Bristol & West Mortgages has launched a number of new products as part of a campaign to help first time buyers onto the property ladder.
The new range features four products to serve first time buyers in a variety of circumstances to help affordability.
Firstly, a discounted rate mortgage, which can lend up to 4.5x single income, is one of the offerings. The rate is 2.1% below the standard variable rate for two years, with a £699 arrangement fee and no higher lending charge.
Another deal offers a low starting rate of 4.99% for one year, followed by a 4 year fixed rate of 5.99%. The product features a £999 arrangement fee, no higher lending charge and an early repayment penalty of 5%.
A third product, called Fee Saver, has no fees or higher lending charge with a 3 year fixed rate of 6.19%.
The final product in the range offers a 2% cashback option, giving buyers cash to pay for home improvements or furniture. The product features a £599 arrangement fee with a three-year fixed rate of 6.84%.
Commenting on the launch, Allison Pallett, managing director of consumer lending at Bank of Ireland, says: “Our new campaign is specially designed to help our customers get onto the property ladder. Whether they need extra cash up front, the benefit of assistance with fees, a low up front rate, or great income multiples, we are here to help.”
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