'Lenders becoming more welcoming to first-time buyers'
27th February 2009
News on the Subject of Mortgages in the United Kingdom Brought to you by the SimpliGroup - Making sure that you are fully informed about the UK Financial Market
Prospective first-time buyers have been given a boost with the news that a number of lenders are starting to push up the loan-to-value (LTV) on their UK mortgages rates.
Just recently, a study carried out by the personal finance website unbiased.co.uk revealed that a significant proportion of would-be buyers are being overly pessimistic when it comes to getting a foot onto the property ladder, with many believing they will need to put down a deposit of 40 per cent when the reality is they will probably need just 20 per cent up-front.
Now, a leading estate agent has revealed that the prospects for first-time buyers are getting brighter by the day as lenders relax their criteria in a bid to get the market moving again.
Ed Mead, director of sales at Douglas & Gordon in London, explained: "There are one or two mortgage companies venturing back in to the 75 per cent plus loan-to-value market and there are one or two offering 90 per cent deals."
He added that, given the extent to which some lenders have had their 'fingers burnt' in recent months, this trend should be taken as a sign of confidence returning to the UK property market.
Looking for a Mortgage in the UK? Let Simplicity Financial Services help you get the right finance package to fit your needs. Get some guidance from us. (www.simplicityfinancial.com)
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UK Mortgages
27th February 2009
News on the Subject of Mortgages in the United Kingdom Brought to you by the SimpliGroup - Making sure that you are fully informed about the UK Financial Market
Prospective first-time buyers have been given a boost with the news that a number of lenders are starting to push up the loan-to-value (LTV) on their UK mortgages rates.
Just recently, a study carried out by the personal finance website unbiased.co.uk revealed that a significant proportion of would-be buyers are being overly pessimistic when it comes to getting a foot onto the property ladder, with many believing they will need to put down a deposit of 40 per cent when the reality is they will probably need just 20 per cent up-front.
Now, a leading estate agent has revealed that the prospects for first-time buyers are getting brighter by the day as lenders relax their criteria in a bid to get the market moving again.
Ed Mead, director of sales at Douglas & Gordon in London, explained: "There are one or two mortgage companies venturing back in to the 75 per cent plus loan-to-value market and there are one or two offering 90 per cent deals."
He added that, given the extent to which some lenders have had their 'fingers burnt' in recent months, this trend should be taken as a sign of confidence returning to the UK property market.
Looking for a Mortgage in the UK? Let Simplicity Financial Services help you get the right finance package to fit your needs. Get some guidance from us. (www.simplicityfinancial.com)
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