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First time buyers Guide

FIRST-TIME BUYERS

Financing your home

100 per cent LTV mortgages

Many mortgage lenders are now willing to lend 100 per cent of the property value to first-time buyers. This means you won't need a deposit, so you only have to save for your home-buying costs. However, 100 per cent mortgages may come with a slightly higher interest rate, or extra fees such as a Higher Lending Charge (HLC), which can apply to LTVs of over 95 or even 90 per cent. (It is the policy of some lenders not to levy an HLC however much you borrow.)

 

 

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FIRST RUNG NOW

FirstRungNow has been set up to help first time buyers. With prices so high in the UK, many need to be shown what the financing and ownership options are. FirstRungNow is the place to go.

KEY WORKER HOMES

The Key Worker Living scheme was launched in the spring of 2004. Are you entitled?
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SHARED OWNERSHIP

Buy a share of a property, and pay rent on the rest to make it affordable.
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FINANCE YOUR FIRST HOME

If you are thinking of buying a first home, it is important you find out how much you can borrow and you understand the costs and how much deposit you will be able to put towards it.
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