You are here: Home - Uncategorized -

Government mortgages to cost more

0
Written by:
13/03/2006

Mortgages offered to some first-time buyers under a Government scheme to help them get a foot on the housing ladder will be charged at higher interest rates than mainstream homeloans.

 The Government has confirmed that mortgages offered – in the main to key workers – via its Open Market Homebuy scheme to be launched in October, will be more expensive than typical home loans.

In a written Commons answer, the Government said discussions were continuing with the three lenders involved, but that they are ‘likely to charge a small premium on the interest rate of a typical mortgage’.

Mortgage experts said rates could be almost one percentage point higher than on a typical mortgage.

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Government off target on child poverty

Tony Blair’s pledge to eradicate child poverty by 2020 has missed its first target.

Close