2
Jul
First-time buyers 'can buy house with ten per cent deposit'
First-time buyers now have the option to buy properties with
deposits as small as ten per cent of the value of the home with
Yorkshire Building Society's latest offers.
The mortgage provider has announced that it wants to encourage
people to get on the property ladder with its two-year 5.99 per
cent fixed-rate loan on mortgages that require only ten per cent
deposits.
Mortgage product manager Tom Girling said: "We've tried to balance
the need to help first-time buyers with the need to lend
responsibly and designed the new range to provide different ways to
help those who are just starting out."
Other advantages of taking out a mortgage with Yorkshire Building
Society for first-time buyers include receiving £500 cashback,
getting free legal advice and being given a free valuation
report.
Mr Girling added that waiving the product fee in addition to being
able to purchase properties with smaller deposits is likely to save
buyers around £2,500.
Recent findings from Moneyfacts.co.uk revealed that throughout the
industry, mortgage rates have dropped to a seven-year low, making
it a good time for first-time buyers to invest in property.
