14 May

More high LTV mortgages make now a good time to buy

More high LTV mortgages make now a good time to buy

The fact that more lenders are now making higher Loan to value mortgages available across the UK means that now is a good time to buy for those looking to get a foot on the property ladder.

Schemes such as NewBuy and FirstBuy from the government offer people the opportunity to gain a mortgage with just a five per cent deposit, and with more banks now buying into these, conditions are more favourable now than they have been in years.

Paul Holmes, chief executive officer at Firstrung, said that once these products are widely available, it will be seen as the perfect time to make a move in the market for first-time buyers and movers alike.

"I would think that when first-time buyers see that availability of product readily available, it could be an indication that it is a good time to buy," Mr Holmes added.

He also went on to say that 100 per cent mortgages could be the sign that the market has "bottomed out".ADNFCR-1222-ID-801362821-ADNFCR

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