A new low deposit first time buyer mortgage is launched by the Leeds.
The Leeds Building Society has launched a new first time buyer mortgage to help more would-be home-owners climb on the property ladder.
It is currently one of only a handful of low 5% deposit mortgage deals on offer market-wide.
With just 5% as a deposit, first time buyers can get a 5 year fixed rate mortgage for 95% loan to value at a competitive rate of 4.59%.
Applications cannot be made directly with the lender, it is a mortgage exclusive and you must apply by calling 0800 048 8828.
When compared against other lenders deals including Abbey which offers a rate of 4.79% and the Nationwide which offers a rate of 4.64%, the rate offered is cheaper.
What about the fees charged?
On its 5 year fixed rate first time buyer mortgage the Leeds charges booking and completion fees totally £699. Fees on Abbey and Nationwide's 5 year first time deals are £643 and £699 respectively.
With rates and fees varying from deal to deal and some lenders offering incentives and some not, is pays to seek advice and a mortgage comparison through an impartial and independent expert.
On your behalf a highly trained adviser at Deal Direct will review all deals on a 'like for like' basis, to work out whether it is the Leeds, Nationwide or Abbey which offers the most affordable product overall.
In addition to looking at these lenders' first time ranges, we will review ALL first time buyer deals available countrywide. We will find you the best deal on offer to perfectly suit your financial needs and circumstances.
To find out which mortgage is most affordable overall call Deal Direct on 0800 048 8828.
