Tel: 01267 238555 | enquiries@westernwelsh.com
1st Time Buyer
Mortgages for First Time Buyers
The prospect of buying your first home is both daunting and confusing. Our aim is to guide you through the transaction from start to finish so that you understand exactly what the purchase entails and how much it will cost. We can recommend the services of local solicitors to assist in this process. This is the largest financial transaction you are ever likely to make so it must be done with clarity.
Over the past few years, the property market moved very fast and led to significant increases in property prices. This made it very difficult for many people to afford to buy a home, particularly for first time buyers.
During the credit crunch which started in 2007 property prices dropped considerably making housing more affordable, however, in 2009 house prices started to rise again. The first half of 2010 continued this rise but prices then fell again in the second half of the year, finishing generally flat across the year as a whole. The effects the credit crunch has had on the property and mortgage markets has created challenging times for all.
Getting on the ladder
It is, however, still possible for first time buyers to get onto the property ladder and there are actually some advantages to being a first time buyer. Interest rates are very low, and first time buyers are more appealing to sellers because they are not in a chain.
As we have access to many lenders we are well placed to assist you, however these days it is a necessity to provide a substantial deposit in order to get a mortgage (although there are some 90 per cent deals still around).
Call us now or use our mortgage enquiry form and we'll be delighted to assist you.
In general, conveyancing is not regulated by the Financial Services Authority.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Mortgage & Equity Release
Mortgage Calc
