UIA Insurance News

'Better deals available' for first-time buyers – and on home insurance too

New deals are making it easier for first-time buyers to get on the property ladder ? and shopping around for better home insurance quotes could help save even more money.

Ben Wilkie, editor of What Mortgage, said the increasing availability of high loan-to-value mortgages was helping first-time buyers unable to provide a sizeable deposit.

"[T]he housing market seems to be back on a slightly more even keel [and] there's bit more confidence to mortgage companies. To attract customers [companies] have to be a bit more flexible with their loan-to-values," he said.

Mr Wilkie pointed out that a ten per cent deposit was difficult for many potential buyers to raise and the previous requirement was much higher.

Figurers from Moneyfacts.com indicate as of the end of February this year, 489 mortgage deals were available with a requirement of between ten and 15 per cent deposit ? an increase of 90 per cent from a year earlier.

When looking to get the best deal as a first-time buyer, it is important to shop around ? something which could also save money on house insurance quotes.

By David Leonard

Apply for your home insurance with UIA and you can save up to 15%