A new mortgage was announced yesterday for first-time buyers. It's the perfect thing for those with a small deposit saved, but it comes with some big restrictions. No problem for Foxtons, though! We've got just the homes to qualify.
To get the full story of the latest mortgage for first-time buyers, read:
New 99% mortgage launched for first-time buyers with just £5,000 deposit
The key to this mortgage is that it only applies to residential houses - not new-build homes or flats - and they must be priced at a maximum of £500,000. Here are a few of our favourites that fit the bill, so they could qualify for this mortgage:
4 bedroom house in Langley
4 beds, 2 baths | £500,000
✓ Modern kitchen/reception finished to an excellent standard
✓ Secluded patio garden with shed storage
✓ Includes off-street parking for 2 vehicles, good location for M4 and M25
3 bedroom mews house in Barking
3 bed, 2 bath | £500,000
✓ Well proportioned with three spacious bedrooms
✓ Bright reception leading to private paved garden
✓ Moments from schools and Barking Park
2 bedroom house in Slough
2 beds, 1 bath | £365,000
✓ Large reception room leading out to the garden
✓ Private spacious and sunny back garden
✓ Off-street parking for up to 3 cars
2 bed house in Charlton
2 beds, 1 bath | £475,000
✓ Newly refurbished, bright and airy home
✓ Both a front and rear garden, as well as a garden shed
✓ Off Charlton Road with own car parking space, plus space for visitors
2 bed house in Selhurst
2 beds, 1 bath | £450,000
✓ A spacious home with double bedrooms, large bathroom and two well-proportioned reception rooms
✓ Private patio with decking
✓ Convenient location for Selhurst Station
3 bed house in Thornton Heath
3 beds, 1 bath | £475,000
✓ Spacious home over 2 floors, with large kitchen and dining rooms and lovely private garden
✓ Offered chain-free for an easy purchase
✓ In walking distance to London Road and Thornton Heath Station
3 bed house in Plumstead
2 beds, 1 bath | £465,000
✓ Beautiful tiered garden with patio
✓ Dual aspect double reception with bay window and woodburner
✓ Stunning luxury bathorom with walk in shower and freestanding bath
The new 99% mortgage requires strict credit and affordability checks, and it might not be the right way to go for some first-time buyers. However, our partner mortgage brokers, Alexander Hall have a wide variety of other innovative solutions, such as affordability enhancements or parental-assistance, to boost the amount buyers can potentially borrow.
Alexander Hall also have access to an incredible range of mortgage products, so whatever your situation requires, these advisers can help find the perfect solution for your first home. Book your free consultation to get started.
