England's first-time buyers with 10% deposit struggle to find mortgage

More and more lenders halt such deals despite the English housing market reopening

First-time buyers in England are being locked out of the recently reopened housing market because there are hardly any mortgages available to those who can only manage a 10% deposit, it emerged this week.

Mortgage lenders have been busy pulling home loan deals catering for those homebuyers looking to borrow 90% or more of the property’s value, with some saying they simply could not cope with the unprecedented demand.

Continue reading...

from Property | The Guardian https://ift.tt/2BQLS8P
via IFTTT