It may surprise some, but the Post Office now offers some of the cheapest mortgages out there. For those of you struggling to get on the ladder and facing tough financial challenges, this could be a road worth exploring, if you are going to achieve your dream of buying a home.
The Post Office is now offering a two year fixed rate mortgage at 2.23% for those with a 15% deposit. Better still this includes no fees and a free valuation.
In terms of actual property, this would mean a borrower buying a home worth £300,000 pays £1,305 a month. Second cheapest the Yorkshire Building Society offers a years fixed rate mortgage at 2.29% but is still £10 more expensive a month.
Furthermore, the Post Office continues to offer the cheapest fee-free Help to Buy mortgage at 3.68%. Again the closest cheap deal incurs fee’s of over a grand, so it really does pay to get a lender that doesn’t charge large fees.
This is all great news for first time buyers, who having scrimped and saved to get the money together to buy a home and will not be in a position to cover the costs of yet more overheads.
The Post Office also announced a three-year fixed rate deal of 2.67%, available to those with 10% deposits. This is a market leading rate. Although this does leave the buyers with the responsibility of paying off a £1,400 mortgage which is decidedly higher than normal, it is still a great deal.
Finally, a five-year fix rate mortgage at 2.73% can be yours if you have a 15% deposit, this is the best rate out there although there is a high fee for this one.
Waltham Estates, is a family run Estate Agents based in the heart of Walthamstow. We can sell or let your home in Leyton and Walthamstow, we offer guaranteed rent schemes, so you never have to worry about missing your mortgage payments, should you choose to rent your property.When it comes to Property management in walthamstow, we offer an all inclusive service. Find out more