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Mortgage Boost for Cornish First Time Buyers

news - housing

Published by the Pirate FM News Team at 4:37pm 12th March 2012

Cornish first-time buyers say plans to bring back ninety-five percent mortgages can not come quick enough.

Up to a hundred thousand people across the country could be offered one, as part of a new scheme.

The government and builders will back it.

Jack Deakin from Helston is facing a battle with the banks: "I'm living at home at the moment, with my parents, simply because I can't afford to buy or rent anywhere. On the wages that I'm on, it's very difficult to actually afford a mortgage, but the hardest bit is basically getting a deposit. The minimum amount that you need is ten percent which, to be honest, these days is pretty difficult to get.

"It just gives you the freedom to go out and do stuff and be your own person and do whatever you want to do. With me, where I'm living with my parents, you're kind of tied into letting them know what you're up to all the time, and just sort of, checking back there, and effectively living with someone else."

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