YOUR Move estate agents has unveiled a new mortgage product designed specifically with first and second time buyers in mind.
The Family Guarantee Mortgage product requires no deposit and the guarantee, which is equal to the amount over and above 75 per cent of the loan, compared to the value of the property, is secured against a residential property of a parent, step-parent or a grandparent.
The aim of this new product is to help first and second-time buyers get onto or move up, the property ladder and be able to make their purchase without having to put down a substantial deposit. In some cases this has been as much as 10 per cent of the value of the property.
Sara Lang of Your Move Kirkby, said: “We appreciate how difficult it is for first-time buyers to get onto the property market so the launch of this new product is very welcome.
“Added to this second-time buyers, who have been unable to move house due to lack of deposit levels, could find this product is the solution to their problems.”
If you would like to find out more information about the Family Guarantee Mortgage product available through Your Move simply contact Sara Lang at Your Move Kirkby or call at 01623 720072.