First-time buyers offered 102% LTV without guarantor

The Marketplace has pitched its latest product at first-time buyers who are struggling to find a deposit by offering higher LTV on a two-year tracker set at base rate plus 0.45% for the first two years – at this time 4.45%. Most house price index economists have noted over recent months the number of first-time buyers able to afford to buy property has dropped substantially compared with five years. Council of Mortgage Lenders’ figures suggest first-time buyers accounted for 48% of total lending in 1998 compared with just 29% in 2003. Redemption charge is six months interest at bas...