There are now over 150 mortgage deals offering 90% mortgages to first time buyers. The figures have doubled in 9 months, and there are more on the way, according to the Bank of England.
Posts Tagged ‘Mortgages’
Spring looks rosy for first-time buyer mortgage deals
Wednesday, April 7th, 2010FSA tightens up on Building Society mortgage deals
Tuesday, March 30th, 2010The Financial Services Authority has warned building societies to further restrain mortgage lending and limit the size of mortgage deals. The move is intended to prevent borrowers from saddling themselves with debt which, while affordable today, could become unsustainable if interest rates were to rise.
First time buyers’ mortgages still tricky, despite budget break
Thursday, March 25th, 2010
The average house price for first time buyers is currently four times the national average wage, compared with 2.9 times the average wage in 1990. With a first time buyer mortgage more out of reach than ever, many are delaying marriage and family, according to new data from the National Housing Federation.
Stamp duty budget changes will drive first time buyer mortgages market
Wednesday, March 24th, 2010The Chancellor Alistair Darling has announced budget changes removing stamp duty on home purchases up to a value of £250,000. This applies to first time buyers only, but should drive sales of first time buyer mortgages. Stamp duty of 1% currently applies to all homes over £125,000 in value.
Mortgage rates stable as Bank of England holds fast
Thursday, March 4th, 2010
The Bank of England has today decided to hold interest rates at the historic low of 0.5%. Customers seeking first time buyer mortgages right now are being advised to seek quality independent financial advice. An independent mortgage advisor, with their ‘whole of market’ approach, can find the very best mortgages based on the whole of the UK market, and will on average save you almost £1,000 on your annual mortgage repayments.
CGT rise could hit buy to let owners
Friday, February 26th, 2010Hints of a possible rise in Capital Gains Tax have provoked a flurry of selling of buy to let properties, which are currently subject to CGT at 18%. Any increase would take effect from April 6th.
Mortgage lending decline is seasonal
Wednesday, February 24th, 2010Ignore the tabloids! The January slump in mortgage lending does not mean a slide back into recession. Slack demand for mortgage deals is a normal seasonal feature at the start of every year, and this year was greater than usual due to the number of buyers who rushed through their mortgage deal, to qualify for the favourable rates of stamp duty in December.
Halifax Guarantor Mortgages Withdrawn
Monday, February 22nd, 2010
Halifax is changing its policy on parents paying deposits on mortgages for their children. In future, parents must pay the mortgage deposit into an account at Halifax parent, Lloyds.
Melting snows reveal great remortgage deals
Wednesday, February 10th, 2010
As we emerge from a snowy January, the climate is particularly favourable for those seeking a remortgage. Lenders are competing for the business of mortgage holders with significant equity built up in their homes.
‘Horses for courses’: mortgage advice key in current low-interest market
Wednesday, January 27th, 2010Many borrowers are opting for tracker mortgages at the moment, in the expectation of enjoying rock-bottom interest rates during the remainder of 2010. Choosing the right mortgage for you depends on your mortgage priorities, however, and the only essential is taking good, independent financial advice. It really is “horses for courses”, when considering the various types of mortgage!
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. We offer the option to pay for mortgage advice by way of a fee. This may vary depending on circumstances but is typically £500, contact us to discuss your remortgage and mortgage options with one of our mortgage brokers.
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