Single first-time buyers in London risk being priced out of the housing market after it emerged that mortgages are now costing them nine times their annual salary.
Nationwide has discovered that the salary-to-value ratio has hit its highest ever level, meaning that many people who don`t have a friend or partner to buy with have little hope of ever being a property owner in the capital.
Across the UK, first-time buyer homes are worth 4.9 times of their salary, which is a little short of the pre-crash level of 5.2, which was experienced in 2008. However, with concerns about the continual growth of house prices, even more people could find it increasingly difficult to afford a mortgage.
That`s where First Choice Finance can help, we`re an established mortgage adviser with access to multiple plans within the mortgage market, which means that we can identify the most suitable deal for you from our panel, whether you are a first time buyer or a home mover. All you need to do is give us a few details and your finance adviser will get the ball rolling, initially by working with you to get a free quote.
Only when and if you`re happy with the figures and details, we`ll get on with processing your mortgage application so you can move into your new home as soon as possible.
Find out more about how we can help you buy a home by visiting firstchoicefinance.co.uk or call us and speak to our finance team. From a mobile, it`s 0333 003 1505 or from a landline, it`s 0800 298 3000.
Homeowner Secured Loans
Rates From 7.1% APRC
Representative Example £30,000 over 72 months @ £679.90 repayments. Total payable of £49,949. 20.1% APRC including £2,975 intermediary fee and a £995 lender fee. Loans secured on property.
First Choice are tied to certain loan providers.
Mortgages & Remortgages
Borrow £80,000 over 25 years
At 4.6% Variable, £461.95 for
300 months. Total Payable
£138,585. Total Cost Of
Credit £58,585 (incl £1360 fee).
Unsecured Personal Loans REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Security is required on
Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.
First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014-2018.
If you have a poor credit rating you may find it more difficult to find a loan here at First Choice Finance we have specialist lenders offering a range of poor credit loans so enquire online and speak to us we may be able to help even if you have been declined finance in the past.