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First-time buyers 100% plus mortgages

21/08/2007

First-time buyers can take advantage of 100 per cent plus mortgages which offer mixed personal loans and home loans.

A member of staff from the Alliance & Leicester group found that mortgages of this kind allowed first-time buyers to afford a property without collecting a large down payment.

With a standard mortgage deal, any home improvements which had to be done, was becoming virtually impossible due to finances. This new deal has given homeowners a chance to budget their outgoings and improve their property.

Head of specialist mortgages Jeremy Claridge, commented: "When innovative products come onto the market, it's important they actually fill a gap and help those who need it most."

He also stated that the increase in interest rates practised over time and the continual growing trend in property has led to a need among first-time buyers for flexible products, making it easier for them to jump on the property ladder.

Edward Jones an investment specialist only just warned Britons that inheritance tax is something, which many will now stand facing due to the growing costs of property throughout the UK.


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