More Mortgages Available for First Time Buyers

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.

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.

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

• 20%

• 15%

• 10%

• 5%

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

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

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

• 50

• 100

• 150

• 71