Are you a FTB and need a mortgage?……
If you are, then the answer will probably be yes.
Mortgages are becoming more widely available partly due to the new Government Funding for Lending Scheme.
The Bank of England latest lending report revealed availability of secured credit to households rose significantly in late 2012 and the coming next 3 months will show a ‘significant’ increase in lending with smaller deposits.
Halifax produced a survey showing there has been an increase of 12% on 2011 on FTB with an age increase from 29 to 30 years.
However, conditions still remain very difficult for potential FTB raising deposits and concerns over the economic climate.
Just 5% of affordable districts in Britain where located in the South of England and the most affordable area was the North West.
Things are finally starting to look up for our First Time Buyers – Good Luck from Russotrading.