Yorkshire undercuts the Help to Buy mortgage scheme
Yorkshire Building Society Group has re-entered the 5% deposit mortgage market as competition for first-time buyer business increases.
Many of the Yorkshire's 36 new 5% deposit mortgage rates are more competitively priced than the government's Help to Buy scheme, currently available through NatWest, RBS and Halifax.
Accord Mortgages, the broker lending arm of the Yorkshire Building Society, is offering a 5% deposit fixed rate at 4.69%. It has an £845 arrangement fee and the maximum loan is £500,000. The APR is 5.9%.
To qualify for Accord's low deposit mortgage, borrowers will need a stable income, a residential credit history and they must have consistently been on the electoral role.
Trinity Financial told the BBC that more lenders are coming back into the low deposit mortgage market and that competition has returned.
Click here to view the full story: http://www.bbc.co.uk/news/business-25003049
November 21, 2013
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