First-time House Buyers: To Buy Or Not To Buy That Is The Question.

Written by Richard Vert

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Various banks have come up with innovative methods to help facilitaterepparttar ability of FTBs to purchase a house which, whilst not addressingrepparttar 149517 real problem of house prices, will allow more people to own their own home.

A guarantor mortgage can increaserepparttar 149518 amount that can be borrowed, as long asrepparttar 149519 borrower’s parents have enough income to cover all their own debts, plus their child's mortgage each month; howeverrepparttar 149520 parent will not have to make any payments themselves unless their child’s mortgage goes into arrears.

An offset mortgage could mean that money from a parent’s savings account can be offset against their child’s mortgage. Althoughrepparttar 149521 parent would not receive interest on their savings,repparttar 149522 reduction inrepparttar 149523 amount to be paid by their child could make a big difference, and they would not incur tax onrepparttar 149524 amount either.

A ‘Professionals’ mortgage is a possibility for certain workers, which allows them to borrow more than their initially low-pay career would usually make them eligible for, onrepparttar 149525 understanding that their future pay will increase rapidly as they become high earners.

Whilst some may urge for caution to preventrepparttar 149526 possibility of building up financially crippling levels of debt, others see a need for buyers to act fast.

Marjorie Townsend, of Lindsays Residential, believes: “The best advice for first-time buyers is to move quickly …There really is nothing to be gained by waiting for a competitive closing date, which will driverepparttar 149527 price up. There are lots of sellers out there who are eager to sell and whose particular circumstances may require a quick transaction."

Overall it seems thatrepparttar 149528 situation for FTBs will continue to prove difficult unless a major change occurs that bridgesrepparttar 149529 gap between income and house prices for those in most need. Recent government initiatives such asrepparttar 149530 Shared Equity scheme, that allows part ownership of property, may go some way to enabling some FTBs to start out, but Ed Davey MP,repparttar 149531 Liberal Democrat housing spokesman, believesrepparttar 149532 policy could make housing even more expensive, "It seems to be looking atrepparttar 149533 demand side which could stoke house price inflation and makerepparttar 149534 problem of affordable housing even worse."

Untilrepparttar 149535 issue of supply and demand is addressed, there will continue to be problems. According torepparttar 149536 Barker Review, which was published in April, up to 140,000 new homes need to be built each year inrepparttar 149537 UK if supply is to keep up with demand. Even if new homes are built at this rate,repparttar 149538 time taken to stabiliserepparttar 149539 market will mean further delays for prospective new buyers who want to own property.

Further information Moneynet mortgage comparisons ( Full NS&I research ( House price reports (

Richard lives in Edinburgh, occasionally writing for the personal finance blog Cashzilla ( ), and praying for a huge lottery win.


Written by Carrie Reeder

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Once you have completedrepparttar companies quick verification process, you will usually receive a direct deposit into your bank accountrepparttar 149516 next business day. Most online payday loan companies will depositrepparttar 149517 money into your account within 24 hours.

Make sure, when you get a payday loan, that you are usingrepparttar 149518 payday loan forrepparttar 149519 shortest amount of time possible and getrepparttar 149520 lowest cash amount you can get by with. This will help you keep your fees to a minimum.

To see a list of recommended payday loan companies online, visit this page: - Carrie Reeder is the owner of ABC Loan Guide, an informational website with articles and more about various types of loans.

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