Lenders compete for first-time buyers

Completion is intensifying among lenders to offer the best mortgage deals to first-time buyers, as the housing market sees strong demand. Mortgage rates have dropped below 4% for the first time since November, following the Bank of England’s interest rate cut to 4.5%. Meanwhile, mortgage rates remain lower than in recent years, with the availability of 95% LTV mortgages fast increasing. Rachel Springall, finance expert at Moneyfactscompare.co.uk, said: "Borrowers with a limited deposit may find it encouraging to see a growth in choice for mortgages available at 95% loan-to-value, now at its highest count in almost five years." 

The Independent (22/02/2025)   The Mirror (22/02/2025)