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New research has shown just how hard graduate, first time buyers, are hit by the debts built up during their years at university.
New figures from the Royal Bank of Scotland (RBS), have shown that not only will first time buyers with student debt, find it harder to save for a deposit, the loans will also impact on the size of mortgage they can afford to repay.
Harder to save for a house deposit
The figures from RBS show that student loan repayments will eat up 7% of the disposable income available to a graduate first time buyer, after essential bills are paid....
September 11th, 2012
A wide range of stories this week, from the EU voting to ban mortgage redemption penalties, to more confirmation of the stagnant housing market.
EU to ban mortgage repayment penalties?
Members of the European Parliament have voted to ban early repayment penalties on most mortgage products. However it isn’t all good news for mortgage borrowers, despite the vote to ban redemption penalties it seems as though lenders will still be able to receive ...
June 16th, 2012
In another week packed full of housing news, we take a look at concerns over the NewBuy mortgage scheme and a rise in mortgage approvals.
It also seems that interest rates are on the rise as the crisis in the Eurozone continues to affect the UK mortgage market.
Concerns mount over NewBuy mortgage scheme
Are you looking ...
May 19th, 2012
Even though it was only launched a few short weeks ago the government’s flagship scheme to help first time buyers seems to have run into trouble.
The NewBuy mortgage scheme is supposed to help people with small deposits, particularly first time buyers, buy new build properties. However, the Home Builders Federation (HBF) have voiced concerns that the scheme has not been embraced by mortgage lenders as it should have been and that it is “not at all what was envisaged”.
The Executive Chairman of HBF, Stewart Baseley has sent a letter to home builders in which he said that the NewBuy scheme ...
April 2nd, 2012
