Compare Mortgage Rates For First Time Buyers in the UK
First time home buyers in the UK should compare mortgage rates with Nationwide's new 95% loan to value (LTV) mortgages, which are designed to make it easier for first time buyers to purchase a home in an environment where prices are still falling. Some critics suspect that the return of 95% LTV mortgages in a falling price environment could prove to be a "honeytrap" for first time buyers, tempting them to pay more today than these properties will fetch next year.
However, the property market in the UK has proved remarkably resilient, even during the financial crisis, and has delivered substantial tax-free profits to most medium and long term investors. The new mortgage offer requires regular savings before application for the mortgage. It can be compared with similar offers by Yorkshire & Clydesdale, Cumberland and Nottingham building societies.