Current 95% First Time Buyer Mortgages
Neil12_2
Posts: 6 Forumite
What is the best 95% LTV mortgage at present (MAY2009) for a first time buyer ?
0
Comments
-
There aren't any?Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
dont know of any 95% mortgages now??? theyve all gone.
the best 85% i know is halifax 5.71% 5 yr fix, although there are a few 90% mortgages available with higher rates still.0 -
Is the one offered by Yorkshire Bank any good ?0
-
-
wasn't aware they did one neil, if they ar e doing it will be good as it is probably the only one.Happily an ex mortgage broker!0
-
I believe HSBC will do 95% for graduates.
Why anyone would want a 95% purchase in today's market is beyond me.0 -
The overwhelming majority of the 95% mortages shown on the link posted by poppy10 are for existing customers only, so would be of no use to a first-time buyer."You were only supposed to blow the bl**dy doors off!!"0
-
Well I've found out more about the Yorkshire Bank . They do still offer the 95% LTV mortgage for First Time Buyers @ 6.99% fixed over three years then switching to their std variabe rate. You can also make overpayments but they have to be regular. To me 6.99% is till low in comparison to 10yrs ago etc and in comparison to what it will be in a year and a half when inflation takes hold of the economy. I must add though that we're not taking a big gamble in buying a 3 bed semi for just over £100k.
I'm not sure about other first time buyers but it's the requirement for large deposits that I think is stalling the amount of FTB's n the market. If the banks and economy are now recovering as the FTSE seems to suggest, then the banks maybe should start offering such 95% deals again but pay more heed to their applicants particular circumstances...for security of employment etc.0 -
This discussion has been closed.
Categories
- All Categories
- 343K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.6K Spending & Discounts
- 235.1K Work, Benefits & Business
- 607.8K Mortgages, Homes & Bills
- 173K Life & Family
- 247.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards