The government’s 5% Deposit Mortgage Scheme, which was announced in the Spring Budget, is now underway, helping first-time buyers onto the property ladder. How will the 5% Deposit Mortgage Scheme Work? It is designed to help people buy a home despite struggling to put down a deposit. The lower required deposit will help people in…Continue reading
Tag: borrowers
Rise In Interest Rates Hits Young Homebuyers Hard
Interest rates are rising in the UK, adding to the financial burden of young homebuyers. The situation has been driven by house prices rising much faster than the salaries of first-time buyers, forcing many of them to take on increasingly large amounts of debt in order to own their own home. Indicators suggest that interest…Continue reading