Today sees the dawn of a new mortgage scheme, by Accord mortgages that has been designed specifically to help first time buyers. You may be able to take that first step onto the property ladder with a £5,000 deposit. This scheme is exclusively available to first time buyers.
The scheme will allow mortgage loans up to 99% loan to value. Who is it for?
- Applicants where at least one applicant must be a first-time buyer (defined as never having owned a property in the past) and no background properties on the application.
- Applicants with a minimum £5K deposit
- Applicants who have the higher credit score that is required for lending above 95% loan to value.
Other requirements are as follows:-
- 5 Year Fixed Rate product
- Maximum age of 70 at the end of the mortgage term
- Available to applicants where the loan to value is between 95.01% 99%.
- It is available for house purchases above £100,000 and up to £500,000.
- The Minimum loan must be above £95,000.
- Maximum loan £495,000.
- Maximum Loan to Income 4.49
- The scheme is only available for mortgage schemes that are arranged on a Capital & Interest basis.
- Available for new house purchase business only
- Acceptance will be subject to affordability, criteria and credit score.
The scheme is not available for:-
- Purchases of flats, new build properties and properties in Northern Ireland
- Applicants who do not have permanent right to reside in the UK.
- Applicants who are looking for a Joint Borrower Sole Proprietor mortgage scheme.
For more information, please feel free to contact Commodore Finance Ltd on 01745 850653
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Commodore Finance Ltd (FCA No. 461175) is an appointed representative of Julian Harris Financial Consultants (FCA No. 153566) which is authorised and regulated by the Financial Conduct Authority.