Have you heard the latest, and if not, why not?
It’s more than likely that you’ve had your head buried in the latest Netflix series, so we’ll let you off. However, if you still don’t have any idea to what we are talking about, you really do need to catch up.….. because NOW is your time to BUY as 5% deposits are back!
Our Wolverhampton estate agent Belvoir has witnessed a rolling demand on properties in the area. It’s giving us a real buzz, the bars and restaurants are opening again, life is getting back to normal and we are revelling in the positivity.
But what does this all mean?
Under the scheme, first-time buyers, home movers and previous homeowners with a 5% deposit have access to 95% loan-to-value mortgages (meaning the loan is for 95% of the property’s value)
In a nutshell, this is great news for people wanting to get into the property market. All that is required is as little as a 5% deposit. This means it relieves the pressure and allows first time buyers a better chance of getting onto the property ladder.
We have seen first-hand; prices rise once again in Wolverhampton and a massive influx of new buyers.
The main issue we come across usually, is peoples credit score. In the past quite a lot of people have been declined. However, with the new government back scheme the opportunity to buy a property has become so much easier.
We hope you are as happy about this news as we are – this new scheme will run until December 2022.
If you are now wondering if you may be eligible, do not just sit on it or begin a new Netflix series.
Call your local Belvoir office today on 01902 267111 to see your eligibility for a 5% deposit or government back mortgage, and we will book you in for a free no obligation mortgage appointment.
Speak soon!
