Low mortgage rate deals could offer an escape from the rent trap.
Lenders low mortgage rate offerings and high loan to value deals are providing first-time home buyers with a way out of the rental trap.
Lenders previously demanded high deposits which made it difficult for many to climb up on to the property ladder. However, new lender offerings are changing this situation.
Many lenders are launching new products to attract home-buyers.
Lloyds TSB are offering a product which they call 'Lend A Hand’. They offer a 3 year fixed low mortgage rate at 4.09 per cent with a £995 fee for 95 per cent loan to value. First Direct are offering a 2 year fix at 90 per cent loan to value for a rate of 4.19 per cent with a £999 fee.
Latest figures from the National House Building Council show that house prices may remain low this year while rental costs could move upwards.
Deal Direct suggest that anyone who wants to buy and who can get together a 5 or 10 percent deposit should act soon. There are deals out there for high to loan value and so why pay rent when you could pay the mortgage on your own house?
With new lower deposit deals on offer, property purchase can be achievable for many first-time home buyers this year. Through our market knowledge and familiarity with different mortgage providers lending criteria, Deal Direct can get find you a low mortgage rate deal.
Contact us by filling in our enquiry form
or
you can simply telephone 0800 048 8828
let our skilled mortgage advisers do the rest
