The Skipton Building Society have just launched the UK’s first 100% mortgage exclusively for renters who are also first time buyers, aged 21 and over, and are not purchasing a new build flat. This blog aims to help outline how this scheme works and also some of the potential downsides.
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When preparing to buy your first home, saving for a deposit can be a difficult process.
As house prices, inflation, cost of living and mortgage rates increase, it can mean that some mortgage lenders may require larger deposits of the property value. This can be challenging trying to save a large sum of money and for some within a limited time.
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The previous Government Help to Buy equity loan closed to new applicants on October 31st, 2022.
If you’re a buyer eligible for the equity loan, and submitted your application before the cut off, your homebuilder must finish building your home by Saturday 31st December 2022. You must then legally complete and get the keys to your new property by 6pm on Friday 31st March 2023. It has been confirmed that there will be no extensions or exceptions.
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With affordability tests being revised in the wake of the cost-of-living crisis currently happening in the UK, many prospective buyers are looking for ways to improve their chances at securing the best possible mortgage for them.
With house prices still at a high, improving your affordability can be a great way of increasing your chances of securing a mortgage – especially for first time buyers looking to raise a deposit for their first home. Here, we take a look at the most effective ways you can improve your affordability.
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I have recently been fortunate enough to be in a position to purchase my first property. With no previous experience in securing a loan or mortgage, I turned to an adviser in Temple Mortgage to guide me through the process – and I was pleasantly surprised at how simple and easy the process was!
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A government scheme aimed at helping first time buyers get on to the property ladder has been extended for 2021.
The Help to Buy scheme has been running since 2013, with the aim of helping those unable to afford a deposit for a property. This is done by offering a Government supported equity loan to cover the majority of the deposit.
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Being a first time buyer can be confusing at the best of times, and the current coronavirus pandemic brings even more challenges. But don’t panic. There are still ways that you can buy a home and we are here to tell you what they are.
At the start of the 2020, there was a record number of 95% LTV mortgage options, meaning lots of lenders were happy with a 5% deposit. But those golden days have temporarily disappeared for now thanks to covid.
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