Housing Plymouth Event- 18th June 2016

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We are pleased to say that we will be attending the Housing Plymouth event on the 18th June 2016 at the Royal Parade Piazza, Plymouth. The event is open between 10am and 4pm with the aim of providing a “one-stop shop” for all things housing.

We will be there throughout the day to provide free, independent advice on the variety of housing options available to you. Our experts will be able to assess your situation and provide information on the type of schemes that best suit you.

High Street Lender Offering 100% Mortgages to First Time Buyers

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Picture1One major bank has reintroduced the 100% mortgage, meaning that First Time Buyers do not need any deposit at all to purchase their first property. Until now, the minimum deposit required has been 5% of the purchase price.

Instead, the buyers need a “helper” who is required to put 10% of the value of the property into a savings account with the bank for the first 3 years of the mortgage. After the 3 years are up, providing the borrowers have kept up their repayments, the “helper” gets all of their money back, with interest.

These types of deals have not been widely available since the financial crisis, and it is important that borrowers seek advice beforehand, to avoid taking on a mortgage they cannot afford.