Britannia launches new 'share-to-buy' mortgage

11-Oct-2006

Britannia Building Society has teamed up with Graduate Network to offer first time buyers a new way to purchase their home.

Graduate Network and Britannia have teamed up to offer groupings of up to four first time buyers the opportunity to purchase a property, using income multiples of up to three times their individual salaries.

The new mortgage features a loan-to-value of up to 90 per cent, with no early repayment charges, administration or arrangement fees and the peace of mind of a secure legal agreement.

"Not only are we offering a salary multiple that can significantly boost the affordability of first time buyers, but our free legal agreement provides a sound basis upon which friends can buy property together," said Stephen Dwelley, managing director of Graduate Network.

Graduate Network is a mortgage intermediary, specialising in helping graduate first time buyers purchase their first property.

In addition to the share-to-buy scheme, Britannia offers a range of mortgages, including fixed and variable-rate mortgages.

For advice on first time buyer mortgages, or to find out how much you can borrow and how much it would cost you, contact a good mortgage broker.

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