100% mortgages are back, we have an exclusive rate with a lender offering 100% mortgage (that's no deposit)

The mortgage is a family guarantor mortgage, meaning the lender will take a charge on your a parent or grandparents property as well as the mortgage charge on your property, this is to reduce their risk of negative equity (when you owe more than the property is worth).

The lender has some set criteria for this mortgage so it is therefore not available to anyone. Take a look at the qualifying criteria below to see if the lender would consider you: -

• Must be age 25 or over.
• Must have at least 2 years clean credit record, with no CCJs in the last 3 years.
• Appluicants must be able to afford the mortgage payments themselves.
• Must be first time buyer(s).

If you pass the above entry criteria and would like some advice about 100% mortgage then visit our site and complete our mortgage enquiry form.

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Governments FirstBuy Scheme for First Time Buyers is underway

The Governments FirstBuy shared equity scheme to help first time buyers step on the property ladder is now well underway.

The FirstBuy scheme has been up and running for just over a month now and many of the National Builders are offering this scheme on their new build. As an independent whole of market mortgage advice firm we can offer advice for first time buyers considering this type of shared equity purchase. So what's the details of the Government FirstBuy scheme: -

Typically you would still need to provide a minimum of a 5% deposit, you can obtain a mortgage from one of large panel of lenders who specialise in Equity Share mortgages, This would form 75% of the property value then the final 20% would be offered via a combination of a 5 year interest free secured loan from both the Government and the National Builder (typically 10% each).

That said I'm looking for introductions to the Sales Directors at TaylorWimpy, Bovis Homes, Lovell Homes, and other such national builders who are offering FirstBuy schemes in Merseyside & Cheshire areas.

Also if you hear any young couples/families saying things like 'I'll never own my own home' then please refer them on to Wentworth Financial Services who will do their best to assist them.

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Right to buy scheme re-introduced

Conservative conference - Help for national builders to build more social housing, the re-introduction of right to buy scheme to help fund the new builds.

This week the Conservative government have re-introduced the Right-to-buy scheme to allow people in social housing to purchase their property at up to 50% discounted market value. The money raised from selling the social housing will help fund the building of new social housing and help the stagnant national building industry.

So the Government are prepared to sell off more social housing, just like when Margret Thatcher first introduced the Right to buy scheme in the 1970s. This does not help those first time buyers out there working hard to build a deposit so they can step onto the property ownership ladder. Do you think this is fair? Have your say, please leave your comments here.

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US Credit rating downgraded

The United States credit rating has been downgraded by the leading credit rating agency Standard & Poor's.

The US has always had a AAA credit rating ever since credit rating have been applied to econimic countries. This is the first time the US has been downgraded from the top spot, it now sits at AA+ one notch below, due to negative outlook on the US economy and citing concerns over budget deficits.

Standard & Poor's indicated that the downgrade was due to the deficit reduction plan not gooing far enough.

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Low 3.89% fix rate for 5 years

New market leading 3.89% fix rate mortgage for 5 years. Is it now a good time to lock into a long term low fixed rate?

With interest rates threatening to rise due to soaring GDP & RPI it's no wonder lenders are trying to entice house buyers and remortgages into new medium to long term fix rate deals. However caution should be taken when researching mortgages, it's not just the initial rate figure which makes up the mortgage product, their are many facets to a mortgage including the lenders fees (arrangement, booking, valuation), penalty charged or early repayment charges and when they apply. Whether the mortgage is suitable to you and your circumstances, your loan to value, income, employment status, type of property etc etc.

However, taking these into consideration one of the main lenders have come up with a market leading 5 year fix rate deal at 3.89% with a £900 (£400 for first time buyers) arrangement fee which may be added to the loan if required. plus a non refundable £99 booking fee to secure the rate. Many lenders are charging around the £1000 mark in fees for fix rates and to obtain a fix rate for 5 years at such low levels is well worth it.

The fix rate reverts to the lenders standard variable after the 5 years which is currently 3.99% and the overall cost for comparison is 4.1% APR.

To find out more about this exclusive rate then visit our site and complete your details: -
Market leading 5 year fix rate

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95% Mortgages back

Boost for first-time-buyers, today a number of lenders have announced new 95% mortgage rates meaning only a minimum 5% deposit required.

Today Wednesday 4th May both Nationwide and Skipton Buildings Societies have announced new mortgage ranges for first time buyers. With a minimal deposit of 5% of the purchase price this shows a great sign that the mortgage market it starting to pick up and lenders appetite to lend to first time buyers at high loan to value rates has returned.

Nationwide require first-time-buyers to have setup a savings account with them saving at least £50 per month. The account must have been running between 6months and 3 years in order to qualify for Nationwide's 95% product range.

Skipton requires no such savings account and it's new 5.99% 2 year fixed rate having an arrangement fee of £195 is available from today.

Need first time buyer mortgage then look no further than our independent mortgage advice service.

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Help For First Time Buyers

Chancellor George Osborne announces new Government-backed shared equity scheme to help 10,000 first-time buyers .

George Osborne has today announced in the Budget that he is to fund a £250m package to get first time buyers on the property ladder. The 'First Buy scheme' is aimed at getting 10,000 first time buyers to be able to purchase a newly built flat or house.

The buyer must still provide a small 5% deposit, however a further 20% will be provided by the home builder and government by way of a low cost loan. The loan will be interest free for the first 3 years. This means that the buyer can seek a mortgage with a 25% deposit and obtain significantly lower rates.

The government funding for this scheme is expected to come from the new bank levy introduced by the Chancellor in the last budget.

If you are a first time buyer and would like more information on this then bookmark our site for regular updates on this First buy scheme

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Rates now due to rise in May

The Bank of England Governor Mervyn King has suggested that the Monetary Policy Commission are likely to raise bank base rate in May.

In his letter to the chancellor George Osborne, Mervyn King explains the high rate of inflation as three things:-

• The higher rate of VAT.
• The fall in sterling in 2007/08.
• Recent increases in commodity prices, mainly energy.

It is also believed that inflation will increase further from 4% currently to between 4-5% in the next few months, due to further increases in the world commodity prices. What this means is that the Bank of England base rate is expected to rise now in May and with further rate rises possible later in the year.

What does this mean to you?
If you have a mortgage, secured loan on a variable or tracker rate or even been benefiting from the lenders standard variable rate for some time, it is now the time to remortgage onto something more secure a fixed or capped rate.

If you need some remortgage advice, click the link and complete your details and we will contact you with your options.

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Fixed mortgage rates on the rise

Fixed mortgage rates could soon be on the rise. now is the time to remortgage onto a low fix rate

Fixed rates have been historically low for the past 12 months but is this all going to end. Since fixed mortgage rates are triggered by the corresponding swap rates and since November 2010 these have been slowly rising it is likely to put pressure on the fixed rate mortgages available today, add to this, the effect that the bank of England base rate has been at an all time low of 0.5% for 21 months and it is feasible that there may be some movement this year in the bank base rate. This all adds pressure on current 2 and 3 year fix mortgage rates.

There is no better time to remortgage onto a fix rate than now. Why not take a look at our remortgage rates using our website.

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