27th February 2021
Mortgage Guarantee to Help First Time Buyers with a 5% Deposit
It has been widely reported that next weeks budget announcement by the Chancellor will include support for first time buyers by offering a mortgage guarantee for buyers with a 5% deposit.
The intention for government is to provide incentive to mortgage lenders to offer more mortgages at 95%. The devil will be in the detail but all lenders should hopefully embrace this.
This will be another factor in favour of those wanting to take their first steps onto the housing ladder. We have record low interest rates and the stamp duty holiday is expected to be extended. So by reducing deposit levels required the timing could be perfect for first time buyers. These steps should also assist with stimulating the economy as the country tries to recover from the pandemic.
Starting on the housing ladder can be nervy as well an exciting time…. we are here to help. Chester is a fabulous area to own a home so please take a look at our Properties for Sale
We have been selling houses since 1986 so have lots of experience in helping first time buyers get on the ladder and have a number of suitable properties available. We are also able to connect you to other professional services such as mortgage specialists, conveyancers and building surveyors that can help make the journey a positive experience.
Please do not hesitate to get in touch for some friendly advice. Call our sales team on 01244 346226 or complete the Contact Form.
We hope everyone remains safe and well.