First-time buyers have had a rough deal during the pandemic – first as mortgage deals for buyers with smaller deposits all but disappeared from the market, and later as surging buyer demand pushed up property prices.

Now, however, first-time buyers can see the first glimmer of hope on the horizon, with the number of 90% LTV mortgages – for buyers with a 10% deposit – almost doubling between 1 December 2020 (88) and 1 January 2021 (160).

While this number remains far below the number of 90% LTV products available in March (779), the figures are now at least going in the right direction.

Overall, product choice is on the up across the board, with products for those able to offer a 15% deposit also rising sharply.

Your home may be repossessed if you do not keep up repayments on your mortgage

Catch up on our other blog posts:

Stamp Duty – Just a Reminder!

Stamp Duty – Just a Reminder!

The temporary raising of the nil-rate Stamp Duty band threshold to £500,000 ended on 30 June. The measure was introduced in July 2020 to maintain confidence in the housing market during the pandemic. Don’t despair if you missed the deadline, as there's now a tapered...

read more
A Record Summer for house prices?

A Record Summer for house prices?

House prices continue to rocket, with the Nationwide House Price Index1 revealing annual house price growth of 13.4% in June, the highest level since November 2004.  The extended Stamp Duty holiday, in addition to the new mortgage guarantee scheme and changing...

read more

(Your home may be repossessed if you do not keep up repayments on your mortgage)

We charge a fee for arranging and advising you on the mortgage. The fee will be dependent on your circumstances but will not exceed £499. (Our typical fee is £299.)

For Lifetime Mortgages/Equity Release the fee will be £799.

Our mission is to provide honest mortgage advice, whilst helping you save money.

Get in contact

Flexible appointments

Or call —02380224925

R

Providing helpful and friendly mortgage advice in Southampton

First Floor, 9 Salisbury Road, Totton, Southampton, SO4O 2HW

02380 224 925

info@southcoastmortgages.com

South Coast Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 59 The Avenue, Southampton, Hampshire, SO17 1XS. Registered Company Number: 08414746 Registered in England & Wales.