Would a 95% mortgage help you to get on the property ladder?
Boris Johnson announced this week that he wanted to create a “Generation Buy” of young people by enabling them to invest in their own home and key to this is ensuring that mortgages are available with just a 5% deposit.
At present most lenders require a minimum of 15% or 20% deposit.
But when the average house price in England is now £248,000, will it make that much difference?
Sadly, saving using the Government help to buy ISA’s are only available to those who already have an account open but Lifetime ISA’s are still available for you to open and you could claim a 25% bonus on your savings towards buying your first home.
If you are a first time buyer and require any advice please do not hesitate to contact us on:
- Ipswich 01473 213311
- Colchester 01206 584584
- Email us at [email protected]
A member of our Residential Property Team will be happy to help you, you will speak to an experienced conveyancer who will be responsible and available to you for your transaction from the enquiry stage through to the completion of your move.
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