First-time buyers were hard hit by tighter lending conditions in April, as loans for new buyers dropped to their lowest level for nine months. According to e.surv, part of the LSL Property group, mortgage approvals for house purchases fell to 49,165 last month, with the average deposit requirement rising to 40% as renewed fears over [...]
deposit
First-time buyers mortgage approvals fall on eurozone fears
First-time buyers were hard hit by tighter lending conditions in April, as loans for new buyers dropped to their lowest level for nine months. According to e.surv, part of the LSL Property group, mortgage approvals for house purchases fell to 49,165 last month, with the average deposit requirement rising to 40% as renewed fears over [...]
Home ownership goal stretched to aged 38
Brits with property-owning ambitions don’t expect to be able to buy their first home until aged 38, or 43 for Londoners, according to new research from moneysupermarket.com. With only 1,581 home loans currently available to first-time buyers (compared with 14,940 in July 2007) the average loan-to-value ratio stands at 77%, meaning new buyers aiming for [...]
Taylor Wimpey launches first-time buyer mortgage deal
Taylor Wimpey says it has negotiated an exclusive mortgage-guarantee scheme that can provide 95% loan-to-value mortgages for first-time buyers.
The house builder’s Take5 deal, backed by Melton Mowbray Building Society and Saffron Building Society, means that a two-bedroom home can be secured with a deposit of just £5,750, compared with the UK average of £28,770.
Loans are [...]
First-time buyer affordability hits 12-year high
First-time buyer mortgage affordability has hit a 12-year high, according to new research from Halifax, with monthly mortgage costs as a proportion of income standing at 27%, the lowest proportion since December 1998.
House prices falls and declining mortgage rates also mean that 40% of the UK’s local authorities are affordable for first-time buyers, compared with [...]
