Metro Bank has re-entered the 10% deposit market with a selection of five-year fixed-rates and the mortgages are also available on a joint borrower sole proprietor basis.
Metro Bank is one of the more generous lenders allowing up to four applicants on the mortgage and the maximum term is up to age 80 and this is based on the oldest applicant. It also accepts gifted deposits from an immediate family relative are permitted.
Aaron Strutt, product director at Trinity Financial, says: "Many first time buyers find it difficult to secure a sufficient mortgage on their income and they need help to get on the property ladder. Most lenders have stopped offering the traditional guarantor mortgages and focus on providing joint borrower sole proprietor mortgages. With Metro up to three borrowers can be on the mortgage and one on the title deeds."
The maximum property value for those with less than a 20% deposit is £600,000 and applicants on/or have been recently furloughed will be excluded.
Call Trinity Financial on 020 7016 0790 to secure a mortgage or complete our online form