John Charcol announces two mortgages for first-time buyers

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John Charcol announces two mortgages for first-time buyers

Fri 29th Jul 2011

The independent mortgage advisor and provider John Charcol has announced two new mortgage products aimed at first-time buyers (FTBs).

Stating that FTBs can still be considered for some mortgage products even if they only have a five per cent deposit, the company released two loans with an LTV rate of 95 per cent.

Commenting on the products, offered from Newbury and Saffron building societies, Ray Boulger of John Charcol said: "Charcol is delighted to exclusively offer for FTBs with only a five per cent deposit thinking of buying in England and Wales two very innovative, but very different, mortgage options."

Mr Boulger added that without new buyers entering the market it becomes far harder for those who want to move up the ladder to do so, highlighting that the increase in rental property had not eased the market enough to reverse the need for more first-time property owners.

The announcement comes following increasing numbers of voices in the industry expressing concern at the relatively stagnant level in the property sector, with the Little House Market declaring the "stark reality" is that the sector is slowly grinding to a halt.

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