Informed
Joined: 23 Mar 2009
Posts: 12
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| Posted: Mon Mar 23, 2009 2:51 pm Post subject: New mortgage product aimed at first time buyers |
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A major UK mortgage lender has this month launched a new product aimed at assisting first time buyers by allowing parents to help their children get on the property ladder.
This product allows the parents to act as guarantors to the mortgage loan and will allow mortgages of up to 90% LTV. The buyer can also take into account rent received from renting out a room in the property.
This mortgage product can also be used for next time buyers wanting to climb further up the property ladder but struggling with affordability, enabling parents to help in this case as well. |
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