Halifax lures first time buyers to low house prices

05-Jan-2012

The January sale at Halifax has offered further encouragement for first time buyers looking to take advantage of low house prices.

A new fee-free mortgage will be exempt from product or mortgage account fees for two years, offering a fixed rate of 5.99 per cent on the loan.

It is also available for loan-to-value ratios of between 85 and 90 per cent, meaning buyers will not have to find huge deposits to take up the offer. Deposits were found to be the biggest deterrent of buyers looking to get onto the property ladder for the first time, and this news will come as a relief to those struggling to come up with the money.

The fees typically cost around £995, according to Halifax mortgages director Stephen Noakes, who commented that: "Buying a house has always been an expensive process and for first-time buyers every bit of help counts."

A recent study by the mortgage lender revealed that affordability of homes for first time buyers is at its highest level for eight years, which could prompt people to take the all important first step onto the housing ladder.

Published by Joshua Scott

There is a vast array of mortgages for first time buyers so seek good advice

2012: May | Apr | Mar | Feb | Jan

2011: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2010: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2009: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2008: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar