First Mortgage News

The introduction of the Mortgage Market Review (MMR) last year brought with it strict affordability criteria, making things increasingly difficult for many first time buyers. With the dust now settling and the MMR now firmly bedded in however, the implementation seems to have caused minimal disruption to the market overall. There is one particular area […]

It is a common misconception that mortgages are limited to a 25 year repayment period, but this could not be further from the truth as there is now a growing trend towards longer repayment terms – some as long as 40 years. According to the Council of Mortgage Lenders (CML), the number of individuals opting […]

With competition in the mortgage market continuing to intensify, and showing no signs of abating, the outlook for first time buyers remains positive as lenders attempt to win new custom. There has been a significant reduction in fixed rate products over the last few months, with two year fixed rates starting as low as 1.19% […]

First Time Buyer Numbers Continue to Gather Pace Figures released from Halifax reveal the number of first time buyers rose by 22% to 326,500 in 2014, which followed a 23% rise in 2013. The average cost of a home bought by a first time buyer increased by 9% to £171,870.This increase takes the amount of […]

The Scottish Government is to invest a further £40 million in a scheme designed to help first time buyers and “second steppers” on low to moderate incomes get onto the property ladder. This takes the total available to £70 million for the financial year 2015/16. The Open Market Shared Equity Scheme (OMSE), offers eligible buyers […]

Ruth Alexander from BBC Radio4’s Money Box Live discussed the latest news from the mortgage market on Wednesday. Sharing their experiences alongside her were her guests including: Melanie Bien, Mortgage and Property Finance Expert, Ray Boulger, Senior Technical Manager, John Charcol and Kevin Gardiner, Sales Manager at First Mortgage. Whether you are a first time […]