First Time Buyers

First-time buyers cannot afford to buy a home in 80% of UK towns, a survey from the Halifax bank has suggested. According to the study, average-priced homes in 531 out of 667 UK postal towns were beyond the means of people on average salaries.

We arrange cheap mortgages, first time buyer, discount, discounted, base rate tracker, flexible, capped rate, fixed rates, interest only, cashback, current account, offset, are all terms that we have heard off. But do we really understand the meanings? We regularly arrange, a ccj mortgage, 100%, no deposit, 4 times joint income, 5 times income, 6 times salary, as well as self cert, certify, certified, certification, employed, self-employed, shared ownership, parents guarantees and professional mortgages for doctors, dentists, pharmacists and accountants.

The problem of affordability was most acute in the south of England, where house prices have outpaced earnings. "Affordability is clearly a serious issue for first-time buyers and one that shows no signs of abating in the near future," Shane O'Riordan, group economist at Halifax said. First-time buyers will find the going tough again this year as house price growth continues, especially outside London. However, most first-time buyers by clubbing together with their partner or a friend could still afford a home, the bank said. With property prices escalating out of the reach of many first time buyers, there has never been a greater reason than now for obtaining specialist mortgage advice.

As specialist mortgage brokers, we can arrange a, first time buyer mortgage, no deposit morgage, self certification mortgage, right to buy mortgage, adverse credit morgages, 100% mortgage, in fact, mortgages of up to 125% of the property value are even possible. We regularly arrange 6 times income mortgages and 4 times joint income mortgages, plus parents guarantee mortgages, family offset mortgages, shared ownership mortgages, including buying with a friend and through a housing association .

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