Getting on the property ladder is a major milestone, but it can feel daunting especially with rising house prices and changing mortgage rates. Continue reading “How to Get on the Property Ladder in 2025”
Category: First time buyers
Getting Mortgage Ready: A Guide for First-Time Buyers
Your borrowing capacity hinges on your income, expenditures, and the size of your deposit. When you apply for a mortgage, lenders will conduct a thorough assessment of your financial situation to determine what you can comfortably repay. Continue reading “Getting Mortgage Ready: A Guide for First-Time Buyers”
First time buyers – what to expect in 2023
After nine years, the Help to Buy scheme is coming to an end. With the application deadline having already passed – the attention for first time buyers now turns to the available alternatives. Continue reading “First time buyers – what to expect in 2023”
The government’s pledge to combat declining homeownership rates
Between 1996 and 2016, the percentage of 25 to 34-year-olds who own their own homes has fallen 19% from 55% to 34%. In a bid to combat this, prime minister Boris Johnson has set out plans that include proposals for housing benefit being able to be counted towards a mortgage. The prime minister vowed to “turn benefits to bricks”, saying it is unfair that homeownership is dominated by over 65-year-olds. Continue reading “The government’s pledge to combat declining homeownership rates”
First homes: is now the time to buy?
Although it is likely that interest and mortgage rates will increase as we hopefully head towards the light at the end of the COVID tunnel, there are still plenty of rates currently at an all-time low. The stamp duty holiday may be over, however the housing market is still in an exceedingly positive place with high demand and low interest rates. Continue reading “First homes: is now the time to buy?”
First time buyers: what are the options?
2021 has seen some welcome good news in the first-time buyer market, with mortgage affordability for people buying their first home improving by 20% since the turn of the year according to Mortgage Broker Tools’ latest index. We take a look at some of the newer options available to first-time buyers that can help to get you on the property ladder. Continue reading “First time buyers: what are the options?”
Gifted deposits: how do they work?
So, you’re looking to buy your first property. You’ve been renting for a few years now and you haven’t been able to put enough money aside for a deposit. You’re frustrated because you know that most monthly mortgage payments seldom differ greatly to the current monthly rent payment you’ve been making for years but without a deposit – you’re stuck. If any of that sounds in any way familiar, then this article is for you. Continue reading “Gifted deposits: how do they work?”
The highs and lows of Help to Buy
The government has recently launched the latest version of the Help to Buy: Equity Loan scheme. You might be wondering if it’s right for you. So, here is our handy guide to the benefits and considerations of Help to Buy. Continue reading “The highs and lows of Help to Buy”
Budget Breakdown: Can you get a mortgage with a 5% deposit?
Last month, the government announced a new Budget and as part of it, they announced a plan to encourage the return of the 5% deposit mortgage. And, good news for all you prospective buyers with less than the largest nest eggs, the plan is set to start this month! Continue reading “Budget Breakdown: Can you get a mortgage with a 5% deposit?”