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First-time buyers lifeblood of the mortgage market, says A&L

At the first-time buyer summit held by the Conservative party today, Alliance & Leicester says first-time buyers are the lifeblood of the mortgage market.

Stephen Leonard, director of mortgages at Alliance & Leicester, says: As house prices continue to go up and with the increase of existing homeowners buying second homes, more and more young people who want to get on the housing ladder for the first time are finding it extremely difficult to find affordable housing.

Increasingly, they are finding other means to help them face these difficulties.

“Recent research conducted by A&L shows that parents intend to help their children onto the property ladder by giving them an average of 17,677* more than enough for a deposit on their first home.

Furthermore, almost half (46%) of those parents planning to help out believe buying a roof over their childrens heads is still part of their parental duties*.

Lenders are playing their part to help the first time buyers cause.

A&L lends money on an affordability basis which enables buyers to borrow money according to their individual financial circumstances and is not based on rigid income multiples.

Since moving to this model last year, the number of first time buyers turning to A&L has increased.


66% Back the introduction of energy inspectors

Some 66% of Mortgage Strategy Online readers back the government’s decision to introduce energy inspectors. But trainee home inspectors still say the solution is a slap in the face after the time and money they invested in becoming full inspectors. This week Mortgage Strategy asks: “Is the Tory party’s revamped Right to Buy scheme a […]

Interest-only trap could snare FTBs

I’m on holiday enjoying the remote beauty of the Exmoor National Park. One of the perks, but also the pains, of a holiday in the wilds is that it is difficult to get service on your mobile phone or internet connection. Which is why the initial impulse to move out of the urban sprawl and relocate to the peace and quiet of the countryside has quickly worn off.

Interest rate rise could stabilise housing market

A rise in interest rates could ultimately be a good thing for the housing market, says Jonathan Cornell, technical director at Hamptons Mortgages. The Bank of England indicated in its inflation report last week that there is a 50% chance of inflation rising above 3% within the next six months, which means a further rise […]

Advantage joins Trigold’s ENC

Advantage is te latest tender to join the Enhanced Non-Conforming sourcing modult on Trigold. Advantage plans to work in partnership with Trigold to support the ENC which offers brokers a sub-prime sourcing tool.

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Guide: how to… audit your auto-enrolment scheme compliance

As the Pensions Regulator starts to bare its teeth and the changes mentioned in the Budget and Queen’s Speech start to come into force, it is essential that you understand your scheme and the processes you need to undertake to ensure it remains compliant. Our second re-enrolment guide looks at how to audit the key areas of your auto-enrolment scheme.


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