| |
Share, Like & Tweet!
|
|
|
|
|
< back to news stories
Mortgages deals on the rise but deposits still high
09/09/2011
The amount of mortgage deals available have risen back up to the same level from 2008 before the property market crashed and the banking crisis peaked.
However, deposits required on the average mortgage stays high which means many first time buyers are missing out. According to moneyfacts, there are currently 2,557 different mortgages available in the UK, and out of these 64% require a minimum of a 20% deposit whilst a mere 2% require a 5% deposit or less.
This means that many people are being discouraged from buying a house as they cannot afford the deposit. With first time buyers needing to find at least a 10% deposit before they can even consider their options many are finding that mortgages are becoming harder to apply for.
With deposits being this high, equity release is looking like a promising solution. With equity release plans such as the lifetime mortgage, you can free up some money from your home to help your children or grandchildren to get the deposit they need to invest in their future.
To find out how equity release can help you and your family to avoid the problems of high deposits contact the right equity release.
|
| |
|