95% Mortgages for First Time Buyers

Rishi Sunak has announced his plan to help first time buyers with 5% mortgage deposits get on the property ladder.

The scheme is due to start in April and will help the tens of thousands of young buyers to get on the property ladder.

The coronavirus pandemic has meant there are now few low-deposit mortgages available, with just eight on the market in January.

They are often seen as riskier by banks as they are more vulnerable to negative changes in property prices – meaning people hold more debt than their home is worth.

Under the scheme, the government will offer to take on some of this risk.

The government is to become guarantor for part of the loans which will be for properties up to £600,000.

“I want generation rent to become generation buy and these 95 per cent mortgage guarantees help to deliver this promise,” said Boris Johnson over the weekend.

“Young people shouldn’t feel excluded from owning their own home and now it will be easier than ever to get on to the property ladder.”

Some 3,000 buyers are expected to be offered the loans every month.

If you are considering getting on to the property ladder and would like free mortgage advice please give us a call on 0121 663 0099, email us on sales@hortonstorey.com or you can fill out our contact form.




Share this:

I recently purchased a property through Horton & Storey. Justyn and Emma were very approachable throughout, ensured I was kept up to date with any relevant information. Thank you all at H&S

Horton and Storey were the agent we chose for selling our property and we were very pleased with them, from the first visit to the close of business, house sold! Always interested in our needs, and professional in assessment, advice, and service. We enjoyed their continued involvement throughout and are pleased to recommend them to all future sellers.

Having recently sold my property through Horton & Storey, I have only the highest praise for Justyn and' All The Team'....ALWAYS kept up to date.....ALWAYS returning any phone messages......ALWAYS remaining polite and professional even when I occasionally put them under a little pressure. Highly recommended.5 star service.

Having recently sold our property through Horton & Storey, i would highly recommend them to anybody looking for an Estate Agent. Professional and thorough throughout the process, we was always kept up to date at every stage. Excellent Service.

Sa Iq (Purchaser) Very friendly and professional estate agents. The nicest agents we dealt with in our search for a proper

Tom and Justyn at Horton & Storey are an absolute joy to work with. Their knowledge, experience and expertise from the start set us at ease and made the process from start to finish an awesome experience. I would definitely recommend them!