First time buyer mortgage rates at record low

Banks are offering the lowest mortgage rates for first time buyers since records began in 1995 The Independent writes.

‘Interest rates on two and five-year deals have fallen to a 23-year low, according to the latest Bank of England figures.

People looking to buy a property with a 5pc deposit and take out a loan for the remaining 95pc could get a two-year mortgage with an interest rate of 3.33pc, down from 4.02pc a year ago.

For five-year mortgages, the average rate was 3.89pc at the end of October. It was 4.71pc in the same month the previous year.’

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Looking for a new home? We have several new homes available for first time buyers including the two bedroom cottage The Worth at The Green in Glusburn, or the Emerson at the Bridge in Haworth or one of our final two homes in Shipley, the three bedroom Ashton.

All our homes are available with Help to Buy. Unlock a 95% mortgage with only a 5% deposit. Find out more.

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