When buying a home most of us need to borrow money. This loan is secured on the property you are buying and should you fail to stick to the terms agreed it’s possible that the mortgage lender will take possession and then sell the property to pay off what is owed.
First-time buyers are new to the housing market and as such it’s generally recognised that they need some help either with raising a deposit or by way of a reduced rate of interest in the first few months or years.
The UK government offer various schemes including a help to buy scheme aimed at those buying their first home or a new home as well as various savings schemes including the Help to Buy ISA Scheme.
First Time Buyer Mortgages usually fall into two categories, namely;
Many mortgage companies and lenders offer first-time buyers incentives and assistance including reduced interest rates and low arrangement fees. Contact Mortgage Required to see how we can best serve your needs today on 01628 507477.
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