Good News for first time buyers - 27.10.2008

Author: Michael Aglony Posted on: 27 October 2008

With recent reports confirming that house prices are still falling, this slump in the property market offers thousands of first time buyers their best chance of ownership in years as homes become more and more affordable. 

The good news is there are still mortgages available at 90% loan to value and a couple at 95% loan to value (although these mortgages are extremely limited) which means first time buyers don’t have to save for a huge deposit. There’s also no stamp duty on properties worth less than £175,000 which helps keep buying costs low.

There are also other first time buyer initiatives such as home buy and shared equity schemes to find out more please give us a call.

I would recommend that if you’re considering purchasing your first property speak to us first  to check how much you can borrow  and that you would fit to the lenders criteria.