April 19, 2021
Lenders start offering low deposit mortgages to house buyers
House buyers in Mid Wales and Shropshire can access low deposit mortgages from today (19 April 2021).
As part of the UK Chancellor’s Budget announcement, the new scheme means many banks and building societies will allow home buyers with a 5% deposit to access mortgages of up to £600,000.
It means many more people will be able to buy their own home in Powys, Shropshire, Ceredigion and Gwynedd.
Morris, Marshall and Poole with Norman Lloyd, one of the region’s largest and oldest estate agents, believes the move will help more younger people on to the housing market, in addition to others.
The mortgages will be available until 31 December 2022. They are available for all properties, except buy-to-let and second homes.
Stuart Potts, an independent mortgage advisor based with Morris, Marshall and Poole with Norman Lloyd, is available to discuss the range of mortgages available. Through the Mortgage Advice Bureau has access to hundreds of mortgages through lenders.
He can provide independent advice through one-to-one sessions (adhering to Covid-19 social distancing regulations) and can be contacted via telephone and email.
Call one of our offices at Newtown, Welshpool, Oswestry, Machynlleth, Aberystwyth, Llanidloes, Rhayader, or Tywyn to arrange a meeting.
You can find out if the new scheme is right for you by reading our blog about 95% mortgages here.