Britannia ShareToBuy Mortgage

tr5ad

Hi All,

I have been shopping around to see what the best mortgage I could get with my partner (both graduates) on a 10% deposit (90% LTV).

I came across the Britannia Share To Buy mortgage scheme which is exclusively for graduates doing a joint application, which seems to be the best offer available on the market.

I was wondering if anyone has taken out this mortgage and what your thoughts are?

Mortgage Details Below

Britannia exclusive: 90% mortgages from 3.79%
All options have no up front mortgage fees!
Share to buy is an affinity partner of Britannia and we offer exclusive 90% fee-free mortgages only available through sharetobuy.com with rates starting from 3.79%. These are completely 'normal' mortgages for standard open market purchase, not government schemes, but they are restricted to joint applications by graduates and professionals. There are currently two products:

• 3.79% lifetime discount for a 10% deposit with no up front fees AT ALL. That means there is no arrangement fee, no administration fee and no standard valuation fee. Most importantly, you are never tied in because there are no early repayment charges, meaning that you could remortgage to another Britannia product or another lender at any time without penalty, and there is no limit to overpayments. Get an illustration.

• The 3.79% lifetime discount product is a variable rate which is 0.95% below Britannia's standard variable rate (SVR), currently 4.74%, for the lifetime of the mortgage, giving a current rate payable of 3.79%. The overall cost for comparison is 3.9% APR.

Important criteria summary

• Minimum of two applicants, BOTH of whom must be graduates OR have professional qualifications (e.g. accountancy, law). Armed forces commissioned officers accepted.

• Available for open market PURCHASE ONLY and both first time buyers and home movers are acceptable. The product is not available for remortgages, second home purchase, buy to let or shared ownership with housing associations.

Applicants can be a couple (married or otherwise), friends or family members but ALL applicants, up to a maximum of four, must reside in the property.

• Other mortgages and properties: if you have any buy to let or other residential mortgages that will remain outstanding, or any other properties that you own which will not be sold, you must put down a 25% deposit rather than the usual 10%-15%.

• Income multiples: for two applicants 3.75x joint or 4.25 + 1. For groups, 2x all of 3 or 4 incomes or 3.75x the two highest earners.

• Capital repayment method only. Interest only not accepted.

• Strictly no adverse credit.

• Free valuation: this is only on the first property for which you apply, and not subsequent properties should the first fall through; and Britannia reserve the right to charge you for the first valuation if you withdraw from the purchase after the valuation has happened.

Thanks,

Richard

av76

Hello,

I have also found this mortgage and it appears too good to be true ?

Any Hidden things ?

Please someone can advise ?