Nationwide declare commitment to fist time buyers

02-Feb-2012

Nationwide Building Society has claimed it will be doing more for first time buyers, but this commitment is not just about providing finances.

The UK's third largest mortgage lender has highlighted education, providing a direct link between savings and borrowing, actively supporting affordable housing schemes and providing guidance through the mortgage process as being just as important as the physical loans for buyers making the first time leap onto the property market.

Martyn Dyson, head of mortgages at Nationwide, said: "We are serious about supporting the housing market and a key part of this is helping new home-owners realise their dreams by getting their foot on the housing ladder."

First time buyers have certainly been struggling of late. Despite the fact that homes have reached their most affordable level since 2003, buyer numbers have reached a record low. The First-Time Buyer Review by Halifax found that many properties in the Midlands and the north were priced within the reach of buyers with a mortgage of £80,000 to £95,000.

Nationwide helps a first time buyer onto the property ladder once in every six minutes, advancing £8.9 billion of mortgages over the six months to 30 September 2011.

There is a vast array of mortgages for first time buyers so seek good advice

Published by Joshua Scott

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