/ Author: SPF

It is interesting to see that High Street lenders in the UK are now offering borrowers a deposit of just under 5% under a new government guarantee scheme. The policy, announced in the Budget, is designed to help more first-time buyers secure a home.

Currently, the maximum loan to value mortgage without additional security in Guernsey is 90%. The market could do with a 95% loan to value mortgage for first-time buyers. The monthly mortgage repayments are generally affordable, but locally the difficulty is funding the deposit and fees. Hopefully lenders in Guernsey will look to introduce a 95% product going forward.

Whether you are considering making your first move on to the property market or just want to check that your current mortgage is as competitive as it should be, we can offer friendly, helpful advice on every mortgage product available on island.

To find out more email [email protected] or call us on 01481 715234