We can help you find your perfect mortgage today...

Telephone: 0793 176 1122

0793 176 1122

Government pledges more affordable housing for first time buyers

Posted on Thursday 15th October, 2015

David Cameron pledged 200,000 more starter homes in his closing speech at the Conservative Party conference.

In what he called a ‘dramatic shift in housing policy’ the new rules mean that builders no longer have to offer low cost rental homes in new developments.

Instead, they will be able to offer homes to first time buyers under 40 at a discounted price – up to £250,000 outside London and £450,000 inside London.

No doubt this will be welcome news for many aspiring young homeowners who haven’t been able to get a foot on the ladder due to high house prices and the huge deposits required.

If you’re a first-time buyer, there are lots of ‘Help to Buy’ mortgage schemes out there right now.

Typically they require you to:

  • Have a deposit of between 5% and 20% of the house value (5 year interest free equity loans are also available to help you get a larger deposit together).
  • Repay the capital (interest only deals are not included)
  • Prove that you intend to live in the house most of the time (buying to let as a second home is not permitted).Regardless of whether you’re participating in the government scheme or not, let one of our experts guide you through the mortgage maze and find the right deal for your needs. 0800 970 179507702 312259
  • terry@acorn4mortgages.co.uk
  • In more cautious times, lenders have only been willing to participate in the scheme because the government will guarantee up to 15% of the value of the mortgage if the borrower defaults on a payment.

Contact us now Let us help you with your mortgage needs →

Our Other Services
What we need to tell you

Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee for mortgage advice will be charged on completion of your mortgage. This fee will typically be £300 up to a maximum of £500. We will receive commission from the lender in addition to the fees you pay. We also offer a fee only option of £1,000 – any commission received would be refunded if you choose this option.

Get in touch

Tel: 0793 176 1122
Email: office@acorn4mortgages.co.uk
Skype: acornmold

Facebook: facebook.com/acorn4mortgages
Twitter: @acorn4mortgages

The Legal Stuff

© Acorn4Mortgages Limited. Registered address: The Office, Ffordd Pentre Bach, Mold, CH7 4EG. Office Address: PO Box 241, New Brighton, Mold, CH7 6QN. Registered in England & Wales under number 4270415. Acorn4Mortgages - Privacy Notice.

Acorn4Mortgages Limited is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. Our advice is covered under the Financial Ombudsman Service.