First-time Buyers
Building societies lower rates
A raft of smaller lenders have reduced the interest rates charged on some of their fixed mortgage deals.
Skipton Building Society has launched a two-year fixed rate at 3.99%, available up to 90% loan-to-value (LTV).
The deal carries no arrangement fee and comes with a £160 cashback. While not exclusively badged as a first-time buyer product, this deal is highly likely to appeal to those looking to get onto the property ladder for the first time.
Norwich and Peterborough is offering a two-year fixed rate at 1.89%, but it is only available up to a maximum of 65% LTV, so borrowers need at least a 35% deposit/equity. The deal comes with an arrangement fee of £995.
Teachers Building Society has launched a two-year discount of 3% off its standard variable rate (SVR) of 4.99%. The deal is currently charged at 1.99%, is available up to a maximum of 60% LTV and comes with a fee of £1,898.
