Click n Go Mortgages recommends shared-equity deals
www.moneynews.co.uk > Mortgages > Click n Go Mortgages recommends shared-equity deals
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Money News |
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Click n Go Mortgages recommends shared-equity deals
Wed 13th Aug 2008
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Hayley Martin, team leader at the mortgage advice company, said such schemes are set to become more popular as the credit crunch contines.
She said a major advantage was that "you don't have to put a deposit down if you don't have one".
Click n Go has reported an increase in enquiries this year about shared equity.
Ms Martin added that it is "really easy" for first-time buyers to secure such a deal, explaining that they can buy back 15 per cent of the property from the builder within ten years or adopt a local authority's Home Buyer scheme.
A Pink Home Loans survey in July found that 40 per cent of intermediaries were considering shared-equity mortgages as an option for first-time buyers.
Meanwhile, a survey of young adults at this summer's Glastonbury Festival by the Chartered Institute of Housing, Mendip Housing and the Aster Group found that less than one per cent of respondents owned their house through a shared-equity deal.
Click here for more mortgage news.
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Related News : Housing market |
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