The current UK housing market scenario is not very promising for first time buyers. This is because credit has dried up and deposits are a must. The main problem is that now even banks are not coming forward to offer 100% mortgage. This is because the credit crunch has hit them hard which has resulted in a dent in their enthusiasm about investing in the housing market.
The worst hit is first time buyers and those looking for a fast house sale as they are finding it extremely difficult to chance upon a suitable mortgage provider. Most of them have gone to the extent of withdrawing products. The products that are available come with such exorbitant interest rates and arrangement fees that first time buyers can never hope of laying their hands on them.
Tags: conveyancing, quick house sale, repossession, Sell And Rent Back