Data from the Council of Mortgage Lending (CML) shows gross mortgage lending for 2015 is the highest for seven years as demand remains high.
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Category Archives: First Time Buyers
From February the new London Help to Buy scheme will offer homebuyers loans up to 40% of the property value to purchase new-build homes.
There were 310,000 first time buyers in 2015 according to the Halifax with an increase in the number taking 35 year mortgages.
Property prices are up 9.5% in the year and a further decline in the number of homes for sale will keep the an upward pressure on prices.
New research by the Resolution Foundation finds the average first time buyer takes 24 years to save enough deposit to buy their home.
Homebuyers in London are to benefit as the government improves Help to Buy and removes restrictions for Shared Ownership scheme.
People struggling to buy their first home are given a helping hand with the Help to Buy Isa free from tax and up to 4% interest.
Landlords of buy-to-let properties must pay much higher stamp duty land tax following the chancellor’s Autumn Statement.
House purchase loans were 9% lower for the month of August according to the CML as remortgage buyers reducing by the largest amount.
The government’s Help to Buy scheme has hit record levels in June for the equity loan part with 4,745 completions.