Starting this month borrowers will be able to choose from an increased range of “help to buy” mortgages with Aldermore and Virgin Money both committing to the Government backed Help to buy scheme. With this announcement we will see the total number of lenders offering the help to buy option increase to five. Others banks and building societies have also intimated that they will be offering help to buy products in the coming months. Continue reading New Mortgage lenders announced for Help to Buy scheme
Tag: Help to Buy
The Help to buy mortgage scheme was first announced in the Government Budget of 2013. Essentially designed to help any person who is finding purchasing their first home difficult. Two of the Main elements to bare in mind are that this scheme is restricted to the purchase of new build homes and that the purchaser is only required to raise 5% of the value of the property as a deposit. Continue reading Independent mortgage advice on the “Help to Buy” Scheme
Not everyone has the facility to save a large deposit for a new home. However with the addition of the government backed “Help to Buy” scheme, some qualifying borrowers now have the facility to apply for loans on new-build properties worth up to £600,000. Borrowers now only have to put down a minimum 5% deposit, they can then gain up to 20% with an equity loan from the “Home and Communities Agency“. Continue reading Government Backed “Help to Buy” mortgages a helping hand !
Today the Bank of England announced the fall to 3.43% on average mortgage rates (occurring in the three months to June) this is down from 3.47% the last quarter. New mortgage rates also fell from 3.65% to 3.47%.
Today according to the Bank of England it was revealed that in February mortgage approvals fell to a five-month low with a figure of near 52 thousand approvals. This makes it the lowest number since September 2012 and comes at a time when the market was showing signs of an increase in activity.