AWARD-winning local estate agency William H Brown in Wisbech and March are helping first and second time buyers with the launch of ground-breaking 100 percent Loan To Value (LTV) mortgage product.
This new 100 percent Family Guarantee mortgage will enable buyers to purchase a home without the need for a large deposit by allowing parents, step-parents, or grandparents, to guarantee up to 25 percent of the loan.
Over the last two years, the difficulty of raising a large deposit has been the single biggest issue facing first-time buyers. The announcement of this new 100 percent mortgage through William H Brown will overcome this issue entirely where buyers have parents, step-parents or grandparents who can guarantee the loan against the value of their own property.
“This is great news for first and second time buyers who are crying out for mortgages which don’t require huge deposits,” said Amanda Marshall, mortgage services manager for William H Brown in Wisbech.
“We believe these buyers have become disenfranchised from the market because of the need for huge deposits, an issue which until now has not been addressed and has hampered housing market recovery.
“It’s often the case that first and second time buyers can afford monthly mortgage payments but don’t have a lump sum of cash for the deposit.”
Amanda said: “Our new 100 percent Family Guarantee mortgage product will help these individuals obtain their own home, where previously they were blocked out of the market by making a 25 percent charge against a property owned by parent, step-parent or grandparent.”
If you are struggling to raise the money for a deposit and would like to discuss the new 100 percent LTV mortgage with William H Brown, contact the Wisbech or March branch on 01945-464451 or 01354-654545 or email firstname.lastname@example.org or email@example.com