‘Confidence returning’ to Mid Ulster housing market

First time buyers
First time buyers

Confidence is returning to the housing market in Mid Ulster, the manager of a local bank has said.

Brenda Kerr, branch manager of the Danske bank in Magherafelt said they had seen a rise in first-time buyers coming forward.

“Confidence is beginning to return to the housing market, with house prices and transaction numbers starting to rise. Across the bank we are seeing demand from first time buyers in particular, with over 50 per cent of our new to bank mortgages in the first half of this year going to customers buying their first home.

She added: “With our pricing reductions and incentives we want to take away some of the worries typically associated with buying a new home, such as high interest rates, arrangement fees, the need for a large deposit or fears about future rate increases.

“And it’s so easy to take out a mortgage with us - our fully qualified mortgage specialists are available for meetings in a branch or over the telephone, with evening and weekend telephone appointments available meaning customers can arrange their mortgage from the comfort of their own home and outside working hours.”

Danske Bank say they have cut rates across the majority of its mortgage products, introduced a competitive new fixed rate product exclusively for first time buyers and introduced 95 per cent loan to value mortgages for both first time buyers and switchers.

The new campaign sees rates as low as 2.28%.

There are no arrangement fees and the Bank has extended its £500 cash back incentive for the duration of the campaign.