Mortgage boost for first time buyers
Filed Under (Mortgages) by admin on 30-09-2009
According to mortgages news today, mortgage lender HSBC has allocated a fund of extra pledge loans for first-time buyers, which could help thousands get onto the property ladder for the first time. The Bank of England recently revealed a fall in mortgage approvals during the August, the first in some 10 months, since the bottom of the market.
The 500 million pounds of extra lending budget will be placed atop the 1 billion pounds already lent by HSBC to those borrowers who can only raise a 10% mortgage hoard . The bank has been the most active lender during the first half of this year, and the next stage in their funding may help to consolidate this position.
The head of mortgages at the lender, Martijn van der Heijden, reportedly commented: “Prices seem to have bottomed out and rates are low so many of those who put off buying last year are looking around.”
Similar Posts:
- 20 per cent greater mortgage affordability
- House signs off on plan to raise government mortgage fees
- Better trading for mortgage lender Northern Rock
- Tracker mortgage borrowers face rise in cost
- Mortgage fees for new borrowers increased
