skip to main content

Request a call back

Leave your contact details and one of our expert advisers will call you back shortly.

You can also complete our mortgage questionnaire for a more accurate initial response.

Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.

Menu
Archives

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

show more show less

The mortgage price war is helping first-time buyers to access more competitively priced low deposit rates.

Figures published in The Sunday Times highlight the lowest two-year fixed rate available to borrowers with a 10% deposit is 0.3% higher than the best-fixed rate with a 40% deposit. This is down from 0.55% in December 2017. With five-year fixes, the difference is 0.45% - down from 0.74% a year ago.

Aaron Strutt, product director at Trinity Financial, says: “Borrowers with smaller deposits typically pay higher interest rates than other buyers, but the gap is reducing. There are lots of options as more lenders target first-time buyers.”

HSBC for Intermediaries is offering one of the most competitively priced mortgages if you have a 10% deposit. The 1.79% rate is fixed until 30 April 2021. At the end of this period, it reverts to the lender's variable rate currently of 4.19%. The overall cost for comparison is 3.83% APRC representative.

The mortgage has a £999 arrangement fee, and the maximum loan size is £400,000. Early repayment charges apply for the fixed period. 

Representative example: A capital and interest mortgage of £337,500 payable over 25 years, initially on a 1.79% fixed rate until 30/04/2021 and then on a variable rate of 4.19% for the remaining 23 years, would require 26 monthly repayments of £1,396.26 followed by 274 monthly repayments of £1,781.28.

The total amount repayable would be £374,156,60 made up of the loan amount, plus interest (£186,873.48) and £999 (product fee), £295 (final repayment charge), £30 (completion fee). The overall cost for comparison is 3.83% APRC representative.

The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.

Call Trinity Financial on 020 7016 0790 to secure a first-time buyer mortgage

Get in Touch

Get in touch

To arrange a meeting with one of our expert mortgage advisers complete our enquiry form and we will call you back. Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.

Need some advice today?

Book a Consultation Mortgage Questionnaire