First-time buyers are in desperate need of competitive 95% LTV mortgage deals.
Lenders need to release more competitively priced mortgage deals at 95% loan to value for first time buyers desperate to climb on the property ladder.
Latest CML figures make less than positive reading as it is reported that new mortgage lending is at its lowest for a year.
Inflated March lending figures were felt to be the result of first time buyers rushing to buy before the end of the stamp duty concession. This perhaps goes to prove that the Government could be wrong in saying the stamp duty holiday did nothing to boost first time buyer property purchase.
Lenders increasing concern over the eurozone crisis has impacted mortgage pricing levels which is making it harder than ever for first time buyers to source a competitive offer.
In response to this the Clydesdale and Yorkshire banks have reaffirmed their commitment to supporting first time property buyers. They remain among just a handful of UK lenders who are still willing to lend at 95% loan to value. In 2012 Clydesdale and Yorkshire banks reported that around 13% of all their mortgages approved were to first timers.
Rates for 95% LTV mortgage deals from Clydesdale and Yorkshire have been cut to 5.99% for a 3 year fix with no product fees, and for those with an additional 5% deposit a rate of 4.99% is available.
First time buyers looking for a mortgage are recommended to contact Deal Direct today.
We will search the entire UK market to source the right mortgage deal for you.
