More Mortgages Available for First Time Buyers

More Mortgages Available for First Time Buyers

Assessment

Interactive Video

Business

University

Hard

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Francesca Loftus and James Roberts are excited to soon own a house in Felixstowe, thanks to a government-backed scheme. Initially, saving seemed impossible due to high deposit demands post-financial crisis. However, recent mortgage deals offering 95% loans have emerged, though lenders remain cautious. First-time buyers face stringent credit checks, but options are increasing, helping to stimulate the housing market.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the main reason Francesca and James did not want to return to renting?

They preferred living with family.

They wanted to save money for their own home.

They found renting too expensive.

They disliked their previous landlord.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the initial deposit requirement when Francesca and James started looking for a house?

20%

15%

10%

5%

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential risk associated with the recent surge in 95% mortgages?

Higher interest rates

Fewer mortgage options

Lending spiraling out of control

Increased property prices

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the maximum loan amount most first-time buyers can expect relative to their salary?

Two times their salary

Five times their salary

Three times their salary

Four times their salary

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many 95% mortgage deals were found in an online search for first-time buyers?

50

100

150

71