New mortgage deals for first time buyers

19-Oct-2005

The Co-operative Bank believes that more aspiring homeowners should be given a helping hand and has launched a new range of specialised products to achieve this.

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

Potential property buyers will benefit from the new mortgage deals and services available, with a variety of offers to suit every situation.

For those looking for a more affordable way of financing the purchase, the bank now provides three new products to ease the burden. A parental guarantor mortgage is available, as well as a graduate mortgage and a 100 per cent mortgage.

If you are interested in buying a new house within a 'gifted deposit' scheme whereby you don't need to come up with a deposit but just pay a nominal fee of £5000 click here

Developers of the campaign hope that the range of mortgage deals will encourage more first time buyers to get on the first rung of the property ladder and there are plans to continue improving and evolving the products.

"Buying a home for the first time is a frightening prospect for a lot of people and, as such, we appreciate the need to offer ongoing help and guidance throughout the process," commented David Newman, director of marketing management at The Co-operative Bank.

A telephone advice service will also be set up to deal with any enquires, while a "First Time Buyers Guide" will provide online guidance and a helpful glossary.

Click here for further information on finding a deposit

Click here to see what properties are on the market in your area – whether you buy alone or with others

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

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