Category: first time buyers

First Time Buyers, Contractors and New Lenders!

A fantastic product has been launched aimed at First Time Buyers.  The 95% loan to value product has a discounted rate for two years from the lenders variable rate and no lender arrangement fees on completion.  Comparing this to an average range  mortgage, this is a saving of around £1k.  The lender has no early […]

Think of number one when it comes to your monthly mortgage costs.

SWAP rates (the mechanism through which lenders can acquire a fixed price for funding over a specific period of time) have dropped to a ten month low and as such some lenders are passing on the reduction through their interest rate offerings.  Just in the last few days we’ve seen Natwest cut some rates by […]

Some Lenders reduce income multiples

Quite a few rates have been increased over the last ten days and some further criteria restrictions implemented.   In quite a significant move, Nationwide has limited their overall income multiples to a max of 4.75% times income for all residential loans.  This follows recent guidelines from the Bank of England allowing only 15% of all […]

Buy to Lets now with just a 15% deposit

The Buy to Let market is buoyant as First Time Buyers continue to find it hard to obtain mortgage finance and turn to renting.   More lenders have entered the sector and many are seeking criteria niches in addition to competitive pricing, to attract new customers. Buy to Let mortgages are now available with as little […]

Parental support might help achieve your dream home

Horsham is a popular location and as a result scores highly in the property price stakes. That said there are many ‘would be’ homebuyers with an appetite more expansive than their budget and this can be a deal breaker if income and deposits do not meet lender criteria. This is where parental support can help. […]

Interviews over 2 hours and keep an eye on your Interest Only mortgage..

So the new MMR (Mortgage Market Review) regulations are now in force and the mortgage market has not ground to a halt, despite what some pundits insinuated it might!  It’s business as usual, albeit a little more intrusive and the process may be taking a little longer than before.  Some customers are reporting that the […]

Help to Buy New Build extended and FTB mortgages increasing!

Good news for those looking to buy a new build property, Help to Buy phase one is being extended to the end of the decade.  The first phase of Help to Buy allows borrowers with a 5% deposit and  75% mortgage to secure up to a 20% loan from the Government for the remainder. The […]

Are you financially prepared for a rate rise over the next two years?

Many first time buyers engage the involvement of family members when it comes to purchasing their first property.   Either parents look to act as Guarantors to the mortgage, so giving the lender additional financial security.  Or it could be that they are ‘gifting’ the deposit towards the new purchase. Gifted deposits can come from immediate […]

Age is not an issue when it comes to mortgages.

You may have seen last week’s Watchdog where an article covered the maximum age that most high street lenders will allow customers to keep their current mortgage to.   The report, in the main, suggested that on the high street the term of a mortgage must finish when a customer’s age reaches 70.  A small number […]

Saffron back, House Prices up, Consumer confidence on the rise!

We’re delighted that the Saffron Building Society has relaunched in to the mortgage market after a few weeks rest.  The new suite of products include a 95% First Time Buyer product along with a range of other niche products such as an Expat Buy to Let, a mortgage aimed at Professionals and Contractors, a Self […]