30,000 people took out their first mortgage in July, the highest rate since rate since 2007 according to the Council of Mortgage Lenders.
First Time Buyers typically have to put down a 16% deposit, down from 19% at the same time last year. This figure is a national one and thus slightly skewed by higher prices in the south. The Yorkshire Evening Post has reported the figure to be around the 10% mark for homes bought in Yorkshire.
With the help of the government scheme, Help to Buy, you could halve this deposit and buy a new home with only a 5% deposit. Its aim is to help hard working people like yourself onto or up the property ladder.
There are a selection of lenders to choose from who are registered with the Help to Buy scheme. These are: Aldermore, Bank of Scotland, Barclays, Halifax, HSBC, Lloyds, Natwest, Post Office Mortgages, RBS, Santander and Virgin Money.
We offer Help to Buy across our developments in West Yorkshire: Bradford, Haworth and Keighley and at our development in Settle, North Yorkshire.
For more information on how Help to Buy works click here.
If you’d like to speak to a Financial Advisor to get advice on whether Help to Buy is for you, we recommend Jo Murgatroyd of Mortgage Talk. Jo is completely independent from us but knows our developments well. She can be reached by emailing [email protected] or by calling 0113 252 2290.