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: mortgages
Sheffield First-Time Buyers Youngest in the Country
A recent study has revealed Sheffield to be the most affordable city for first-time buyers (FTB). The average age of those buying their first home in Sheffield is only 23, four years below the national average. Anees Rehman, Residential Conveyancer in our Property Department commented on the findings. “It is heartening to hear the Sheffield…Continue reading
Mortgage Prisoners May Be Freed By New Rules
The Financial Conduct Authority (FCA) has proposed new rules to help homeowners stuck in high-interest loan deals; AKA ‘mortgage prisoners’. What are mortgage prisoners? Well, prior to the 2008 financial crisis, the affordability tests that lenders were running weren’t as strict. However, regulations are tighter now and therefore lenders are stricter. As a result, around…Continue reading