11 Feb

January sees surge of first-time buyers

January sees surge of first-time buyers

Demand from first-time buyers for houses for sale in the UK have led to new mortgage deals.

HSBC has introduced a new range featuring 85 per cent loan-to-value (LTV) with interest rates starting at 3.49 per cent for a two-year mortgage.

The bank's January sale saw a boost in mortgage activity from people securing property for sale in 2011.

Sales more than doubled during the first five weeks of the year, compared to the same period in 2010.

Stuart Beattie, head of mortgages at HSBC, said: "Following strong demand from first-time buyers in January, we have broadened our range of offers to help customers with smaller deposits to step on to the housing ladder for the first time."

First-time buyers looking for houses for sale in the near future may also benefit from new home loan offers from Santander.

A new two-year deal aimed at first-time buyers has been launched, with 90 per cent LTV and a rate of 5.45 per cent.

In addition, the mortgage comes with the bank's Homebuyer Solution, which provides a free basic mortgage valuation and £250 cash-back on completion.ADNFCR-1222-ID-800400032-ADNFCR

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