Joscelyne Chase

Mortgage Market 2016 review

Joscelyne Chase | 21/12/16   Caroline Fox

A review of the mortgage market from our Independent Mortgage Advisor, Caroline Fox

As 2016 draws to a close, so too the Government help to buy guarantee scheme which has helped many by making 95% mortgages available to more buyers (particularly first time buyers). It is expected that some lenders will continue to offer 95% mortgages along with other schemes to help people get onto the housing ladder.

It is also estimated that approximately 17% of first time buyers receive help from parents or other family members. In the last year it has been reported that parents lent £5.3bn to help their children (leave home!), making the Bank of Mum & Dad the UK’s tenth largest lender!

Anyone thinking about buying their first home should really start to save as much as possible and seek independent mortgage advice sooner rather than later.

If you would like more information about the mortgage market, please contact Caroline Fox at Cfox@keyfin.co.uk.