9 Sep

First-time buyers given new deal to purchase properties

First-time buyers given new deal to purchase properties

First-time buyers have been given support to get on the property ladder and purchase their first house for sale in the UK.

HSBC has launched new offers on 90 per cent loan-to-value mortgages to enable homebuyers who do not have a big deposit to buy a property.

Available from Monday (September 13th 2010), the tracker loan comes at a rate of 3.69 per cent above the Bank of England's base rate.

There is also an offer on a two-year fixed-rate deal at a rate of 5.09 per cent.

Head of mortgages at the financial services company Martijn van der Heijden said: "HSBC is keen to be there for new and existing customers, whether it's for people looking to take their first step on the housing ladder or for people looking to improve on their current deal."

He added that the deals can "reduce the cost of borrowing".

Lots of people could be looking to take out one of the offers as mortgage adviser John Charcol recently revealed that there was a rise in the number of first-time buyers applying for loans in July 2010. ADNFCR-1222-ID-800059127-ADNFCR

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