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
"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".