We use cookies on this site. By continuing to browse you are consenting to this. Find out why we use cookies and how to manage your settings.
Include:
Include:
First-time Buyer Repayment Trap

First-time Buyer Repayment Trap

Jacqui, 16th October 2020

Last weekend 10th October The Times reported on the Government Help to Buy Scheme, which has been in operation since 2013. The article points to the fact that after the first five years the interest free loan that was taken out becomes repayable, in most instances this will be at an uncompetitive mortgage rate.


The advice at this time of uncertainty is to try to look to the future when taking on one of these schemes. Although this is a great way for first time buyers to obtain a foothold into the market, you need to remember that in five years’ time the loan will need to be repaid, or provision made for the additional amount of interest payments.

 

The full article can be read here https://bit.ly/3m4XQ0H


< Back to news

"Dear Julie, thanks for your lovely email ....I have been a Fraser Wood client for decades and found everyone very helpful at all times .. please convey my thanks to Carol and especially Andrew."

JESSON ROAD, WALSALL
FREE instant online valuation >