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Financial Times - First Time Buyer 5 Percent Deposit Upto 500k   Green Tick

  (27/03/2024) Accord Mortgages, Financial Times

A 99 per cent mortgage product for first time buyers has been launched by Yorkshire Building Society and Accord mortgages. The building society said its fee-free deal will enable first-time buyers across England, Scotland or Wales with a £5,000 deposit to purchase a property valued at up to £500,000. Under the deal, which is available to first-time buyers only, borrowers could take out a five-year fixed-rate mortgage at 5.99 per cent. Yorkshire Building Society director of mortgages, Ben Merritt, said research by the society found £5,000 is the amount that could shorten the time needed for first-time buyers to get mortgage-ready. He added that it could help to encourage a “level playing field for those who don’t have financial support from their families to fall back on”. We take the finance industries reactions: https://www.ftadviser.com/mortgages/2024/03/27/first-time-buyers-99-mortgage-with-5k-deposit-launched/?xnpe_tifc=4DENbIYpbIQuOfHj4uP_b9psafeWaeiWhFWAhoB9bMP8b9UDRG8.adJSbfh_4Io74knDOfoXxdbl4nTT&utm_source=exponea&utm_campaign=FTA%20-%20Lunchtime%20Bulletin%20-%20Newsletter%20-%2027.03.24&utm_medium=email

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