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Good news for first time buyers

Posted by David Atkins in Archive, 20th January 2012, 9:06am

Getting on the property ladder may not be as difficult as it seems, according to leading local agent Bairstow Eves.

At the end of the 2011, the Government announced a number of measures to assist home movers to move up and for first-time buyers to get on the property ladder. These include:

·         A Mortgage Indemnity Scheme designed to offer 95% loan to value mortgages for first time buyers looking to purchase new build properties.

·         An additional £400m earmarked for the FirstBuy Scheme, which will help 10,500 first-time buyers get on to the property ladder with a loan of up 20% of the property value available.

To support the New Year buzz Bairstow Eves offices across the region have a number of specialist advisors on hand to provide advice for all potential home movers including first-time buyers, homeowners looking to trade up or access new mortgage products and landlords who are looking to grow their property portfolios.

Peter Wallace, MD, said:
“2012 looks set to be a promising year for the property market across the region. Within the first few weeks, we’re already seeing an increase in new buyer enquiries and homeowners looking to get their property valued.

Buyer demand is still strong across the region and although deposit affordability continues to be a hurdle for many potential buyers to overcome, properties that are competitively priced to sell are being snapped up, with demand especially high for properties ranging from one bedroom apartments to large family homes.”

Countrywide operates the largest mortgage broker service in the UK and its 650 mortgage consultants, including consultants at Bairstow Eves have found that in recent weeks, at least nine of Countrywide’s Top 10 Mortgage Products have been fixed-rate products.

Peter Wallace, adds:  “Despite marginal  rate rises, mortgages are still 0.81 percent cheaper than in 2009, with the average 75% LTV mortgages now available at a rate of 3.24%.[1]  This provides a good time for borrowers to review their options and consider remortgaging to take advantage of the great deals currently on offer. We are working with some of the UK’s largest lenders to give buyers a helping hand by enabling them to access competitive purchase and remortgage products, ideal for customers making their first steps onto the property ladder and those simply looking to remortgage.” 

To find out more about Countrywide’s exclusive mortgage products and services, contact your local Bairstow Eves office by visiting  www.propertywide.co.uk