Bank launches 99% mortgage for first time buyers

A new £5,000 deposit mortgage has been launched today, enabling aspiring homeowners to potentially borrow up to 99 % of the property value

Bank Launches £5,000 deposit mortgage

Today (27 March 2024) has seen a revolutionary new mortgage for first time buyers, allowing them to borrow potentially 99% of the property value. The new mortgage is available directly and via brokers through Accord Mortgages.

There are some key criteria that you must meet for this scheme, outlined below.

The deal is available for first time buyers and the maximum age at the end of the mortgage term is 70.
Buyers will need to agree to a five year fixed rate at 5.99% - higher than most rates on the market. It does however have no product fee.
The mortgage won't be available for purchasing flats or new build properties
The maximum house value eligible for the scheme is £500,000

Are you a first time buyer interested in finding out more about this scheme? If so, click here and we can arrange a call from one of our friendly mortgage brokers.

Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. Please speak with a mortgage advisor for full information on eligibility.

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