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 MoreFTB mortgages up to 17% cheaper than renting, Lloyds says
Tag: ftb
First time buyers ‘returning to The Smoke’ reveals Rightmove
New analysis by the portal reveals many first-time buyers are looking at properties in cities albeit not in uber-expensive London.
Read MoreHSBC relaxes affordability tests to boost FTB lending by up to £39,000
HSBC has eased stress test calculations for homebuyers and remortgagers, adding that the move will mean some first-time buyers will be able to borrow an extra £39,000.
Read MoreRegulators to consult over mortgage 4.5 times salary LTI threshold
Regulators will consult over raising the loan-to-income flow limit threshold in mortgage lending.
Read MoreSome mortgage rates cut below 4% as competition picks up
Two major lenders launched mortgage deals on Thursday with interest rates of less than 4%, as competition picks up in the sector.
Read MoreNationwide’s new mortgage rule gives first-time buyers less of a helping hand
Nationwide has dealt first-time buyers on modest incomes a blow by upping the minimum income threshold on its sole applicant Helping Hand mortgage from £35,000 to £40,000.
Read MoreIncreasing mortgage options for first time buyers
Whilst affordability remains the biggest stumbling block for those wishing to get onto the property ladder, interest rates have reduced and there are plenty of mortgage options available for first time buyers, according to financial service Defaqto.
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