News & Insights - First time buyer

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”.

After re-introducing many of their deals for homebuyers with small deposits after lockdown rules eased, several lenders this week pulled their first-time buyer mortgages again temporarily.

Now that the property market has restarted again, lenders are busy working through the backlog of mortgage applications they put on hold when physical valuations had to cease during lockdown.

Thousands of homebuyers who had to put their moves on hold when the country went into lockdown at the end of March can now proceed with their plans

Recent weeks have proved a rollercoaster ride for the mortgage market, with several lenders withdrawing products and then expanding their ranges.

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.

The Bank of England cut the base rate again on Thursday to just 0.1%, its lowest ever level, in a bid to support the economy during the coronavirus crisis.

Although much of this week’s Budget speech focused on measures to protect people and businesses from the economic impact of the coronavirus, there were several announcements on property.

The Bank of England slashed the base rate by half a percentage point to just 0.25% on Wednesday to help shore up the economy during the coronavirus outbreak.

A New Homes Ombudsman, Help to Buy numbers, leasehold reforms and house prices

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.

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First time buyers will be able to benefit from discounted new homes under a new ‘First Homes’ scheme proposed by the Government.

Data produced by HM Land Registry in December revealed staggering differences between the cheapest and most expensive properties sold.

Homebuyers with only a 5% deposit to put down now have a wider choice of mortgage options to choose from following the launch of a new range of fixed rate mortgages.

Spring is usually considered the best time to sell a property, but in fact there’s no time like the present, according to new research.

Political and economic uncertainty may have dominated 2019, but homeowners and buyers have continued to benefit from rock-bottom mortgage rates.

First-time buyers in Scotland will receive financial help to buy a property under a recently launched pilot scheme.

If sorting out your finances is one of your New Year's resolutions, don't forget your mortgage! Here are a few ideas to help you get going.

Ongoing political and economic uncertainty has failed to deter first-time buyers, with growing numbers managing to get on to the property ladder.

The share of mortgages advanced to those with deposits of less than 10% of the property value has reached its highest level since 2008, according to the Bank of England.

More than half of properties in the UK are in areas that are affordable for first-time buyers, according to new research, with Blackpool, Hull and Lincoln among the ‘affordable hotspots.’

People will be able to buy more of their own home more easily under changes to the shared ownership scheme announced last week.