Could lender charges make property to rent more appealing?
property to rent in London may be an attractive option as many lenders are "charging quite a bit" to those who want to borrow money, it has been claimed.
Helen Adams, managing director of FirstrungNow.com, admitted many mortgage providers are starting to offer money increasingly readily to those wanting to purchase a property.
However, she said she is surprised by this and suggested buyers may have to part with more cash.
Ms Adams explained that about a year ago, "you needed about a 25 per cent deposit, but these days there are mortgages to be had for ten per cent deposit but you do get charged more for that".
She also predicted many people will have concerns about this autumn's government spending review and whether it will have a negative impact on job security, which will in turn affect lending.
Yesterday (August 25th), John Charcol revealed an 80 per cent increase in the number of first-time buyers applying for mortgages during July.
Posted by Charles Mackay
Published 26th August, 2010
© 2010 Estates IT Limited
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Property to rent in London may be an attractive option as many lenders are "charging quite a bit" to those who want to borrow money, it has been claimed.