Difficulties raising deposits for ever-inflating house prices are driving more aspiring homeowners to turn to shared ownership to get onto the property ladder, a mortgage lender has revealed today.
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FTB mortgages up to 17% cheaper than renting, Lloyds says
The average first-time buyer mortgage with a 5% deposit is typically up to 17% cheaper than renting, with an annual saving of £2,700 per year, a report has said.
Read MoreFirst-time buyer: How much can I borrow on my income?
Our mortgage expert Darren Polson is helping a reader who wonders how much they can borrow to make their first step onto the property ladder
Read MoreNationwide cuts mortgage rates as other lenders hold or raise deals
Best UK mortgage deals of the week, 9 October.
Read MoreMortgage rates creep back up as lenders show caution
Average mortgage rates have risen for the first time month-on-month since February as lenders approach the winter with caution.
Read MoreSelf-employed warned over looming mortgage deadline
Self-employed workers applying for a mortgage in the coming months are being reminded to file their tax return very soon in order to meet lenders’ requirements.
Read MoreFirst-time buyers with 5% deposit offered part interest-only mortgages
Lender Gen H will give them up to 80% of the loan on an interest-only basis.
Read MoreFirst-time buyers could save hundreds in sales plan, government says
Plans for a major reform of the house-buying system, which aim to cut costs, reduce delays and halve failed sales, have been unveiled by the government.
Read More‘Sweat equity’: homebuyers turn builders for £10k off their mortgage
In exchange for 500 hours of work, the schemes can provide more than just a route to home ownership.
Read MoreHSBC lowers mortgage rates as other lenders hold deals steady
Best UK mortgage deals of the week, 2 October.
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