Connells offer help to first-time buyers

30 September 2010

Would-be first-time buyers are being given hope of getting onto the housing ladder by selling agent Connells.

“Before you dismiss any hope of buying your first home come and talk to one of our mortgage consultants and you may be pleasantly surprised to find that owning your own home could in fact become a reality,” says Connells area partner Mark Weller.

It is very important for first-time buyers to know how much they can afford. At Connells, a mortgage consultant will go through the costs involved in buying a property, such as survey and legal fees, and help buyers work out what deposit they can put down.

Although lending criteria have tightened since the credit crunch began in 2007, historically low interest rates and lower house prices have helped affordability. Connells can offer mortgages of up to 90 per cent of a property’s value and for those situations where first-time buyers can’t meet the income multiples for a loan, Connells has arrangements with some lenders who will accept a guarantor, such as the applicant’s parents.

“It is advisable to sort out your mortgage even before you have found the house you want to buy. Most lenders will agree a sum ‘in principle’, which can add credibility to any offer you make and indicate the price bracket you should be looking in,” says Mark.

If you’re a first-time buyer looking to purchase a new build property, there are a number of shared equity schemes available through some house builders to help those struggling to get onto the property ladder. “At Connells we are able to offer mortgages through lenders willing to lend on shared equity schemes. This can mean that first-time buyers may only have to put down 5 or 10 per cent of the purchase price,” says Mark.

If you’re a first-time buyer and really want to talk to an expert about making the dream of owning your own home a reality, contact your local Connells branch. 

-Ends-

Further information

For further information and photography, please contact the press office on 01525 215419 or email Julia Brook, Group PR Manager: Julia.brook@connells.co.uk or Christine Webb, Group PR Executive: Christine.webb@connells.co.uk

Notes to editors:

Connells Residential is an appointed representative of Connells Limited who are authorised by the Financial Services Authority for the advising and recommending of regulated mortgage contracts and general insurance contracts. Your home may be repossessed if you do not keep up repayments on your mortgage.

About the Connells Group:
Founded in 1936, the Connells Group, a subsidiary of the Skipton Building Society, comprises 470 estate agency branches and is the second largest wholly owned estate agency network in the UK. In addition to operating under the Connells brand, which comprises around 150 branches, the Group trades under other well-known local names including William H Brown, Sharman Quinney, Fox & Sons and Barnard Marcus.

As well as residential property sales the Group is involved in a comprehensive range of housing related activities including land and new homes, lettings, surveying, mortgages, conveyancing, relocations, asset management and auctions.

The Connells Group has been named Best Large Estate Agency at the Estate Agency of the Year awards for four of the past six years. For more information, please visit www.connells.co.uk




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