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First-Time Buyers Given Mortgage Boost
Date Added 13/05/2010
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Two of the big banks, the Co-operative and Britannia recently made a return to 90% lending, as we predicted more would follow and now the Post Office have just announced they will be stepping into the 90% loan-to-value (LTV) market offering a two-year fixed rate at 5.45% with a £999 fee.
This two-year fixed-rate deal trumps the deal launched by the Co-operative and Britannia by a good half percent, although this will probably not be seen as competition for the big two it will hopefully coax other lenders into the market. This will come as great news for those first time buyers looking to get their foot on the property ladder that are finding it difficult to accumulate a 15% or 30 % deposit.
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