THE Help To Buy scheme offers a way for Brits to get on the property ladder by reducing the amount of cash they need to stump up for a deposit to buy a home. Here's everything you need to know about the government's scheme to help first-time buyers. What are Help To Buy schemes? Do I qualify? Help To Buy is a government scheme designed to help people get on the property ladder without the need for the large, up-front deposit which puts most young buyers off. It consists of Help To Buy equity loans and Help To Buy ISAs, both designed to offer first-time buyers a way to make their deposit more affordable. Which? reports that to qualify, you must: Have a deposit of at least five per cent Be looking to buy a home worth £600,000 or less (this limit changes for Help To Buy ISAs) Be purchasing a property you intend to live in most of the time How do Help To Buy equity loans work? One of the most popular ways to get a foot on the housing ladder, Help To Buy equity loans can be used … [Read more...] about What’s the Help To Buy scheme, why might it be scrapped, how do the government ISAs and Equity Loans work and do first-time UK buyers get dibs?
Best loans for first time home buyers
Mortgage Myth Buster: First time buyer worries debunked! BelfastTelegraph.co.uk The mortgage process, with its many steps and decisions, can often feel overwhelming, especially for first time buyers. https://www.belfasttelegraph.co.uk/service/sponsored-articles/mortgage-myth-buster-first-time-buyer-worries-debunked-37062967.html https://www.belfasttelegraph.co.uk/incoming/article37062966.ece/2c4d6/AUTOCROP/h342/Patrick%20Greene%202%20-%20Bank%20of%20Ireland%20-%20Mortgage%20expert.jpg Email The mortgage process, with its many steps and decisions, can often feel overwhelming, especially for first time buyers. But there are experts who can help, like Bank of Ireland UK. They understand that when it comes to buying your own home it’s more than a mortgage; it’s about finding a place to call your own, your very own castle where you can decorate (and redecorate), have mates round and play music loud, somewhere you will pour your personality into. They want to work with … [Read more...] about Mortgage Myth Buster: First time buyer worries debunked!
YORKSHIRE Building Society has launched a new range of super-low mortgage deals - but you'll only be able to get them if you've got a Help To Buy ISA. YBS has launched four new deals for first-time buyers and two of them are the best deals out there. There are two two-year deals and two five-year offers but not all of them will leave you with more cash in your wallet. All you need is either a five per cent or 10 per cent deposit, although you'll need to pass all the correct credit checks too. You'll have to use the cash from your Help To Buy ISA though, which is the government scheme that gives first time buyers a 25 per cent bonus on top of their savings up to £12,000. So unfortunately, if your stumping up the cash from an ordinary savings account then you won't be able to get the deals. Plus, there's a £495 fee on all of the deals too that you need to take into account. We asked the boffins over at MoneyFacts.co.uk to check out the deals and see if they are any good - and … [Read more...] about Yorkshire Building Society launches two new best-buy mortgages for first-time buyers
M&S Bank has launched its first ever mortgage range - with deals aimed at helping first-time buyers get their foot on the property ladder. And to tempt would-be buyers, the bank is offering a £1,000 sweetner to those wanting to purchase their first home as it aims to bring "M&S-standard service" to the mortgage market. The first-time buyer range includes two and five-year fixed rate and two-year tracker mortgages - buyers will be able to get a deal with as little as a 10 per cent deposit, so on property worth £200,000 they will need to only find £20,000. The £1,000 cashback offer is currently the biggest on the market - double the amount of £500 you can get with Halifax and Nationwide and £700 more than you'll get back with Virgin Money. To get the best deals, you'll have to pay a £995 product fee but it's also offering a "fee saver" option where you can avoid the charge in exchange for a higher rate. The bank will also let up to four … [Read more...] about M&S Bank is launching mortgages and first-time buyers get £1,000 cashback
Keen to get on to the property ladder but unable to see how you can manage it without help? New mortgage products allow your family members to give you a leg up without gifting away their life savings, while developers are offering a range of incentives to hold down your moving costs. We’ve rounded up some of the latest offers. The average millennial has just £3,359 in accessible savings. That’s less than a tenth of the £51,821 deposit put down by the average first-time buyer, according to the Office for National Statistics. Everything you need to know when buying your first home 22 show all Everything you need to know when buying your first home 1/22 Before you can envisage settling into your first property, here's the nitty-gritty of what you need to know. Getty Images/Image Source 2/22 Dancer Matt Holland, 27, and Scott Jones, 30, an actor, say they couldn’t have got on to the property ladder without the Government’s 'Help to Buy' … [Read more...] about the Family Springboard mortgage is just one option for first-time buyers with a low deposit