The Times - Buyers play the long game on home loans

Many borrowers have never really heard of longer-term mortgages and a couple in The Times decided to take a 35-year loan,  instead of the 25-year and more traditional mortgage. They did this after a broker suggested it would help their monthly repayments remain more affordable. Today, first-time buyer interest-only mortgages are almost impossible to obtain for first-time buyers with smaller deposits. Clydesdale Bank recently pulled its Low Start interest-only mortgage, specifically designed to help first-time buyers on to the ladder, citing a lack of demand as increasingly conservative buyers look to capital repayment loans. Aaron Strutt, product manager at Trinity Financial, told The Times: “It’s a shame this mortgage has been withdrawn as it was a great idea. Clydesdale was not receiving as many applications as they would have liked, especially with the amount of compliance required to process these mortgages.” Click here to view Trinity Financial in The Times £ We are not responsible for the accuracy of the information contained within the linked sites accessible from this page. February 21, 2014