First time buyers
Yorkshire Building Society has today cut the rate of its 75% LTV two-year tracker product by 0.60% to 3.79%
Last week’s Mortgage Solutions poll revealed that 55% of respondents thought that Santander’s decision to increase maximum loan-to-value amounts (LTVs) on new-build properties would have a marked effect on the first-time buyer sector.
The Government has allocated nearly £83m to build 5,700 new and affordable homes in the second round of its £1bn Kickstart scheme.
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The Bank of England has maintained interest rates at 0.5%, meaning the base rate has now been held for a year.
The Council of Mortgage Lenders (CML) has predicted that home ownership will continue to fall due to a combination of a chronic lack of housing supply and affordability problems for first-time buyers.
Valuations on residential houses grew by 61% in February compared to January, as the housing market began to recover from a subdued start in January.
Santander has lowered its maximum deposit sizes for first-time buyers of new-build properties, in a bid to increase housing market activity.
Reporter Stephen Quigley previews the latest issue of Mortgage Solutions.
Santander will increase the maximum loan sizes for first-time buyers of new build properties in a bid to increase housing market activity.
Consumer requests for mortgages have risen by 50% since January 2009, pointing towards increased activity in the mortgage market, according to the latest Advice Drivers report from professional advice website Unbiased.
First-time buyer loans hit a two-year high in December 2009, according to the Council of Mortgage Lenders (CML).
Lending for 2009 was down by 60% compared to 2007, despite an improvement in Q4, according to the latest figures from the Council of Mortgage Lenders (CML).
First-time-buyers and those on small deposits are being offered little incentive to enter the market, according to the latest Moneyfacts figures.
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