Mortgage Advice for First Time Buyers, First Time Buyer Mortgages and First Mortgage Advice

Alliance and Leicester deemed best for first-time buyers

09-Jun-2008

The best mortgage providers in Britain have been recognised at a ceremony in London.

Attendees acknowledged the current difficulties being experienced by first-time buyers, while lenders were judged for their products, service and marketing techniques.

Best lender for first-time buyer products was deemed to be Alliance and Leicester at the Legal & General Mortgage Club event, while Accord Mortgages was awarded the Best Overall Lender prize.

"The lending landscape has changed dramatically over the past 12 months," Ben Thompson, director of mortgages at Legal and General, told the audience.

Going on to note the importance of "celebrating the positives" of the housing market, he added: "We lead the way in giving lenders unique distribution opportunities and the lenders we work with are the best in the business."

Best lender for buy-to-let products at the awards was BM Solutions, which also scooped best lender for 100 per cent plus products.

Following the Bank of England's decision to hold interest rates at five per cent last week, the managing director of first-time buyers' portal FirstRungNow.com suggested that "a period of stability" for first-time buyers has commenced.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need

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Interest rates are low but could rise? Is this a good time to buy?

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Varialbe rate mortgages go up if bank interest rates do. Which is your preference?

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Interest only mortgages are cheaper but in the end you don't end up owning the property. Which is better?

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House prices are waivering. Do you think this is a good time to buy?

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Shared equity mortgages allow you to buy a new home with 5% deposit and an equity loan through FirstBuy. What do you think?

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Rent to buy allows you to peg a property price, save towards a deposit and pay reduced rent. What do you think?

Works best in a rising market
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