NewBuy concern
04 Feb 2012
Some experts have raised doubts over the Government’s NewBuy scheme to help people to move house or buy for the first time, even if they can afford a deposit of only 5%. Mark Harris, of SPF Private Clients, the mortgage broker, says: “We are still awaiting crucial information: which lenders will be involved and what the mortgage rates are likely to be. We expect that rates will be similar to current 95% deals, meaning that borrowers will pay a premium compared with those with bigger deposits.” Ian Cowie, in the Telegraph, details the perils of bridging loans, which he believes people are turning to because of banks and building societies’ current tighter lending criteria.
The Times, Page: 64 The Daily Telegraph Your Money, Page: 3 The Guardian, Page: 2
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