First-Time Buyers in Hull compared Hull’s housing prices to the rest of Yorkshire and found that they were lower in price. than places like York. In Hull, the average deposit contribution for a First Time Buyer is £18,000 which is quite a bit less than the Yorkshire average of £23,000.
Buying your first home can be a little bit daunting, but we’re here to help with all the challenges of finding your perfect place.
Looking for a better mortgage deal? Or to release some of the equity in your home? The process is often not as easy as it first appears.
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This can be one of the popular mortgage options available for those wishing to invest in the residential & rental property.
As someone pursues a mortgage, they might receive help from family members or friends. This generous history can sometimes be the piece that brings an applicant over the edge to meet their goal
A mortgage broker can also sometimes provide access to a lower loan-to-value panel, where applicants will be able to find more competitive deals and rates.
In Hull the average purchase price for First Time Buyers is £127,000 – it’s 24% cheaper than Yorkshire’s average.
Once you have the average deposit amount and property price, you can then estimate your interest rate by calculating a loan-to-value percentage. A lower value typically results in better rates.
Hull mortgages have an average LTV of 86%, which is higher than the Yorkshire or UK average of 85%.
Hull offers a diverse range of housing for first-time buyers. In addition, the property market is affordable. As such, Hull could be an ideal place to start your mortgage journey in Yorkshire.
If you are interested in buying a home for the first time, speak with an advisor to get help connecting you with brokers and lenders.
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