Budgets A Boon For Contents Insurance Providers.
An insurance vendor has welcomed actions in last week’s Budget geared towards supporting first-time prospective buyers to pay fora house and be approved to get a mortgage.
Chancellor George Osborne said the government is to supply interest-free mortgages forseveral years to individuals who earn lower than £60,000 and would like to pay for a new-build house.
This will likely meanthey may simply have to save up to get a down payment of five per cent of the value of the home and should be able to get better mortgage rates from creditors on mortgages.
Swinton said this is an excellent shift, specifically since recent analysis from the firm found that 96 per cent of consumers at present think it is too tough to buy a 1st property.
Insurance growth manager Steve Chelton said: “This is great news for a market that has struggled with the drastic increase in the price of homes and will hopefully stimulate a crippling housing market.”
Story link: Budgets A Boon For Contents Insurance Providers.