Help to Buy mortgage gets top rating | Product News - Moneyfacts

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Help to Buy mortgage gets top rating

Help to Buy mortgage gets top rating

Category: Mortgages
Date: 04/09/2015

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 It is now over 6 months old so the content may be out of date.

Post Office Money has reduced the rate of its three-year fixed rate Help to Buy mortgage by 0.11%, earning it the top accolade as a result.

The basics…

This mortgage now has a rate of 4.48% fixed until 31.12.18, the lowest rate currently available in its sector. It is available at a loan-to-value (LTV) of 95% and has absolutely no product fees.

The finer details…

As this is deal falls under the Help to Buy guarantee, it is only available to house purchase customers with a modest deposit of just 5%. There are no incentives accompanying the mortgage, but borrowers do have the potential option to reduce their mortgage term by making overpayments of up to 10% of the outstanding mortgage balance.

Why we like it…

The latest rate decrease to this deal has cemented its place in the charts. Borrowers with only a small deposit are therefore likely to view this offer with interest, particularly as it is accompanied by no product fees, while the option to make overpayments further enhances its appeal and adds some welcome repayment flexibility. This is an outstanding product that fully deserves the highest Moneyfacts rating.

Moneyfacts rating: outstanding

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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