Latest research from the Halifax has found that many First Time Buyers are still concerned about getting onto the property ladder. This was highlighted in the Financial Reporter in December.

The research has found that nearly a third are prevented from buying a home because they don’t think they will be able to get a mortgage. 42% worry about the amount of time it will take them to save to buy their first property and 40% think they will never be able to afford to buy their own home.

What this means for First Time Buyers

Adam Nanson, Managing Director from Your Mortgage Expert comments:
“I speak to many First Time Buyers who are worried whether they will be able to get a mortgage and are fearful as to whether they will ever get their foot on the property ladder. The results from the Halifax survey therefore do not surprise me.

“However, there are a range of Government schemes available to help ensure people don’t get forever locked into rented accommodation if they really want to buy. Such as the new Help to Buy ISA that will be launched in December from the Halifax*.”

How Your Mortgage Expert can help
Adam Nanson continues:

“If you’re not sure whether you will be accepted for a mortgage, I would urge you to give Your Mortgage Expert a call. We deal with First Time Buyers on a regular basis. We therefore understand the types of loan available from the Government under the Help to Buy schemes, how to apply and we can also help to find you the most appropriate scheme.

“On top of this, we can also help you understand what you can afford and which of the lenders who have signed up to the various Government schemes would be most suitable for you. And, if you’re not currently in a position to buy, we can help get you on track and set you up with a plan of action so that purchasing is a real possibility in the future.”

If you are interested in finding out more about getting a First Time Buyer mortgage or in the Help to Buy scheme why not contact Your Mortgage Expert? We don’t charge for the initial consultation, so by speaking to us, you are under no obligation. We are based in Salisbury, Wiltshire, but we can help you no matter where you live in the UK.

Simply call us on 01722 322683 or complete a contact us form on our website and tell us when it would be best to get back in touch with you.

You might also find it useful to read the dedicated Help to Buy page on our website. Alternatively, read about Chris, a First Time Buyer from Fareham. Adam Nanson from Your Mortgage Expert helped him to buy a property using the Government backed Help to Buy equity loan scheme.

The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. TenetLime cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Please note, if you click on the below links you will be departing from the regulated site of Your Mortgage Expert Ltd. Neither Your Mortgage Expert Ltd nor TenetLime are responsible for the accuracy of the information contained within the non-regulated site.
*Source: Financial Reporter: http://www.financialreporter.co.uk/savings-and-investments/halifax-help-to-buy-isa-to-offer-a-rate-of-4.html

Tags: First Time Buyer, Help to Buy