Mortgage lenders are increasing their selections of products designed to help first time buyers, and they’re not only available through the Help to Buy scheme. The Cambridge is relaunching its product range, and includes a new deal at 95% Loan to Value (LTV), which means buyers with smaller deposits (5% of the value of the property) are able to get a mortgage.
The deal is a two-year, fixed rate mortgage, which also comes with a free valuation. The Cambridge is keeping the application fee low, too. We have access to this product through the Cambridge Select group.
The Cambridge’s Commercial Director, Andy Lucas, says:
“We have a commitment to supporting first time buyers and this product, which is available both direct and through intermediaries, demonstrates this.
“There’s an increasing demand for low deposit mortgages and lenders like The Cambridge have been offering these products for a long time!”
SBG’s Robert McCoy (Senior Product and Communications Manager) sums it up nicely:
The Cambridge have been a supporting this area of the market for a while and we a pleased to partner with them on this deal. This 95% LTV mortgage will be welcomed by our members and their customers.”
Here at Limetree, we can help you find the right mortgage, and we’re excited about an increasing range of products for first-time buyers. So, drop us a line, and we’ll talk through all your options.