Review Chelsea's market leading 2 year fixed first timer buyer mortgage.
The Chelsea BS has launched a 2 year fixed first timer buyer mortgage which is topping best buy tables.
For 90% LTV a 2 year fix is available at 3.54%, fees are set at £1,545 which may seem high, however because of this the lender has been able to set the rate low.
This new first time buyer mortgage has taken the 'market leader' title away from HSBC, which offers 'first for first time buyer' deals with a pledge to beat other lenders offers.
While HSBC has a 2 year fixed rate deal at 3.59% with fees of £999 if you have an account with the bank, or fees of £1,499 if you don't, its price promise has a catch which means it will not be matching Chelsea’s first time buyer rate.
It pledged to match deals from Nationwide, Barclays, Halifax, Woolwich, Royal Bank of Scotland, Lloyds TSB, NatWest and Santander.
As around a fifth of lenders are not included in the HSBC price promise, perhaps its pledge is not quite as bold as it first appears. Perhaps all lenders need to be included for its pledge to be really comprehensive and mean business.
If you are looking for a first time buyer mortgage, or if you are looking to move home or remortgage you are advised to search the market to find the best deal for your circumstances.
For help with your search to find the most affordable mortgage call Deal Direct on 0800 048 8828.
Call an adviser today for a low rate mortgage.
0800 048 8828
