|
|
| |
| |
Developers To Make Up 100% |
|
(7th July 2008)
Developers who are struggling to pull in buyers for new build properties are offering ten-year loans to supplement the finances of those unable to get a 100 per cent mortgage.
Loans and deferral payments from leading construction firms for up to 25 per cent of the value of a new build property are being offered to first-time buyers to help them get onto the property ladder.
With banks pulling the plug on 100 per cent mortgages, buyers without a substantial deposit are finding it increasingly difficult to get their foot in the door of the property market.
Construction firm Laing Homes is the latest to offer a ten-year loan worth up to 25 per cent of a property's value as part of its easystart scheme.
Buyers will own 100 per cent of the property, but will only have to find funding for 75 per cent of the purchase from lenders, the rest will come from Laing Homes direct.
The Bank of Ireland was the last major lender to stop selling 100 per cent mortgage products to first-time buyers, according to moneysupermarket.com.
|
News brought to you by Start Again Finance, specialists in bad credit mortgage advice, loans, credit cards, savings and insurance |
|
| |
|
|
|
|
|
|
|
|
