Its still hard being a first time house buyer

 

There were 361,000 first time buyers in 2005 and the majority will find it a struggle on their own.

Whilst the average house now coats £170,086, in 2005 first time buyers paid an average of £127,863.

Mortgage providers will traditionally agreed to lend 3.5 times on one salary and 2.75 on a couples joint salary. That means the average first time buyer with a 100% mortgage will have to be earning £36,500 a year. A couple buying together will have to earn £51,000. Not chicken feed! (cheap life insurance)

Of course some lenders will agree higher income multiples, but that will be dependent on the borrowers employment prospects.

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Did you Know? (health insurance)

The golden rule is if you want cheap life insurance , dont go to your bank. Why? For certain your bank will charge you through your nose – if you dont believe us, get a quote from your bank and compare it with an online quote from a life insurance broker. Youll be amazed at the price difference!

Did you Know?
According to Land Registry figures, there has been a huge increase in the number homes sold for £1m plus. Despite what youd expect, this hasnt caused the scramble for business youd expect from lenders. Many of them are exercising caution when it comes to the well-heeled mortgage seeker. Surprisingly, the best deals go to the smaller borrower. It seem as if lenders would prefer to lend 10 borrowers £150,000 each rather than one loan of £1.5m, in order to spread the risk. (best mortgages)

It is, however, beginning to get easier to get mortgage quotes for high value homes. Recent figures from the Land Registry show a massive increase in the sales of million pound plus properties.

Todays Tip
If you want cheap motor insurance quotes then ensure you get some quotations from car insurance brokers. The brokers will compare the premiums from the various UK insurance companies and find you the best deals. And as in many things in life, remember that the cheapest is not necessarily the best – always check out the details of the insurance cover – for example, whether legal assistance or windscreen cover is included and whether a courtesy car is provided if your car is being repaired. Also check out the excesses on the policies you are being offered.

Did you know?
Buying your car insurance policy online guarantees you the best deals. Thats why 53% of all car insurance is now bought online. And when it comes to renewal time, shop around the Internet again! Please dont accept a renewal notice automatically without first checking out prices on the ‘net – theres a good chance that you can still get it cheaper! (life insurance quotations)

Did you Know?
Early methods of transferring or distributing insurance risk were practiced by Chinese and Babylonian traders as long ago as the 2 nd and 3rd millennia BC. Chinese merchants traveling treacherous rivers would redistribute their stock across many boats to limit the loss due to any single boat sinking. The Babylonians devised a system which was recorded in the Code of Hammurabi, circa 1750 BC and was used by early Mediterranean sea traders. If a trader received a loan to fund his shipment, he paid the lender an extra sum in exchange for a guarantee that the lender would cancel the loan should the shipment be accidentally destroyed or stolen.