Halifax have revealed that a mortgage offering first time buyers a loan with only a five per cent deposit, but with a huge interest rate was never supposed to make it onto the system.
Halifax have revealed that a mortgage offering first time buyers a loan with only a five per cent deposit, but with a huge interest rate was never supposed to make it onto the system.
The number of different mortgage offers on the market has increased to its highest level for two and a half years, despite news that homeowners have increasingly turned down offers over that same period to concentrate on reducing their mortgage debt.
Buying a house is seemingly impossible without a huge deposit behind you and it’s no surprise that an entire generation of renters has appeared with the average first time buyer now a whopping 38.
The Council of Mortgage lenders have released figures which show the number of mortgages to home buyers was up by 8% in April, with the total number of mortgages at 40,900.
A large majority of Britons believe that house prices will stay level or continue to fall, rather than increase in the next year
Joint research from Legal and General and the Association of Mortgage Intermediaries found that only 44% of all UK mortgage holders, 11.3million of them, would visit a broker.
Bellway homes have revealed that an increase in consumer confidence in the UK property market has helped the firm increase their sales.
The price of renting a home in the UK is set to rise again in the next few months in a further blow to first time buyers desperately trying to save enough money to get their first mortgage.
Those looking to mortgage, or first time buyers looking to buy their first home will be encouraged by the news that fixed rate mortgages have hit a six month low
UK house prices increased very slightly in May, although not enough to make up for the large drop seen in April.
















