News & Insights - First time buyer

Homebuyers with small deposits have an extra year to use the Mortgage Guarantee Scheme, after the Government announced it has been extended until December 2023.

The countdown is on to the end of the Government’s Help to Buy scheme

Mortgage affordability tests will be scrapped this summer, the Bank of England has announced.

Soaring house prices mean growing numbers face a tax bill when they buy. First time buyers currently don’t pay any stamp duty on the first £300,000, as long as the property they are buying doesn’t cost more than £500,000. However, house prices have risen by around £100,000 between 2014 and 2022, according to the HomeOwners Alliance, while Stamp Duty bands ha

We've de-bunked nine of the most common mortgage myths that might be putting you off and explain what the real facts are.

The deadline to use the government’s Help to Buy scheme will be 6pm on 31st October 2022, giving first-time buyers less than five months to apply.

Around 10,600 first time buyers were helped onto the property ladder by the mortgage guarantee scheme in the eight months following its launch.

The gap between the cost of owning a home and renting a property is at its widest since 2017, with the costs of owning a home £1,378 cheaper than renting in 2021.

The Bank of England’s Monetary Policy Committee has voted by a majority of 8-1 to raise the base rate to 0.25%, providing little festive cheer to homeowners.

The number of home moves in the UK reached its highest level in 14 years in the first half of 2021, with more than 265,000 people moving to a new property.

Research by the Yorkshire Building Society shows the pandemic has provided a useful savings boost for first time buyers

Home mover demand is thought to be driven by changing priorities as a result of the pandemic, with many people looking for bigger homes and more outside space.

The Government has begun the roll out of its new ‘First Homes’ scheme, designed to give first time buyers a leg up onto the property ladder by providing discounts on new homes.

The latest Government data highlights the increasing number of new homes with an Energy Performance Certificate (EPC) rating of A or B

Nationwide has launched mortgages which enable first time buyers to borrow more than five times their income when locking into a long-term fixed rate.

The current Help to Buy scheme will be replaced by a new scheme in April, which will only be available to first-time buyers and will impose regional price caps on eligible properties.

Demand from property buyers showed no signs of slowing in October, pushing up house prices across all parts of the UK, according to the latest RICS UK Residential survey.

The government has confirmed it is extending the completion deadline for new homes to help homebuyers whose property purchases have been delayed due to coronavirus.

New homes and planning reforms have been pledged by the government in a bid to “build better homes where people want to live” and boost the UK’s economic recovery post-coronavirus.

Homebuyers throughout the UK will now benefit from lower stamp duty costs, with Scottish and Welsh governments both confirming temporary tax cuts.

Nationwide, Britain’s biggest building society, has reduced the maximum amount it will lend so that it can “continue to lend responsibly”.

Some mortgage lenders have announced changes to their affordability criteria to give more clarity for those who have been furloughed due to coronavirus, or those who receive a variable income which includes bonuses.

Home-movers are being advised by the Government to put their plans on hold wherever possible whilst measures are in place to fight coronavirus.

Paying off your mortgage early is a pretty appealing prospect for most people, so it’s little wonder that many of us plough any cash we don’t have an immediate need for back into our homes.

We explain everything you need to know about mortgages and the impact having children can have on your ability to borrow.