News Archive:

13/06/2017 - Live by the beach... in London! 13 Jun 2017
08/06/2017 - Election causing buyers and sellers to "wait and see" 08 Jun 2017
06/06/2017 - More lenders target small-deposit buyers, just as house prices slide 06 Jun 2017
02/06/2017 - House prices show longest sustained fall since 2009 crash 02 Jun 2017
01/06/2017 - Apps for surveyors: 2017 edition 01 Jun 2017
22/05/2017 - Conservatives plan to bring back Home Information Packs 22 May 2017
15/05/2017 - Revealed, the least affordable places in Britain to buy a property: 15 May 2017
08/05/2017 - House price growth stagnates in the UK, latest index shows 08 May 2017
06/04/2017 - Dramatic scene after house collapses in affluent street in Kingston 05 Apr 2017
28/03/2017 - Borrowers urged to fix their mortgage fast as rising inflation could soon spell the end of super low interest rates 28 Mar 2017
22/03/2017 - House prices see 1.3% monthly surge 22 Mar 2017
09/03/2017 - UK property market growth continues to rise modestly apart from in London 09 Mar 2017
24/02/2017 - House prices go potty! 24 Feb 2017
09/02/2017 - How the Government's Housing White Paper plans will affect you 09 Feb 2017
08/02/2017 - How to flood proof your home: We visit 'Resilient House' with latest defences to help protect against expensive water damage 08 Feb 2017
30/01/2017 - Homeowners taking advantage of cheap remortgage deals 30 Jan 2017
25/01/2017 - Analysis: Stamp duty is killing the housing market and harming the economy 25 Jan 2017
11/01/2017 - Mapped: Which London neighbourhoods have seen the biggest house prices rise since the crash? 11 Jan 2017
09/01/2017 - January sees largest fall in BTL products since 2009 09 Jan 2017
04/01/2017 - 'Thousands' of Starter Homes to be built in 2017 04 Jan 2017


06/06/2017 - More lenders target small-deposit buyers, just as house prices slide
A row of Sold, For Sale and Let By signs displayed outside houses in Clapton, east London,  
Lenders are targeting people with small deposits

Lenders are aggressively targeting first-time buyers with a flurry of new 95pc mortgage deals.

The number of available mortgage deals where only a 5pc deposit is needed is up 14pc year-on-year, to 287 in June, according to Moneyfacts, the financial data service. In June 2009 there were only six such deals available to borrowers. 

This comes as house prices fell for a third month in a row in May, registering the biggest sustained decline since the post-crisis slump of 2009.

At the same tine, the proportion of successful mortgage applications made by first-time buyers is also rising quickly. 

More than two-thirds (67pc) of applications made via brokers went on to completion during the first three months of this year. This compares with 48pc in the same period last year.

The data, published by Imla, the broker trade body, shows the surge in first-time buyers is propping up the market.


This week AA Mortgages, a division of the breakdown company, became the latest lender to launch a new range of two and five-year fixed mortgages for 5pc and 10pc deposits.

While it previously offered mortgages for deposits as low as this, they were only available to existing AA customers.

Someone with a 5pc deposit would pay 3.82pc for a two-year fixed rate with no fee and £400 cashback. Its five-year fix for 5pc deposit is the market leading rate at 3.99pc.

Last month Yorkshire Building Society cut the rates on its deals for those with small deposits.

The mutual lender’s two-year fix costs 3.25pc and is available for a 5pc deposit. After the two-year period ends borrowers will go on to the lender’s “standard variable rate” of 4.74pc.

Lenders are keen to snap up people with small deposits as they can charge far higher rates of interest on loans. For instance, Yorkshire will charge borrowers with a 40pc deposit as little as 0.99pc for a two-year fixed deal.

Peter Williams of Imla said the rise in inquiries and completions “shows that a significant number of first-time buyers are still both willing and able to get a foot on the property ladder”.

Source: 06/06/2017