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Clock is ticking on first-time buyer savings scheme

Jun 13, 2019
3 min

Clock is ticking on first-time buyer savings scheme

Prospective first-time buyers saving for a deposit are being urged to make use of their Help to Buy ISA allowance before the scheme is pulled at the end of the year. Anyone saving for a home is entitled to invest in the tax-free savings scheme which offers first-time buyers the opportunity to deposit up to £200 a month and receive a Government bonus of 25% up to a maximum of £3,000. But new research by specialist bank, Aldermore, revealed many people were not aware the scheme

Average first-time buyer deposit tops £30k

May 2, 2019
2 min

Average first-time buyer deposit tops £30k

First-time buyer deposits are on the rise with the average amount being saved to get onto the property ladder rising to nearly £31,000. Figures released by Experian revealed people buying their first property were saving 12% more over the course of 2018 to put down as a deposit. Indeed, back in January 2018 the typical amount being saved by UK first-time buyers was £27,768. But this amount had soared by January 2019 to £30,989, highlighting the extent of the challenge faced b

Affordability improves but first-time buyers still need decade to save deposit

Apr 16, 2019
2 min

Affordability improves but first-time buyers still need decade to save deposit

Londoners face the steepest challenge, but in which region can aspiring homeowners most quickly save a deposit? The time it takes first-time buyers in England and Wales to save a deposit has fallen, according to research by Hamptons International. On average it took a single first-time buyer in full-time work 10 years and three months to save a 15 per cent deposit in the final quarter of 2018 – six months fewer than two years ago. Affordability has improved slightly but a fir

Borrowers benefit from low rates and product highs

Mar 15, 2019
2 min

Borrowers benefit from low rates and product highs

Mortgage borrowers are enjoying a product boom with ‘historically low’ rates and product numbers at record highs, analysts have revealed. Since the end of the financial crisis, when the Bank of England cut interest rates to 0.50% to address the fallout, mortgage rates have nearly halved, said experts at Moneyfacts.co.uk. What’s more in the last decade the competition between lenders providing these mortgages has become extremely vigorous meaning there is now greater availabil

New deal allows you to get a mortgage with no deposit

Feb 18, 2019
2 min

New deal allows you to get a mortgage with no deposit

There's a new way for the Bank of Mum and Dad to help their children onto the housing ladder First-time buyers with no deposit can now apply for a mortgage from Lloyds Bank – but they will need a family member to back up the loan. The 100% loan to value (LTV) mortgage is fixed for three years at a rate of 2.99% and comes with no product fee. Homebuyers will be able to borrow up to £500,000. Parents or other family members will have to put down cash worth 10% of the loan into