Guarantees worth up to PS12bn will be offered to try to UNLOCK PS130bn of high loan to value mortgage
So, maybe we will soon see the introduction of a new, re-engineered MIG scheme, allowing lenders to insure the risky element of a high loan to value mortgage
and actually lend to all those would-be first time buyers who do not have access to the bank of mum and dad.
Recently, SFC began offering high loan to value mortgage
loans (125% LTV) through its retail division.
An upturn in the number of high loan to value mortgage
products for first-time buyers this year, including housebuilder and Government-backed shared equity schemes, has helped in making home ownership a reality for many thousands of people previously shut out by the banks," added Mr Lees.
David Ritchie, chief executive of Bovis Homes, said: "In the current market, the ability of purchasers, especially first-time buyers, to access high loan to value mortgage
finance has been severely curtailed.
This helps lenders to offer more and better rates of interest on high loan to value mortgages
The Welsh Government and house-builders will act as guarantors so that buyers can secure high loan to value mortgages
, contributing just a 5% deposit.
Rather than making funding directly available to buyers, the Welsh Government and house builders will act as guarantors so that buyers can secure high loan to value mortgages
which would not otherwise be available to them.
And some great fixed rate deals and high loan to value mortgages
available mean it really is the time for buyers - particularly first timers - to make a move.
The range of high loan to value mortgages
also comes with zero fees, with tracker interest rates from 3.
Extending the scheme will provide a boost for first time buyers and can help avoid high loan to value mortgages
The Government has set aside PS12bn of guarantees for up to PS130bn of high loan to value mortgages
and phase two is expected to remain open for three years.