Royal Bank of Scotland has reduced the rate of its five-year fixed Help to Buy mortgage by 0.05%, earning it an 'excellent' rating as a result.
This mortgage now has a competitive rate of 4.89% fixed until 31.12.20. It is available at a loan-to-value (LTV) of 95% and has absolutely no product fees.
The finer details…
This deal is only available to house purchase customers with a 5% deposit. There are no incentives accompanying it, but borrowers can make overpayments of up to 10% of the outstanding balance per annum, which gives them some welcome repayment flexibility.
This mortgage is also available through NatWest.
Why we like it…
Modest deposit holders who are looking to get on or move up the property ladder are likely to view this latest reduction with interest. This deal now offers borrowers an attractive rate, which is enhanced by the absence of any product fees and the flexibility of overpayments, making it a good all-round product.
Moneyfacts rating: Excellent
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