First-time buyers need average deposit of nearly £59,000, which is £12,000 more than a year ago, study finds First time buyers need £12,000 more for a deposit than this time last year Halifax study found deposit requirement increased in every region of the UK Wales was found to have most significant increase with average amount increasing … Read more
Yorkshire Building Society has become the first lender to bring a range of mortgages with 5 per cent deposits back to the market, potentially heralding a price war that could benefit first-time buyers. Accord Mortgages, the intermediary arm of the building society, is launching the mortgages tomorrow with a five-year fixed rate of 3.99 per … Read more
The Government has announced a plan to guarantee mortgages with five per cent deposits, encouraging banks to lend to those with smaller savings pots. In today’s Budget, Chancellor Rishi Sunak confirmed that the Government would back the home loans, which will be available on homes costing up to £600,000. The scheme will begin in April … Read more
Aspiring first-time home buyers will be listening keenly to the Budget this week with Chancellor Rishi Sunak expected to announce Government-backed mortgages with deposits of just five per cent. The Government is set to guarantee the loans, enabling lenders to offer mortgages worth 95 per cent of the purchase price on properties worth up to … Read more
Get on a flexible road to freedom: The low-deposit summer holidays with rock-bottom prices you can change if things go wrong, from New York breaks to villa stays in Spain A £75 deposit secures a three-night New York break with flights in the autumn Pay £137pp now to reserve a stunning villa amidst the rolling hills … Read more
While the pandemic has been tough time for many, young, single renters have been hit particularly badly. They are more likely to be employed in struggling industries such as retail and hospitality, and to have less secure jobs overall. Having not accrued the years of service to require a big pay-off, they are also cheaper … Read more
Mortgages needing 10 per cent deposits are continuing to return to the market, in a welcome move for first-time buyers. Lenders have launched 117 new products since the beginning of the year, and 29 in the first two weeks of February alone, according to information website Moneyfacts. These lower-deposit mortgages are popular with first-time buyers, … Read more
SpaceX is accepting pre-orders from the public for its Starlink satellite internet. The Elon Musk-owned firm announced potential customers can enter their service address on its website and place a $99 deposit, which covers the first month of usage. Users opting in have received messages saying SpaceX is ‘targeting coverage in your area in mid to … Read more
Lenders are beginning to reduce interest rates on 10 per cent deposit mortgages, as more products return to the market. This week, Metro Bank cut the rate for its 90 per cent loan-to-value, five-year fixed rate mortgages by 0.4 percentage points. New mortgages are now being offered at 3.59 per cent, while those looking to … Read more
Santander has become the latest lender to impose harsher restrictions on self-employed borrowers, excluding them from its lower-deposit mortgage deals. The bank has said that new self-employed customers will only be offered mortgages to cover a maximum of 60 per cent of a property’s value. That means self-employed first-time buyers and most home movers will … Read more