First Time Buyer - Mortgages

It has been revealed that over the last two and half years, home buyers looking to place a 10% deposit on a property have seen the number of mortgage deals available decimated by 97%. Currently only 102 mortgages are available to first-time buyers looking to place down a 10% deposit, down from nearly 3150 just two and a half years ago. While it was inevitable there would be some decline in the number of deals available, the massive reduction has prompted surprise across the sector.

Ultimately it will be first-time buyers, the new blood of the property market, who will facilitate a recovery in the UK property sector. Unfortunately at this moment in time there are significant liquidity issues and many UK banks are unwilling to take 90% loan to value mortgages.

What is your Credit Score. This is the most important criteria that will determine whether you are succesfull in getting on the housing ladder.

There is a lot of help offered to first time buyers from the government. It can be very confusing and whilst there is a lot of information on the internet nothing can compare with actually speaking to an experienced advisor who can explain you options in far better detail.

One thing I would add though is should you apply for one of the government schemes please bear in mind that once you have been approved you can choose whichever mortgage broker you want. You do not have too choose from one of there so called approved mortgage brokers.

Telephone

0800 8620868

Email

info@echelonfinancialprotection.co.uk

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

IMPORTANT - Please Download & Print Out Our Initial Disclosure Document (IDD)

Echelon Financial Protection is a trading name of Echelon Mortgages Limited.

Echelon Mortgages Limited is authorised and regulated by the Financial Services Authority in England and
entered on the FSA Register under reference number 461478.

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is
therefore primarily targeted at consumers based in the UK.

Address: Echelon Financial Protection
33 Orrell Lane
Orrell Park
Liverpool
L9 8BU

Tel: 0151 329 2900
Fax: 0151 329 2901
info@echelonfinancialprotection.co.uk