UK Mortgage & Property Related News
First-time buyers will be able to apply for a mortgage with just a £30,000 salary with Nationwide (NBS.L) as the government and Bank of England push for more relaxed lending rules.
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Mortgages offered through the scheme will mean first-time buyers and home movers can buy a home with a deposit of just 5%.
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The mortgage guarantee scheme which helps buyers with a small deposit purchase a property is being extended permanently, the government revealed yesterday.
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More than 53,000 mortgages have been completed using scheme, which encourages lenders to offer up to 95% loans.
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