First time buyers / homemovers Mortgage Deals

First Time Buyer Deal

5% deposit

Purchase price -£125,000
Loan amount -£118,750
Deposit -£6250
Term -35 years
Product – a fixed rate of 3.64% for 2 years
Arrangement fee – £999
Cashback – £500 on completion
Monthly payment £504.67 per month

Fixed to 30th November 2019 when the rate reverts to the standard variable rate which is currently 3.74%. The overall cost for comparison is 3.9% APRC. 24 payments of £504.67 based on a fixed rate of 3.64%. 396 payments of £511.40 based on rate of 3.74%. The total amount payable is £214,711

 

10% deposit

Purchase price -£200,000
Loan amount -£180,000
Deposit -£20,000
Term -30 years
Product – a fixed rate of 1.97% for 2 years
Arrangement fee – £995
Free valuation
Monthly payment £662.23 per month

Fixed to 30th November 2019 when the rate reverts to the standard variable rate which is currently 3.89%. The overall cost for comparison is 3.7% APRC. 24 payments of £662.23 based on a fixed rate of 1.97%. 336  payments of £835.57 based on rate of 3.89%. The total amount payable is £297,755