Fantastic £5k Deposit Mortgage for First -time Buyers Launched!

Caz Blake-Symes • April 22, 2024

Image courtesy of Freepix

We are very excited to announce an excellent product for First Time Buyers. This particular lender only deals with Brokers/Intermediaries like ourselves. Therefore, we will be delighted to see if this product is suitable for your specific needs.


Here are some of the key facts to help you…

  • Minimum Deposit £5k,
  • Maximum LTV 99%
  • 5-year fixed product
  • Minimum loan £95,000
  • Minimum purchase price £100,001
  • Maximum purchase price £500,000
  • Maximum loan period of 40 years
  • Applicants must be no more than 70 years old at the end of the mortgage term.
  • Up to 4.49 times salary for borrowing potential
  • Capital and interest payable
  • 10% annual over payment allowed.
  • Portable providing the LTV is under 95%
  • Both applicants must be UK Citizens residing in the UK.
  • Gifted deposits from an immediate family member accepted.


Restrictions

  • No offset option
  • Houses only no flats
  • No new build properties
  • No Joint Borrower Sole Proprietor option
  • For joint application At least one applicant must be a first time buyer (defined as never having owned a property in the past) and no background properties on the application
  • Both applicants must have indefinite right to reside in the UK.
  • Properties in Northern Ireland are not eligible.
  • An enhanced credit score must be achieved for applicant(s) to be eligible for the product.


What should I do next?

This is a very attractive product and we can help you with any queries and will take you through the eligibility criteria.

If this product is not suitable for you, as fully independent brokers, we can offer you a whole array of alternative options.

Any of our Advisers at Bristol, Weston, Bath and Exeter Mortgages Online would welcome the opportunity of discussing your mortgage requirements and to arrange to quote you on all the various options available to meet your specific needs.


Contact Us

For further details about the mortgage and protection products we offer as a fully independent mortgage broker, or any other mortgage information, book your FREE CONSULTATION with one of our expert Mortgage and Protection Advisers.

Bristol Mortgages Online           www.bristolmortgagesonline.com           Tel 0117 325 1511

Bath Mortgages Online                 www.bathmortgagesonline.com             Tel 01225 584 888

Weston Mortgages Online            www.westonmortgagesonline.com        Tel 01934 442 023

Exeter Mortgages Online             www.exetermortgagesonline.com         Tel 01392 690 888


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