News: 95% mortgages on the market

The Government, last week, announced plans to support first time buyers by providing up to 100,000 new Government backed mortgages at up to 95% loan to value for new build properties in England.  Prime Minister David Cameron said Britain had fallen into a cycle which “lenders won’t lend, builders can’t build, and buyers can’t buy” and the new plans are a move to “unstick the market”. The strategy also unveiled plans to invest £400m in an initiative to build an additional 16,000 new homes, this injection of funds could see new building work starting as early as July next year.

These announcements will come as welcome news to First Time Buyers struggling to save enough money for a decent housing deposit and although these new mortgages apply primarily to new build properties is it worth doing your research as 95% loan to value mortgages are starting to appear on the market, visit Money.co.uk for their table of Top 10 95% mortgages.