Those who take out
Managing director of first-time buyer services firm Firstrungnow.com Helen Adams said such deals could help some buyers to get on the ladder, but added: “You should always be aware that those costs will go up at the end of the period.”
Whether such arrangements will be a good idea or not in any particular case “depends upon the circumstances of the borrower”, she added.
She added that keeping fees down is one thing borrowers will find it harder to do, as agents and lenders are having to levy these to meet their costs in a restricted market.
These indicated a five per cent month-month increase in lending in October.