Tipton & Coseley BS has launched a new three-year discounted variable rate mortgage to the market aimed squarely at first-time buyers, which has stormed straight into the Moneyfacts best buys and earned an "outstanding" rating thanks to its highly competitive rate and terms.
This mortgage is priced at 2.84% to 31.12.19 (1.90% disc), the joint lowest available for its terms. It comes with absolutely no fees whatsoever and is available at a loan-to-value (LTV) of 95%.
The deal is offered to homebuyers with a deposit of just 5%. As an added bonus it allows borrowers to make lump sum and regular overpayments, as well as allowing drawdown advances (provided certain conditions are met), offering some welcome flexibility.
This new mortgage has comfortably taken hold of the charts thanks to its leading rate and added flexibility, which together with the complete lack of fees, will make this an appealing choice to first-time buyers looking to keep their budget in check. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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