A mortgage expert has issued a warning to any first-time buyers who are hoping to get on the property ladder using an incentive. With house prices continuing to soar across the UK alongside rising interest rates, it is becoming even more difficult for people to afford to buy their first home.
Recently, Skipton Building Society launched an 100 percent mortgage, the first of its kind since before the 2008 financial crash, in a bid to help 'trapped' renters onto the property ladder with a no deposit and no guarantor scheme.
But a personal finance expert at NerdWallet has now warned first-time buyers to be 'cautious' and says it is imperative that people don’t get carried away with 'disastrous' schemes and incentives in the hopes of buying their first home.
