We offer free and independent advice to all borrowers - whatever your situation.
There are various schemes in order to assist First time buyers who are trying to get on the housing ladder.
100% Mortgages
Dependent on good credit history, it is possible to obtain 100% or even 125% of the purchase price thereby negating the need for a deposit. Expect to pay slightly higher rates for this type of mortgage.
Guarantor mortgages
Some lenders have schemes whereby the parents or another family member can assist first time buyers by having their income taken into account when calculating mortgage borrowing limits.
Shared Ownership
Some lenders offer mortgages for people buying a share of a property. This is typically in conjunction with a housing association and rent is normally paid for their share.
Key worker Schemes
This is a Government incentive designed to help certain employees (eg Nurses, Teachers) to afford their first home. An amount will be made available which can be used as a deposit therefore resulting in higher spending power. During the term there is no interest to be paid. The amount repaid is calculated when the property is sold and is based on the percentage of the capital growth (ie If the initial amount granted was 50% of the purchase price then the amount to be repaid will be 50% of the sale price).