957 households in Scotland have already taken out a mortgage and purchased a house using this UK government scheme, the overwhelming majority of these (80%) were First-time buyers.

The Help to Buy mortgage guarantee scheme is supporting responsible lending, with the average house in Scotland bought under the scheme costing around £112,000 well below the average Scottish house price of £180,575. The average house price to income multiple in Scotland, under the mortgage guarantee scheme, is just under 3x salary.

Most people are not aware that the Help to Buy (Scotland) Scheme is available for Home Movers as well as first time buyers.

If you are looking to move to a new-build house but cannot raise sufficient deposit the Help To Buy Scheme can help. It can provide up to 20% deposit on New homes up to a value of £400,000. The buyer will be responsible for 5% of the deposit and all outlays.

For more information please contact us.

Buy to Let lender The Mortgage Works has recently published The Ultimate Landlords Guide.

Contents

★ An overview of BTL including a guide to investment strategies

★ Responsibilities of being a landlord

★ Information on finding a BTL property and choosing your target tenant group

★ A guide to BTL mortgages and how they differ from residential mortgages

★ Consideration of letting agents versus self management

★ How rental yield and capital growth are calculated

★ Exit strategies including tips on selling a BTL property and consideration of tax

★ Worksheets to calculate net profit, useful links and glossary of terms.

Download a copy at

http://www.themortgageworks.co.uk/includes/pdf/Independent-Landlord-Guide-16-10-13.pdf

Current Buy to Let deals are available from 2.99% fixed for 2 years with some tracker deals starting at even lower rates. They are available for either purchase or re-mortgage and for up to 75% Loan to Value.

Please contact us for more details.

The best re-mortgage deal currently available is a 2 year fixed @ 1.94% with a £999 arrangement fee, free legal fees and free valuation.

For more details  of this and other mortgage deals contact us.

The new Bank of England boss warned lenders  that they could be asked to restrict mortgage borrowing terms or be forced to hold more  cash on their balance sheets to dampen an over-heated market. He still maintains interest rates would stay at a record low of 0.5 per cent for the next three years. 

Mark Carney says he is ‘acutely aware’ of the  risk of a house price bubble and is prepared to curb the property market if  necessary.

The Bank’s plan to keep rates at rock bottom levels is the key message of Carney’s flagship ‘forward guidance’ policy. It has  received a poor reception in the City.