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Top 5 cracking first-time buyer mortgages

Top 5 cracking first-time buyer mortgages

Category: Mortgages

Updated: 11/10/2013
First Published: 11/10/2013

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 It is now over 6 months old so the content may be out of date.

If you’re an aspiring homeowner looking to take your first step on to the property ladder have a look at our list of the top 5 first time buyer mortgages currently available.

Here are the top 5 first-time buyer mortgages:

90% LTV


Mansfield
Building Society

3.43% discounted variable rate for 3 years
  • Maximum loan-to-value 90%
  • Fees: Arrangement £999
  • Incentives: Refunded valuation fees (max £400)
  • Borrow from £25K to £300K

Penny says: “Offering a chart-topping discounted variable rate to borrowers with a 10% deposit is this product from Mansfield Building Society.

“This fee-free product includes incentives of refunded valuation fees for all borrowers, which will help keep costs to a minimum.”

90% LTV


Hanley Economic Building Society
4.09% fixed to 31.10.2015
  • Maximum loan-to-value 90%
  • Rate fixed for 2 years
  • Fees: Arrangement £100, booking £200
  • Incentives: Refund valuation fees (max £240) and £250 rebate
  • Borrow from £30K to £475K

Penny says: “Borrowers looking for a fixed rate would do well to consider this first time buyer product from Hanley Economic BS if they have a 10% deposit.

“This product charges a reasonably low fee of £300. Borrowers will also benefit from the incentive package that includes refunded valuation fees and a £250 rebate.”

95% LTV


Yorkshire Bank
4.99% fixed to 31.12.2016
  • Maximum loan-to-value 95%
  • Rate fixed for 3 years
  • No product fees
  • Incentives: Free valuation fees and £250 rebate

Penny says: “Yorkshire Bank is offering a chart-topping rate of 4.99% fixed for 3 years to first time buyers who only have a 5% deposit.

“This fee-free product includes incentives of free valuation fees and a £250 rebate, making it best value for money.”

95% LTV


NatWest
4.99% fixed to 31.12.2015
  • Maximum loan-to-value 95%
  • Rate fixed for 2 years
  • No product fees
  • Help to Buy mortgage
  • Call direct on 0800 068 8512

Penny says: “This Help to Buy product from NatWest matches Yorkshire’s rate of 4.99%.

“This Best Buy product charges no fees and the rate is fixed for two years.”

95% LTV


NatWest

5.49% fixed to 31.12.2018

  • Maximum loan-to-value 95%
  • Rate fixed for 5 years
  • No product fees
  • Help to Buy mortgage
  • Call direct on 0800 068 8512

Penny says: “Borrowers looking for a five-year fixed deal could consider this market-leading Help to Buy product from NatWest.

“Borrowers looking to keep upfront costs to a minimum will benefit from this product as it charges no fees.”

Disclaimer:
Your home may be repossessed if you do not keep up with repayments on your mortgage.Written quotations are available from individual lenders. Loans are subject to status and valuation and are not available to persons under the age of 18. All rates are subject to change without notice. Please check all rates and terms with your lender or financial adviser before undertaking any borrowing

Information & Rates correct as at: 11/10/2013.

What next?

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Mortgage repayment calculator

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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