The table below shows the latest best rates for UK First Time Buyers
Mortgages.
(Key* to terms is below) Read more about First Time Buyers Mortgages
| Mortgage Lender Explain | Rate Explain | APR Cost | Mortgage Type | Period Explain | Max LTV Explain | Fee Explain | Redemp- tion Explain | More Info |
|---|---|---|---|---|---|---|---|---|
| Stafford Railway BS | 2.65% reverting to 2.95% | 3.0% | Discounted variable | 2 years | 90% | £100 | 1st 2 yrs | an I Really Get This Rate? |
| Buckinghamshire BS | 2.74% reverting to 4.74% | 4.5% | Discounted variable | 2 years | 100% | – | 1st 2 yrs | Can I Really Get This Rate? |
| Penrith BS | 2.75% reverting to 4.75% | 4.5% | Discounted variable | 2 years | 90% | £699 | 1st 2 yrs | Can I Really Get This Rate? |
| Penrith BS | 2.95% reverting to 4.75% | 4.5% | Discounted variable | 2 years | 90% | £199 | 1st 2 yrs | Can I Really Get This Rate? |
| Buckinghamshire BS | 2.99% reverting to 4.74% | 4.4% | Discounted variable | 3 years | 100% | £850 | 1st 3 yrs | Can I Really Get This Rate? |
See all the Best Buy Tables
Date updated:
Timestamp 2020-10-31 (YYYY-MM-DD)
Mortgage Lender
This shows the company who is offering the mortgage loan. It could be any financial institution that offers and/or arranges mortgages. They could be an insurance company, a building society, a bank, a friendly society, unit trust managers and even supermarkets.
Rate
This shows the interest rate which will be applied to the mortgage loan.
The APR
The APR (Annual Percentage Rate) is a way of leveling the playing field by providing a true comparison between different loans. It includes the cost of any “hidden” charges. The resulting calculation shows you exactly what the loan will cost you every year over the length of the term. (Read more about the APR here)
Period
This is the length of time the interest rate applies.
Max LTV / Loan to Value.
This is the percentage which shows the size of your mortgage vs the property’s value. For example, if your mortgage is £80,000 and the property’s value is £100,000 the loan to value is 80%.
Rate Reverts To
This the variable interest rate this mortgage reverts to after the period period
Fee
The arrangement fee. This is what the lender charges for setting up the mortgage and is is usually payable on completion of the mortgage. It usually costs between £100 to £300 – or can be “free“.
Be careful here: This fee may be payable, even if your application doesn’t succeed. And there may be other charges for example an additional Application or Administration etc Fee.
So check this beforehand.
Redemption
When you take out a mortgage you have an agreement with the lender. This covers the amount you repay and is set for a particular period. The figure in the table shows the particular period. For example you may have a mortgage for a three year fixed interest rate of 5%. If you want to get out of this deal before the three years is up you’d probably have to pay a redemption penalty. This is a charge which supposedly compensates the mortgage lender for the time and expense of your leaving.
| Please note that while care has been taken to make sure the information displayed is correct, you must always confirm it yourself. Moneysorter Ltd cannot accept any liability. |
