Getting on the property ladder may not be as difficult as it seems, according to leading local agent Palmer Snell.
At the end of the 2011, the Government announced a number of measures to assist homemovers to move up and for first-time buyers to get on the property ladder. These include:
- A Mortgage Indemnity Scheme designed to offer 95% loan to value mortgages for first time buyers looking to purchase new build properties.
- An additional £400m earmarked for the FirstBuy Scheme, which will help 10,500 first-time buyers get on to the property ladder with a loan of up 20% of the property value available.
To support the New Year buzz Palmer Snell offices across Dorset and Somerset have a number of specialist advisors on hand to provide advice for all potential homemovers including first-time buyers, homeowners looking to trade up or access new mortgage products and landlords who are looking to grow their property portfolios.
Ian Thompson, Managing Director said:
“2012 looks set to be a promising year for the property market in Dorset and Somerset .Within the first few weeks, we’re already seeing an increase in new buyer enquiries and homeowners looking to get their property valued.
“Buyer demand is still strong across the region and although deposit affordability continues to be a hurdle for many potential buyers to overcome, properties that are competitively priced to sell are being snapped up.”
“Countrywide operates one of the largest mortgage broker services in the UK and its 650 mortgage consultants, including consultants at Taylors have found that in recent weeks, at least nine of Countrywide’s Top 10 Mortgage Products have been fixed-rate products.”
Ian Thompson adds: “Despite marginal rate rises, mortgages are still 0.81 percent cheaper than in 2009, with the average 75% LTV mortgages now available at a rate of 3.24%. This provides a good time for borrowers to review their options and consider remortgaging to take advantage of the great deals currently on offer. We are working with some of theUK’s largest lenders to give buyers a helping hand by enabling them to access competitive purchase and remortgage products, ideal for customers making their first steps onto the property ladder and those simply looking to remortgage.”
To find out more about Countrywide’s exclusive mortgage products and services, contact your local Palmer Snell office or visit www.propertywide.co.uk