first-time buyers

Abbey launches first-time buyer savings deal

Rebecca Atkinson — Mon, 03 Nov 2008 10:33:31 +0000

In a return to practices of the past when people saved before they bought a home, Abbey has launched a new regular savings account for first-time buyers that pays 8% AER.

The mortgage market has undergone many significant changes over the past year, not least the end of 100% plus mortgages and a return to lenders offering better interest rates to people with large deposits.

Lloyds TSB restricts interest-only mortgages

Rebecca Atkinson — Thu, 30 Oct 2008 12:23:32 +0000

Lloyds TSB mortgage borrowers who want to reduce their monthly payments could be blocked from switching to interest-only deals.

Is the government really helping first-time-buyers?

Rachel Lacey — Tue, 02 Sep 2008 11:19:54 +0100

There are some things that really get me shouting at my telly – Big Brother is the most regular one at the moment, but this morning it was the government’s plans to rescue our ailing housing market that really got me spluttering into my cornflakes.

Rent now, buy later scheme unveiled

Rebecca Atkinson — Wed, 16 Jul 2008 17:49:08 +0100

First-time buyers could be given a helping hand onto the ladder under a new homeownership scheme that allows them to rent first, buy later.

Under the scheme, households earning less than £60,000 a year will to able to rent a new home at a discounted rate of 80% for up to three years. They will then be given the option to buy a part share in the home.

Why all is not lost for first-time buyers

Rebecca Atkinson — Wed, 04 Jun 2008 13:01:18 +0100

Over a quarter of young people are priced off even the lowest rungs of the property ladder despite falls in house prices, new research reveals.

The Moneywise guide to buying your first home

bill — Fri, 30 May 2008 12:36:13 +0100

While house prices have finally started to fall, there's been no let up for first time buyers as lenders pull loans and increase their rates. However that doesn't mean you have to put your dream of homeownership on hold, you just need to be that little bit more creative...

House building slump threatens government targets

Rebecca Atkinson — Thu, 15 May 2008 18:18:11 +0100

New house building in England has fallen by nearly 25% over the last three months raising fears that government targets for first-time buyer homes may not be met.

The latest quarterly figures from the Department for Communities and Local Government (DCLG) show that work started on 21% fewer homes between January and March 2008 than in the last quarter of 2007. The number of starts is down 24% on a year earlier.

The figures also reveal the number of homes completed fell by 12% compared with the previous quarter, and 18% compared with a year before.

Government offers a £300 million helping hand to first-time buyers

Rebecca Atkinson — Wed, 14 May 2008 17:24:36 +0100

The government has pledged £300 million to help first-time buyers onto the housing ladder through shared ownership schemes.

In a report outlining the government’s draft legislation for 2008/09, Gordon Brown announced plans to use a £200 million fund to buy new build properties which can then be leased to social tenants or sold to first-time buyers through shared ownership schemes.

Brown also revealed a further £100 million investment in extending current shared ownership schemes, known as the HomeBuy schemes, to include all first-time buyers with a household income of less than £60,000. Previously, only key workers were able to apply for the scheme, which enable people to buy a share from 25% in a property or take out a shared ownership mortgage.

Finding your way through the mortgage maze

Rebecca Atkinson — Tue, 08 Apr 2008 11:07:02 +0100

The mortgage market has been through a lot in the past few months. As the credit crunch continues to hurt banks and other mortgage lenders, the availability of credit has shrunk. Some players are no longer around, while others have suspended new lending; put up rates and tightened criteria.

At the same time, house prices are waning – the latest figures from Halifax show prices fell by 2.5% in March – and are likely to continue to do so throughout 2008.

Halifax demands deposits as house prices fall

Rebecca Atkinson — Fri, 04 Apr 2008 16:38:57 +0100

Borrowers hoping for a Halifax mortgage will now have to save for a 25% deposit or pay a premium.

Britain’s biggest mortgage lender has introduced a three new pricing tiers, with the best value mortgages only available to people able to put down 25% of a property’s value.

Previously, only a 10% deposit was needed to secure the best interest rate from the bank. Halifax will continue to offer mortgages between 90% and 95% of a property’s value, but these will attract a higher headline rate.