Lenders best mortgage deal incentives for first-time buyers.
Amongst UK lenders best mortgage deal incentives, is the pledge by the Halifax to pay first time buyers stamp duty.
Mortgage lenders are attempting to attract first-time buyers who have missed out on the stamp duty concession. After 24 March first-time buyers will pay tax on all property purchased above £125,000 at a rate of 1 per cent.
In a move to attract first time buyers the Halifax have announced that they are offering to pay 50 per cent of first-time mortgage buyers stamp duty. The lender is also offering fee free 2 year fixed rate mortgage deals at 85 to 95 per cent LTV at a rate of 5.99 per cent.
Other lenders offering their best mortgage deals with incentives for first time buyers include the Co-operative Bank, who have launched a fee free mortgage deal for 90 per cent LTV. They are attempting to attract first time buyers with a lifetime tracker offered at a rate of 4.09 per cent above the BOE base rate which currently gives a rate of 4.59 per cent. The Co-operative also offer a 3 year fixed rate version at 4.69 per cent.
As the stamp duty concession ends first time buyers will be under more pressure to find a good deal. Many lenders have launched new products at higher loan to value levels and with the newly launched Government NewBuy scheme there are now various mortgage options available.
Deal Direct as 'whole of market' brokers have access to the best mortgage deals available on the market today. We will search the entire UK mortgage market on your behalf to find you the most competitive rate on offer.
