With the decrease in property values throughout the country this has led to houses being down to their most affordable since 2003. This does not necessarily mean that people can actually buy the houses given the deposits needed to access the various different mortgages available. The general opinion is that you NEED 25% deposit - well you do if you want the best rates, however the true figure is 10% deposit, and even 5% in some cases. With the government also introducing schemes to assist first time buyers to purchase new build properties there are a number of options available. If you think you cannot afford to buy and are wondering what you need to do, how much you need to earn, what deposit you need, what income is acceptable then please get in touch with an adviser & they will be able to answer all these questions. More information is also available on our website http://www.comparethemortgagemarket.com
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