Britannia Share to Buy to benefit graduates
www.moneynews.co.uk > Mortgages > Britannia Share to Buy to benefit graduates
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Money News |
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Britannia Share to Buy to benefit graduates
Tue 10th Oct 2006
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The mortgage will allow up to four graduates or young professionals to buy a house that is a multiple of three times as much as each of their salaries.
It is a joint venture between Britannia and specialist intermediary Graduate Network designed to offer expert advice alongside a product that is specially tailored towards young first-time buyers.
Managing director of Britannia's Member Business Tim Franklin relayed: "Many graduates and young professionals have built up sizeable debts as students, but even with a city income these young people are struggling to purchase a home."
"With many people feeling that rent to a landlord is money down the drain, it is becoming more acceptable for friends to club together in order to purchase a property," Mr Franklin continued.
Under the terms of the Britannia Share to Buy mortgage, a comprehensive legal agreement is drawn up for free that highlights key issues of joint ownership.
Graduate Network's product range assists young first-time buyers with purchasing a property from many UK mortgage lenders and the Britannia Share to Buy mortgage is an exclusive product available online.
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