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The Mortgage Advice Center are based in Truro, Cornwall but can help home buyers and commercial clients all over the UK. The Center’s main aim is offer quality mortgage and insurance advice to clients. The Mortgage Advice Center say their all their advisers are experienced, customer focused and driven. The Mortgage Advice Center say the experience of their advisers means they know the best way to approach all cases even the most awkward.The Mortgage Advice Center offer guidance through the entire mortgage process, from initial quote to completion they give all clients free quotes, have an unrestricted product range and can even help clients with adverse credit.
One of the many products The Mortgage Advice Center can offer advice on includes the help to buy scheme and help to buy mortgages. On the help to buy website, helptobuy.org they say, “The Government has created the Help to Buy scheme to help hard-working people like you take steps to buy your own home. Whether you want to get onto the housing ladder or move up it, Help to Buy makes it possible to buy a new-build or existing home priced up to £600,000 with as little as a 5% deposit.”
The governments Help to Buy was first announced by George Osborne in the 2013 budget, the governments plan is a little bit controversial, some commentators say it just inflates property prices further and is very similar to the U.S governments sub prime home loans that caused the 2008 financial crisis.
Help to Buy consists of two different schemes they are the equity loan scheme and mortgage guarantee scheme. Both schemes are aimed at first time buyers and existing home owners who wish to purchase a new build property. For the equity loan scheme the U.K government loans the buyer a deposit of up to 20% the buyer then only has to provide a 5% deposit which means a 75% mortgage is required to fund the home purchase. For the first five years the buyer will not be charged interest or fees on 20% of the equity loan. For the mortgage guarantee scheme government guarantees the lender 15% of the mortgage value because of the governments guarantee lenders can offer home buyers 80-95% mortgages.
Contact Info:
Name: Mark Stubbles
Email: Send Email
Organization: Mortgage Advice Center
Address: 10 Strangways Terrace, Truro, Cornwall TR1 2NY
Phone: 01872250190
Website: http://www.mortgageadvicecenter.co.uk/
Release ID: 80162
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