First time buyer mortgage availability is improved by Help to Buy.
First time buyer mortgages are essential to a healthy housing market, and the Help to buy scheme could be set to make a first time purchase possible for so many more buyers.
For the last few years smaller deposit first time buyers have struggled. Up until recently many had little chance of realising their home-owning dream as saving more than a 5% deposit was proving difficult.
However help is on hand in the form of a new government scheme.
First time buyers with a 5% deposit are to be loaned a further 20% of the property's value, this means buyers are now able to get access to deals with a 25% deposit which making rates far more competitive.
If you are a first time buyer, contact Deal Direct for expert help in finding the most appropriate and affordable Help to Buy mortgage.
There are various products currently available and it is hoped that as the scheme progresses many more lenders will sign up. The latest lender to join is the Nationwide who have launched several deals including a 2 year fixed rate deal at 2.54%. Fees are set at £400 for first time buyers.
To review all lenders offers call an adviser on 0800 048 8828.
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