Getting on the property ladder may not be as difficult as it seems. At the end of the 2011, the Government announced a number of measures to help home movers move up the ladder, and first-time buyers to get a foot on their first property rung.
These measures 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, Countrywide has launched its ‘Time to Nest’ campaign and Estate Agency offices across the UK have a number of specialist advisors on hand to provide advice for all potential home movers including; first-time buyers, homeowners looking to trade up or access new mortgage products, and landlords who are looking to grow their property portfolios.
2012 looks set to be a promising year for the property market. Within the first few weeks, Countrywide agents have already seen an increase in new buyer enquiries and homeowners looking to get their property valued. Buyer demand is still strong and although deposit affordability continues to be a hurdle for many potential buyers, properties that are competitively priced are being snapped up.
Countrywide operates the largest mortgage broker service in the UK and its 650 mortgage consultants, based in the UK wide branch network, have found that in recent weeks, at least nine of Countrywide’s Top 10 Mortgage Products have been fixed-rate products.