extremely difficult to make your way onto the property ladder.
Although there is a lot of information that first time buyers need to understand before taking the plunge to owning their own property, there are a number of initiatives that could offer crucial help.
Help to Buy Scheme
- Only deposit of 5% required to qualify for 20% loan & 75% obtained through a mortgage lender.
- Loan payments remain interest free for the first five years
- They are then charged at a rate of 1.75% per year
- Equity Loan scheme is eligible for purchases of new build properties in England worth up to £600,000.
- If you are unable to afford the mortgage to buy a house outright, it may be worth considering shared ownership
- You take a mortgage for a percentage of the property (25% - 75%)
- Rest of the property is owned by the housing association & you will pay a rent on that share
- Shared ownership properties will be leasehold properties, meaning you own the lease on the property
- Shared ownership properties also incur a service charge towards the maintenance and well being of the property - this is usually payable monthly.
How Airline Mortgage Shop can help
- We'll never ignore the allowances, deductions and specialist payments unique to aviation staff
- We have access to 90 leading UK lenders from over 11,000 products
- We are the leading mortgage broker in the UK that specialise in Aviation
Airline Mortgages are able to offer a helping hand when looking to make your mark on the property ladder. Contact the team today to speak with an adviser to find out more.