Lenders best mortgage incentives to attract new business become more unusual.

Lenders best mortgage incentives used to attract new business, seem to be getting more unusual. Fee free incentives, cash-back and help with stamp duty are not all that is currently on offer.

Some regional building societies such as the Dudley have started to offer ‘introduce a friend’ incentives. In the case of the Dudley their best mortgage incentive is an offer of a £200 Argos card for recommending a friend who then takes out a Dudley mortgage.

Others offering slightly more 'offbeat' incentives include the Teachers Building Society who are offering £100 towards the mortgage-holders subscription to the NUT. The Leeds Building Society offer a 0.24 per cent rate discount for taking out its buildings & contents insurance.

While such incentives are perhaps a little more 'interesting', they are only likely to be worthwhile if the mortgage rates offered are competitive.

However whatever lenders can do to help first-time buyers climb on the housing ladder all helps. Some lenders such as the Nationwide offer slightly more worthwhile incentives such as a special savings account called Save to Buy. After paying in £50 per month for six months an application can be made for a 95 per cent LTV mortgage.

The Halifax offer a similar product called Head Start Home Saver where £150 per month must be paid in for a year after which £600 cash-back is given if a first time property buyer mortgage is taken out.

Lenders mortgage incentives such as cash-back can be useful providing their rates are priced competitively. Deal Direct are fully up to date on all lenders offers and can source the best mortgage deals currently on offer in the UK today.

Contact Deal Direct for a competitive mortgage.