Mortgage advice Beverley on government schemes helping first buyers

The government has been showing a keen interest in letting the first time buyers purchase their own house. To take full advantage of this you need help from a mortgage advisor Beverley who offers their exclusive service to you. In this way you will not need to hire an estate agent. Mortgage advice Beverley will be available for a number of government schemes as discussed below.

More than three thousand new build homes are under construction, according to reports from the local authorities in Beverley. This coupled with the decline of buy to let landlords are increasing the number of properties available on the market for the first time buyers. What favours this ascent is the fact that the government has also come up with a number of new schemes which make it easier for these buyers to avail mortgages.

However, the seemingly mountain load of paperwork frightens people who are considering the prospect still. So, getting mortgage advice Beverley is a good option for many such buyers who need to act fast so that they can put forward their offer while it is still available. The demand being steep, it is important that decisions are taken on the right time.

The first scheme that needs special mention is definitely help to buy. Meant for the first time property buyers to purchase a new build house, help to buy has been received with welcome arms. Under this scheme, you can buy a house whose value is not more than GBP six hundred thousand. The first twenty per cent of this price is available interest free for the first five years. To qualify you need to deposit at least five per cent of the deposit money. This scheme is great for those who are comfortable with a small deposit.

The right to buy or right to acquire scheme is for tenants of a council home. If they qualify, they have a preserved right to buy the house from their landlord before the ownership is transferred to another, at a discount which will depend on the type of property as well. Another important requirement is that the tenant should be there for a non-consequent period of three years under any public-sector housing. After a growing demand, this has been extended from a few areas to entire England.

New buyers can also go for shared ownership scheme under which they can buy a house at three quarters of its price from a council or housing association and pay a discounted rent for the remaining portion. If possible they can also buy the house for its full value at a later period. Good news is that the restriction on eligibility for owning a house under this scheme has been lifted. You can get all the details from your mortgage advisor Beverley and get started with the preparations of buying your home under a suitable scheme.

With so many lucrative options available and the time favouring the new buyers, only a mortgage advisor Beverley can help you in understanding every possible detail with the right mortgage advice Beverley.

Resource Box: Getting mortgage advice Beverley through an mortgage advisor Beverley can help the new buyer to find a suitable scheme offered by the government.