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Top 5 first-time buyer mortgages

Top 5 first-time buyer mortgages

Category: Mortgages

Updated: 25/11/2013
First Published: 25/11/2013

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 It is now over 6 months old so the content may be out of date.

Recently the number of mortgages available to those hoping to buy their first home with only a 5% deposit has soared.

Borrowers now can choose from a number of mortgage options, ranging from two, three and five-year fixed deals to discounted variable rates, being offered by the UK's leading banks and building societies.

Below we've listed the top 5 fixed rate 95% LTV mortgages that are currently available.

Top 5 first-time buyer fixed rate mortgages

HSBC
HSBC
4.79% fixed to 31/03/2016
  • Maximum Loan-to-value 95%
  • Rate fixed for two years
  • Fees: booking £99
  • Help to Buy mortgage guarantee product

Penny saysPenny says…
"This brand new Help to Buy mortgage guarantee product from HSBC offers a chart-topping 4.79% fixed for two years to borrowers with at least a 5% deposit.

"This value-for-money deal comes with a very reasonable £99 booking fee"

Norwich & Peterborough Building Society
Norwich & Peterborough Building Society

4.89% fixed
  • Maximum loan-to-value 95%
  • Rate fixed for two years
  • No product fees
  • Incentives: Free valuation fees and a £500 rebate

Penny saysPenny says…
"orwich & Peterborough BS's offering costs just 0.10% more than HSBC's top deal, but charges no product fee.

"Borrowers will certainly benefit from the generous incentive package that includes free valuation fees and a £500 rebate, making this deal great value for money."

Yorkshire Bank
Yorkshire Bank

4.99% fixed to 31/01/2017
  • Maximum Loan-to-value 95%
  • Rate fixed for 3 years
  • No product fees
  • Incentives: Free valuation fees and a £250 rebate

Penny saysPenny says…
"For borrowers looking for a little more certainty over their repayments Yorkshire Bank is offering a three-year fixed deal priced at 4.99%.

"As an added bonus this fee-free product includes incentives of free valuation fees as well as a £250 rebate, making it highly competitive."

Yorkshire Building Society
Yorkshire Building Society

5.09% fixed to 28/02/2019
  • Maximum loan-to-value 95%
  • Rate fixed for 5 years
  • Fees: Completion £845, Arrangement administration £130

Penny saysPenny says…
"This mortgage offers a highly competitive rate to those with only a 5% deposit who want peace of mind that their repayments won't change over five years.

"Borrowers must take note that they will be charged a relatively high fee of £975 when taking out this product."

Norwich & Peterborough Building Society
Norwich & Peterborough Building Society
5.29% fixed for 5 years
  • Maximum loan-to-value 95%
  • Rate fixed for 5 years
  • No product fees
  • Incentives: Free valuation fees and a £500 rebate

Penny saysPenny says…
"Another product from Norwich & Peterborough BS allows borrowers to fix their payments at a competitive rate for five years.

"This deal charges no fees and includes incentives of free valuation fees and a £500 rebate, which will help borrowers to keep upfront costs to the absolute minimum."

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: 25/11/2013

What next?

Speak to a mortgage adviser
Compare first time buyer 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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