Finally There Seems to be Real Help For First Time Buyers! For many potential homeowners one of the biggest stumbling blocks they face when attempting to buy property is not the actual mortgage itself, it is in fact the huge deposit which banks are currently requiring from all potential clients to insure that their investment is protected.
We are all too aware of the current financial mess that many solid financial institutions like banks are currently facing and believe it or not things are due to get a lot worse before they get better. With the 100% mortgage none existent banks are now trying to recoup their losses & secure any future investments by making budding new home owners pay out tens of thousands of pounds in deposit fees alone.
Let’s be a little more accurate the average UK property price is 220k, currently most homeowners will need at least a 15- 20% deposit to buy, let’s be positive & take the lesser value of a 15% deposit which in this case will equate to a whopping 33,000.00 this will automatically rule out a lot of people.
Buying a property in London at 220k has other associated costs involved such …