90% First Time Buyer Mortgages on the up
First Time Buyers – 90% Mortgages on the rise
First Time Buyers with a 10% deposit will have more fixed rate mortgage products to choose from as 2020 draws to a close with more big-name lenders enter the fray.
Most products are fixed for five years, but there are more two year fixed rate offers starting to appear, which is great news for First Time Buyers as availability has been severely impacted since the start of the pandemic.
The lack of choice has caused the lenders in this space to suffer with their service standards as they shoulder the burden of supporting an important part of the market, so the increase competition will hopefully help share the load and help to speed up the lending process as we enter the New Year.