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Great deal for first time buyers with 25% deposit
confused31_2
Posts: 1,272 Forumite
Ive just looked on the nationwide website and they have a 3 year tracker for first time buyers with a 25% deposit currently at 4.18%, and only a £299 pound fee, which i think is a great rate for a first time buyer.
The other good thing is nationwide have the switch and fix on their tracker rates, so has soon has you think the rates are going to go up you can jump onto a fixed deal.
There is a fee to swap from the tracker to a fixed but its only the product fee, which is usualy not that much.
hope this helps someone
The other good thing is nationwide have the switch and fix on their tracker rates, so has soon has you think the rates are going to go up you can jump onto a fixed deal.
There is a fee to swap from the tracker to a fixed but its only the product fee, which is usualy not that much.
hope this helps someone
I am not a Mortgage Adviser
You should note that this site doesn't check my status as not being a Mortgage Adviser, so you need to take my word for it. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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It certainly looks a good offer if you have the 25% deposit required................................I have put my clock back....... Kcolc ym0
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It gets even better if you have a 40% deposit it goes down to 3.98%, this has got to have something to do with the government, telling the banks to give ftb's some good deals.I am not a Mortgage AdviserYou should note that this site doesn't check my status as not being a Mortgage Adviser, so you need to take my word for it. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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It goes down to 3.68% on 1st March:beer:confused31 wrote: »Ive just looked on the nationwide website and they have a 3 year tracker for first time buyers with a 25% deposit currently at 4.18%, and only a £299 pound fee, which i think is a great rate for a first time buyer.
The other good thing is nationwide have the switch and fix on their tracker rates, so has soon has you think the rates are going to go up you can jump onto a fixed deal.
There is a fee to swap from the tracker to a fixed but its only the product fee, which is usualy not that much.
hope this helps someoneI am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
This isn't a great deal for a tracker. Considering on the down side the maximum fall is to 0%.0
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A 25% deposit is quite significant - even on a property costing only £80,000, it's £20,000."You were only supposed to blow the bl**dy doors off!!"0
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I agree completely - and to get an even better rate you need 40% - way out of reach for most FTBmaninthestreet wrote: »A 25% deposit is quite significant - even on a property costing only £80,000, it's £20,000.Keep the Faith:cool:0
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