Three of the best mortgages for first-time buyers
Whether buying a first home, moving up the property ladder or just looking to invest it is always a good idea for borrowers to find and compare the best mortgages lenders currently offer.
Three of the best mortgages for first-time buyers come from the Mansfield, Lloyds TSB and HSBC. The Mansfield Building Society offer a 3 year fixed rate mortgage at 5.99 per cent for 95 per cent LTV, the deal will revert to the lenders variable rate after the fixed term and a £999 arrangement fee will be charged. The Lloyds TSB offer a 95 per LTV 'Lend a Hand' mortgage at 4.04 per cent, in order to be accepted for the deal borrowers family members must deposit 20 per cent of the value of the property into a linked savings account. For those with a 10 per cent deposit the HSBC are offering a 2 year fixed rate mortgage at 3.84 per cent for 90 per cent LVT with no fees.
The best mortgages for those home-owners looking to switch to a tracker come from the HSBC and First Direct. The HSBC have a lifetime tracker at 2.09 per cent above the base rate for 70 per cent LTV with no fee and First Direct are offering a tracker mortgage at 1.49 per cent above the base rate for 2 years at 65 per cent LTV with a £1,499 fee. For those who want the safety of a fixed deal the HSBC has a 2 year fixed rate mortgage at 2.28 per cent for 60 per cent LTV with a £1,999 booking fee.
