Improved mortgage deal aimed at first time buyers

06-Oct-2005

Aspiring homeowners searching for the right mortgage deal will welcome the improvements made to Coventry building society's "MOREgage" product.

For advice on first time buyer mortgages or to find out how much you can borrow and how much it will cost you, from the UK’s leading High Street Brokers, Bradford and Bingley, click here

Designed to help first time buyers find a more affordable property, the deal uses a combined mortgage and unsecured personal loan to finance the move, as well as providing for any additional costs.

To prevent buyers from being priced out of the property market, the deal offers up to 95 per cent loan to value, plus the option of an extended personal loan facility.

Click here for further information on finding a deposit

A competitive 5.50 per cent fixed rate is available only for first time buyers, guaranteed to remain at this level until March 2009, with a free valuation added to tempt buyers.

Potential property owners who take out the MOREgage offer will benefit from the option to pay back five per cent per year with no penalty and no higher lending charge.

A number of providers are currently focusing on enabling more aspiring homeowners to get on the property ladder and are offering first time buyer mortgages and creative mortgages, as well as mortgage advice.

To find out more about creative mortgages designed specifically for first time buyers click here

To find out what you can borrow, even if you are in an adverse credit situation click here

If you want to post your comments on today's news in the FirstRung Forum click here

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