Hanley Economic offers a 5% deposit mortgage

Hanley Economic Building Society is offering one of the only 5% deposit two-year fixed rates mortgages in the market. Their 5.89% rate is available through Trinity Financial and it has a £200 arrangement fee. There are very few banks and building societies offering strait forward 5% deposit mortgages as they typically require a family guarantee or a second charge on another property. Woolwich still has their Family Springboard mortgage. The 5% deposit rate is fixed for three-years at 4.69% and it has a £499 arrangement fee. Prior to completion a 10% deposit must be placed in a Barclays Helpful Start Account for a minimum of three years to act as a guarantee against negative equity. May 17, 2013