Figures point to first-time buyers for the best moves

3rd September 2021

Data from across the industry is pointing to first-time buyers being in the driving seat when it comes to securing the best mortgage deals right now.

When the government’s 95% mortgage guarantee scheme was launched in April, a raft of low-deposit mortgage was released onto the market. According to Which, there are now some ‘189 fixed-rate 95% deals now available, compared to just five at the start of March’.

This boost for first-time buyers, whose first home might have otherwise been out of reach, comes at a time when the demise of the stamp duty holiday and a shortage of housing stock has made moving an impossibility for those already on the ladder. Indeed, the benefit for first-time buyers who no longer need to raise even a 10% deposit, let alone a stamp duty payment, has been compounded by a steady fall in interest rates that’s made this a great time to venture onto the property market.

Charters Financial Services is the leading south coast mortgage and financial services provider. Its Mortgage Hub team, headquartered in Chandlers Ford, Hampshire has hailed the low-deposit mortgage surge the best opportunity for new buyers for years.

‘Just a few months ago, a 95% mortgage would have been unheard of,’ reveals Alain Amos, Managing Director of Charters Financial Services. ‘Not only do we now have many products offering just that, but we’re now seeing interest rates under 1% too. First-time buyers are now able to look forward to their first foray into their home with the confidence that a low-deposit, fixed-rate mortgage is affordable and makes sound financial sense.’

Here are three illustrations of Charters’ most favourable mortgage rates for first-time buyers today:

  1. A £200,000 property with a 90% mortgage over 30 years on a 1.99% deal would cost £664.42 per month.*
  2. A £300,000 property with a 95% mortgage over 30 years on a 2.95% deal would cost £1193.90 per month.*
  3. A £400,000 property using Help to Buy with a 25% deposit over 30 years on a 1.14% deal would cost £1082.77 per month.*

If you’d like to know how the figures add up for your first move, visit or call 03454 500 200.

*All are subject to a fee of £999, which can be added to a mortgage, but is not included in the above illustrations.

Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

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