Is a Help to Buy mortgage price war on the cards?
Smaller deposit buyers are likely to come out as winners if the price war that is going on between Help to Buy mortgage lenders escalates.
Barclays are the latest lender to release a Help to Buy mortgage range with 3 year fee free deals starting from 5.35% and 5 year deals from 5.49%.
With just 5% as a deposit buyers are being offered a leg up by the scheme which has been opened up to all types of property both new-build and existing.
The scheme which offers taxpayer-backed guarantees to lenders on mortgages offered at high LTVs, is definitely proving to be a winner for both lenders and buyers alike.
As more lenders come on board and join the scheme competition is intensifying which is pushing down rates. There is now far more choice on offer for lower deposit buyers looking to climb on or move up the property ladder.
While Help to Buy mortgage choice is increasing there are competitively priced alternatives offered by those not wishing to offer mortgages under the scheme. Lower deposit mortgage rates have fallen market-wide.
If you would like a comparison of the very best mortgage available to match your available deposit and personal circumstances, you are recommended to make a call to Deal Direct.
We are an independent 'whole of market' mortgage broker working solely in our clients' interest and NOT in the interest of any lender. We can compare all mortgages market-wide to ensure that you end up with the very best deal on offer.
For independent advice and a low rate quote,
call 0800 048 8828.
