Help to Buy mortgage gets 5 stars | Product News - Moneyfacts

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Help to Buy mortgage gets 5 stars

Help to Buy mortgage gets 5 stars

Category: Mortgages
Date: 13/01/2015

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 It is now over 6 months old so the content may be out of date.

Woolwich from Barclays has reduced the price of selected fixed rate mortgages by up to 0.70%, with the two-year Help to Buy mortgage earning a five-star review as a result.

The basics…

This deal now has a rate of 4.49% fixed for two years, the lowest rate for its sector. It is available at a loan-to-value (LTV) of 95% and has no product fees.

The finer details…

As part of the Help to Buy mortgage guarantee scheme, this deal is only available to first-time buyers and homemovers with a 5% deposit.

Borrowers are given the option to make overpayments of up to 10% of the outstanding balance, which provides some welcome repayment flexibility.

Why we like it…

Thanks to the rate reduction, this deal now has the most competitive rate for its sector, something that is sure to garner interest among borrowers with only a modest deposit. The absence of fees further sweetens the deal, as does the option to make overpayments, which makes this mortgage an appealing choice for those looking to get on or move up the property ladder.

The highest accolade of five Moneyfacts Stars has been awarded.

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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