The Times - First-time homebuyers face a new affordabilty squeeze
Many first-time buyers applying for a mortgage with Nationwide Building Society may now have to find a bigger deposit after the lender announced changes to its affordability limits.
Aaron Strutt of Trinity Financial, told The Times: “Potential customers with smaller deposits will be disappointed with this change, especially when they find out how much money they need to put in to buy a property.
“The market is incredibly complicated at the moment with lenders offering different loan sizes and rates depending on your deposit.”
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