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Product focus: First time buyer mortgages

Product focus: First time buyer mortgages

Category: Mortgages

Updated: 27/04/2011
First Published: 27/04/2011

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Springtime is often referred to in the housing market as 'house-hunting' season. Many first-time buyers who are venturing onto the property ladder this season will be looking for a mortgage product which suits their needs. A large number of lenders offer products designed especially for first-time buyers, often with higher loan-to-values.

Here is a selection of some of the best two year fixed mortgage deals available to borrowers with a deposit of 10% or more.

HSBC

  • This mortgage deal offers a rate of 5.39% to 31 July 2013.
  • The maximum loan-to-value is 90% and first, second time and remortgage customers can borrow up to £400,000.
  • A fee of £999 is payable and remortgage customers can enjoy free legal fees.

Santander

  • This two year fixed deal from Santander offers a rate of 5.55% to 2 July 2013.
  • Available to first and second time buyers, the product has a maximum loan-to-value of 90% and customers can borrow between £6,000 and £250,000.
  • A fee of £499 is payable.
  • An incentive package of a free valuation and a £250 rebate upon completion is offered to all borrowers.

NatWest Mortgage Services

  • This deal, available to first-time buyers only, offers a rate of 5.69% to 31 August 2013.
  • The maximum loan-to-value is 90% and customers can borrow between £25,000 and £300,000.
  • No fee is payable and a £250 rebate is offered upon completion.
  • There is also the option to make overpayments of up to 10% per year.

Find the Best Mortgage Rate - Compare best selling mortgages

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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