Competitive mortgage rates for first time buyers from Yorkshire BS.
Many mortgage experts are suggesting that with mortgage rates on the rise first time buyers could continue to remain excluded from owning their own home. Experts also advise any future property boom is not likely to help the situation.
Would-be first time buyers are finding themselves stuck in the rental market for a longer period of time than they anticipated. Many are forced to postpone purchasing their first home until later in life when they can afford to save for a deposit.
A recent government housing survey has revealed that 16.5% of households are renting property, and a high proportion of those stuck in the rental trap are first time buyers wanting to buy a home.
Some lenders have started to address the issue of first time buyers needing more affordable deals by re-introducing mortgages for 90 to 95% LTV. The Yorkshire Building Society are one such lender to offer competitive deals with mortgage rates aimed at first time buyers.
The Yorkshire Building Society are offering various new competitive mortgage rates including a rate of 4.49% for a 3 year fixed deal for 90% LTV with a £995 fee. A 2 year fixed rate mortgage is also offered at a rate of 2.84% until 30/6/2014 when it reverts to the standard variable rate of 4.99%. This first time buyer mortgage comes with a fee of £995 and is offered for 75% LTV.
For the most competitive rates offered by UK lenders contact Deal Direct today.
