New 2 year fixed rate mortgage range for first-time buyers.
If you are a first-time buyer looking for a 2 year fixed rate mortgage, Chelsea Building Society is launching a new range. The lender is offering an unusual mortgage which is says is in response to first-time buyers' needs.
For details of these offers and other deals in the market, call Deal Direct. We have have access to the best deals available from lenders throughout the mortgage market.
The new Chelsea deals allow offsetting to help home owners make more of savings, at no additional mortgage cost. Customers can also get up to 1% of the mortgage value as cash back. For first-time buyers this could be a big help towards the costs of buying a home.
According to research, many first-time buyers continue to save after they have bought their first home. Offset mortgages usually are usually at a higher rate than standard mortgages so the Chelsea deals, at no extra cost, are unusual.
A 2 year fixed rate mortgage is offered at 2.99%, with a fee of just under £1500. An alternative rate of 3.19% is available with a £495 fee, both deals are available for up to 75% loan to value. It will depend on how much you want to borrow, which is the better deal.
If you have a smaller deposit, a 2 year fixed rate mortgage is also available for 85% loan to value at a rate of 4.24%. With just 10% deposit a rate of 4.29% is on offer for up to 90% loan to value. As with all headline rates, it is still worth comparing the rest of the market, to make sure you get the cheapest offer.
Call Deal Direct for the latest rates.
