Tag: First-Time Buyers
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Seven Years to Save For a House Deposit – Are You Ready to Wait?
First-time buyers looking to step onto the property ladder face a long wait to save a deposit, new research reveals. According to Hargreaves Lansdown, a single first-time buyer would need to save for seven years and five months to reach a deposit of £45,000 using a Lifetime ISA (LISA). This is based on saving the…
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Cheaper Mortgage Rates Unlikely to Return, Warns Lloyds Boss
Homeowners hoping for a return to the rock-bottom mortgage rates of the last decade are likely to be disappointed, the boss of Lloyds Bank has warned. Charlie Nunn, the chief executive of the UK’s biggest mortgage lender, said that while he expects rates to fall, they are unlikely to plummet to the near-zero levels seen…
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Mortgage Rates Reduced by Buckinghamshire BS
Buckinghamshire Building Society has lowered mortgage rates across the board in a move that could save borrowers thousands of pounds. The building society has cut rates on a range of products, including fixed-rate deals for first-time buyers, buy-to-let landlords, and holiday let investors. Here’s what you need to know: First-time buyers and home movers: Buy-to-let…
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Barclays Cuts Mortgage Rates – But Should You Wait For Further Falls?
Barclays is cutting rates on a range of its mortgages by up to 0.50% from October 11th. But with other lenders increasing rates, is now the right time to fix? Barclays is reducing rates across its fixed-rate mortgages for both new purchases and remortgages. Here are some examples of the reductions: Should You Grab a…
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Mortgages for First-Time Buyers Still £353 Higher Than 5 Years Ago
Soaring house prices and high mortgage rates mean hopeful homeowners are facing record monthly repayments. While mortgage rates fell a little recently, buying your first home is still hard, with average monthly mortgage payments now £353 higher than they were just five years ago. Rightmove’s latest figures reveal the average first-time buyer now faces forking…
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Vida Homeloans Cuts Mortgage Rates
Vida Homeloans is cutting mortgage rates by up to 0.30% This means cheaper deals for those looking to buy a home or expand their property portfolio. The cuts apply to both residential and buy-to-let (BTL) mortgages, with most residential products seeing reductions of up to 0.20%. Here’s what you need to know: Best Deals on…
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House Prices Rise as Mortgage Rates Fall – What are the Best Deals This Week?
Halifax’s latest House Price Index revealed that house prices have seen their biggest jump since November 2022. In the year leading up to September, prices shot up by 4.7%, meaning the average UK home will now set you back a cool £293,399. Don’t panic! Amanda Bryden, the brains behind mortgages at Halifax, wants you to…
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TSB Tempts Homeowners with New Two-Year Mortgage Deal
TSB has brought back its two-year fixed-rate mortgage for those remortgaging at up to 75% loan-to-value. This means that borrowers with a 25% deposit, or those remortgaging with 25% equity in their homes, will be eligible. The deal comes with a fee of £1,495. And there’s more good news for homeowners looking to remortgage. The…
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Virgin Money Reduces Buy-to-Let Mortgage Rates
Virgin Money has announced a shake-up of its buy-to-let mortgage rates, with some tempting offers on the table. From Wednesday 9th October, you could benefit from a range of new fixed-rate deals and reductions on existing products. Virgin Money is pulling out all the stops for its “Exclusive Buy-to-Let” range, with brand new fixed-rate mortgages…
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Family Help Mortgages Could Be Key for First-Time Buyers – What’s Available?
Good news for those struggling to buy their first home! While it’s still tough to save enough, mortgage options for first-time buyers are improving. Katie Brain, from financial experts Defaqto, explains: “We’ve seen a huge increase in first-time buyers relying on help from family members to get a mortgage.” In fact, 57% of first-time buyers…