The Times - Banks help out first-time buyers with low-deposit mortgages
HSBC is bringing back 10 per cent deposit mortgages next week after pulling out of the market because of overwhelming demand.
On Tuesday, HSBC will start offering two and five-year fixed-rates for purchases and remortgages with up to 35-year terms. The rates will be unveiled on the day.
Aaron Strutt from Trinity Financial told The Times: “Many first-time buyers have been desperate for low-deposit deals to return,” said Aaron Strutt from the mortgage broker Trinity Financial.
“There’s a large premium to pay to access these 10 per cent deposit rates, but as more lenders come back into the market pricing will improve.”
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