Santander mortgage 'ideal for first-time buyers'
04-Mar-2010
Would-be
first-time buyers who can scrape together a 20 per cent deposit on a new home may be interested in a mortgage from Santander.
The Spanish commercial bank has announced that the interest rate on its 80 per cent mortgage deals will be lowered by 0.74 per cent.
Such a deal could be particularly attractive to
first-time buyers - provided they have the necessary deposit.
Phil Cliff, mortgage director for Santander, said: "Where borrowers can, saving a bit extra for their deposit is definitely worth it as they will benefit from a much lower rate on their mortgage."
Those without the deposit may wish to consider a
shared mortgage or
shared equity mortgage as ways of getting on the first rung of the property ladder.
Now could be the best time to attempt a first buy, with Nationwide recently revealing a one per cent fall in house prices during February.
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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