First-time buyer mortgages launched by lender

26-May-2010

Published by Helen Adams

First-time buyer mortgages are now available from Yorkshire Building Society, featuring a number of aspects that are sure to appeal to those making their opening home purchase.

The lender is offering deals with no upfront fees, £500 cash back and a free standard valuation as part of its package.

Perhaps the best news for first-time buyers struggling to raise a hefty deposit for their chosen property is that the society's mortgage allows people to borrow up to 85 per cent of the total value.

Fixed rates are applied - reducing vulnerability to future interest rate rises - starting at 5.19 per cent on a two-year deal and maxing at 5.79 per cent on a five-year contract.

"With so many other things to buy to furnish that first home, we know that first-time buyers need a little help when it comes to fees," explains Yorkshire Building Society's product manager for mortgages Tom Girling.

News of the first-time buyer mortgages comes soon after the Co-operative Bank and Britannia also launched new products.

How to buy a house from finding your first property, first time buyer mortgages, mortgage advice, shared equity, shared ownership, joint ownership, part buy part rent and HomeBuy. All a first time buyer could need as well as first time buyer news at FirstRungNow.com.

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