Great news for First Time Buyers this week, after the announcement by Barclays Bank that they will make 100% mortgages available again.
Usually a minimum 5% deposit would need to be put down against the property purchase price, or more should the applicant be looking for a better deal. So the introduction of mortgage lending at 100% is going to be great news for both First Time Buyers as well as those already on the property ladder but looking to move home.
Barclays 100% mortgages will offer a 2.99% Fixed Rate for 3 years however, the amount that can be borrowed on mortgage will be subject to the same scrutiny as applying for any other mortgage. There will be a limit on lending which will equate to a multiple of the applicant’s income as well as the usual credit checks etc.
So if you’re looking at buying your first home but don’t have a deposit or you’re already a homeowner and you’re interested in moving house why not get in touch. Simply complete the form below and we will be in touch with you as soon as we can.
In the meantime, you may also be interested in the Government’s Help to Buy Scheme which assists people getting onto or those already on the property ladder.