This week, activity remained strong with another 309 potential buyers registered, 290 viewings booked, and 95 new offers received.
Are you thinking of buying?
The government recently announced a new mortgage guarantee scheme to support a new generation in realising the dream of home ownership. This will increase the availability of 95% Loan-to-value mortgage products, enabling more buyers to access mortgages without the need for large deposits.
Due to launch in April, the mortgage guarantee scheme will see the government 'guaranteeing' 95% mortgages for buyers with 5% deposits. The scheme announced in the March Budget has been designed to encourage banks and building societies to offer 95% mortgages again and give a genuine and substantial lift to the housing market.
Under the terms of the scheme, the government will guarantee the portion of the mortgage over 80%, with a 95% mortgage; this means the remaining 15%. In practice, it means the government will partially compensate the lender if a homeowner fails to pay their mortgage.
It is hoped that lenders will soon start to release details of their 95% government-backed mortgage schemes for lending to the public to begin in April.
If you would like to learn more, please call us on 0121 323 4999 to arrange a Zoom appointment or click on the following link https://www.green-property.com/page/mortgage-shop.html