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Trinity Financial has helped two first-time buyers to raise £425,000 to enable them to purchase their first home.

The recently married couple had lived in rented accommodation and decided it was a good time to get on the property ladder. They had a £75,000 deposit but required a mortgage to buy their new house in Kingston, Surrey.

Case details and solution

£425,000 mortgage to top up their 15% deposit.

Property: Three bedroom property built in 1910 valued at £500,000.

Mortgage rate: A two-year fixed rate at 3.39% taken over a 30 year term to make the monthly repayments more affordable.

Reversion rate: 4.24%

Lender''s arrangement fee: £999

Loan-to-value: Approximately 85% of the property value.

APR: The overall cost for comparison is 4%.

Repayment type: The mortgage was taken on a capital repayment basis.

Early repayment charges: 3% for two years.

Trinity can help: If you are a first-time buyer and you would like help to secure your first mortgage, contact us 020 7016 0790 or email him at enquiries@trinityfinancialgroup.co.uk

July 19, 2013
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