Online House Hunter: First-time buyers wooed again | Alan Cleaver | Independent Property Blogs

Online House Hunter: First-time buyers wooed again | Alan Cleaver | Independent Property Blogs

WITH all the excitement – or controversy – at the moment about the government’s announcement to get “Britain building again”, it seems a good opportunity to round-up the essential weblinks for that rare and downtrodden species: the first-time buyer.

The government’s plan covers a number of aspects but crucially for first-time buyers will offer to underwrite the risk of some lending on new-build properties, and allow deposits to drop from 20 per cent to five per cent. Another part of the plan aims to ‘unlock’ the construction of around 3,200 affordable homes.

Starting point for those wishing to know more is, in addition of course to The Independent reports, the website of Downing Street. You can download the official government announcement to determine whether it might indeed help you. Key to the changes, is a link with new home-building and the Home Builders Federation is joining with the Council of Mortgage Lenders to provide the indemnity scheme. The CML has some useful guides on its consumer section dealing with issues such as the steps to buying a new home and the cost of a mortgage. The site also has a mortgage calculator to give a quick guide to the sums involved.