First Time Buyers Mortgages
We are seeing a real a boom in First Time Buyers Mortgages. 2015, already, looks like a great opportunity for Contractors to buy their own homes.
Now, our mortgage partners, have announced a new low start mortgage that’s only available here for contractors.
Boris Johnson has just announced two new deals which will help First Time Buyers Mortgages and allow Londoners to get on the housing ladder for the first time.
Those who don’t live in London, therefore, don’t qualify for these offers. However, our partners are working on getting similar deals for contractors in other places in the UK.
Indeed, they have great news of another new first time buyers mortgages deal that is available to all contractors in the UK. This comes from a first time buyers mortgages deal they have with a mortgage lender.
Contractor First-Time Buyers Mortgages Deal
Mainly due to the Government’s Help to Buy scheme, the number of first time buyers is up by 50% in just 2 years. the Halifax Building Society say this sector is at a 7 year high. It predicts that 2015 will be even better.
In response to this our mortgage partners have found a contractor-friendly building society who are happy to provide low-deposit first time buyers mortgages.
This great offer is only available to contractors through our mortgage partners. It gives contractors a 5% deposit mortgage with it being interest-only for the first 3 years. That’s a pretty good deal in this market. It goes back to being a repayment mortgage after that.
Low Start Mortgage Deals
The low start mortgage offers:
– A 3 year variable rate at 4.45% based on a 95% Loan to Value (LTV)
– Or a 3 year variable rate at 3.75% based on a 90% LTV
– Interest only for the first 3 years, reverting to repayments thereafter
– Based on our specially negotiated income measure of annualised contract rate, donâ€™t need to prove your income with 3 years accounts
– £500 arrangement fee that can be added to the mortgage
Free valuation on your chosen property
– No penalty for overpayments, as long as you donâ€™t repay the full mortgage amount within the first 3 years
First Time Buyers Mortgages Partner
Our mortgage partners don’t charge a fee for arranging your mortgage. Other specialist contractor mortgage brokers charge up to £695 as an arrangement fee. So, you get their advice free.
To find out more, or to apply, fill in the mortgage form on this page:-