Buyers unaware of incentive schemes


In a study of over 2000 homebuyers, the leading house builder Barratt Homes has found that almost two-thirds are unaware of the government's flagship mortgage indemnity scheme.

One of the biggest barriers that buyers are coming up against is the need to save for a huge deposity in order to be accepted for a mortgage but the Newbuy Scheme which was launched by the government in 2012, is designed to allow buyers - whether first-time or second-steppers - to purchase a new-build property with a mortgage at an LTV of as much as 95%.


On average first-time buyers believe that they require at least a 15% deposit for their first home and althougb Barratt claims that 10% is a more realistic figure, there are a wider range of mortgages available to buyers if they have a 20% deposit saved.  
 
The report from Barratts did produce some good news - the proportion who had difficulties obtaining a mortgage had halved from 30 per cent to 15 per cent compared to last year. There was also  a similar decrease in the number of people who had struggled to sell their houses in the current market.

As well as the need for a large deposit on a home, a shortage of affordable homes for first-time buyers was cited as another problem area to for potential house hunters. Only 5% of those surveyed said that they had found it easy to find a property.

Source: http://www.insidehousing.co.uk/tenancies/buyers-unaware-of-government-mortgage-scheme/6525601.article

call us

Speak to an account manager on:

0161 971 0775
email

Enquire by email:

info@simplyonlineleads.com
online

Sign up and start buying leads today

Register Online

Simply Online Leads Awards

close awards

Wealth & Finance Magazine Finance Awards 2015

Most Trusted Lead Generation Firm 2015 - UK

Acquisition International 2014 Finance Awards

Most Outstanding Lead Generation Firm 2014 - UK

Wealth & Finance Magazine Finance Awards 2014

Best Network for Mortgage Brokers

Wealth & Finance Magazine Finance Awards 2014

Recognised Leader in Lead Generation

Acquisition International 2013 Finance Awards

Most Outstanding Lead Generation Firm 2013 - UK

Close SoSmartMoney

SoSmart Money Our Comparison Website

sosmartmoney

SoSmart Money, our own online comparison site, provides thousands of consumers with a free and simple way to shop online for a number of different personal finance products, including mortgages and insurance.

As a reliable comparison site, the mission of SoSmart Money is to provide information, articles and guidance for consumers on finding the best products for them, whilst working closely with brokers to ensure they are being provided with the best quality leads.

SoSmart Money has a trusted relationship with a wide network of partners – yet consumers just need to fill in one easy, secure form to access quotes or speak to a professional adviser. The customer journey is kept simple for the consumer – and keeping this transparent for the broker allows you to maximise conversion once you pick up the enquiry from the customer.