team works with all major bad credit lenders and has access to exclusive deals that aren’t available on the high street.
Understanding one’s credit report from a credit reference agency can help in securing a mortgage.
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At Option Finance, we work with first-time buyers every day so we know the rules inside out.
To be classed as a first-time buyer in the UK, you must never have owned a property anywhere in the world not even through inheritance or a gift. If you’ve previously been named on a property title, even if you didn’t purchase it yourself, you won’t qualify under HMRC’s definition.
The main area this matters? Stamp duty. While most mortgage products are open to everyone, first-time buyers can access generous stamp duty discounts especially in England, Northern Ireland, and Scotland.
Generally, you’ll need at least 5% of the property’s value. But here’s the deal: the more you can put down, the better your options.
That’s because lenders work with something called Loan to Value (LTV). If you put down a 5% deposit, your LTV is 95%. Lower LTV = lower risk = better interest rates.
There are even zero deposit mortgages in some cases, but they’re not always the right fit. Our advisers can talk you through what’s best based on your budget and goals.
Rates vary depending on how much you borrow compared to your deposit. Even increasing your deposit by just 1% could unlock a better deal.
But with thousands of products on the market, trying to find the best deal yourself can feel overwhelming.
That’s where Option Finance comes in.
We make it simple by:
And the best bit? Our service is completely free. We’re an award-winning mortgage broker built on trust and results.
Most lenders offer 4 to 5 times your annual income, but that’s only part of the picture.
They’ll also look at your monthly outgoings, any existing credit, and how stable your income is. That’s why what you can borrow with one lender might look totally different with another.
At Option Finance, we know each lender’s criteria and help you match with the right one—saving you time and stress.
Yes! There are plenty of options that could make buying your first home easier:
Mortgage options for first-time buyers
Government & regional schemes
Not sure which option is right? Our advisers will help you figure it out.
In England and Northern Ireland, first-time buyers pay:
In Scotland, first-time buyers don’t pay Land and Buildings Transaction Tax (LBTT) on properties up to £175,000.
At Option Finance, we specialise in helping first-time buyers turn the dream of homeownership into a plan with expert guidance, no jargon, and zero fees.
Book a free call today and let’s take the first step together.
