Spotlight: Halifax mortgage for first-time buyers
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Independent Minds
Halifax has launched a new five-year fixed-rate mortgage offer for first-time buyers, which pays 1 per cent of the purchase price. This is designed to alleviate stamp duty costs.
Stamp duty is usually charged at 1 per cent on properties between £125,000 and £250,000 (this rises to 3 per cent between £250,001 and £500,000 and 4 per cent above £500,000). However, with the housing market in the doldrums, the Government has implemented a stamp duty holiday on properties up to £175,000 until December.
Halifax's stamp duty mortgage is available on properties up to £250,000 meaning it could save first-time buyers up to £2,500.
In order to qualify you must take out a five-year fixed-rate mortgage at 6.44 per cent. Available on loans up to 90 per cent of the property's value, there is a £495 arrangement fee.
For first-time buyers who only have a 10 per cent deposit, this is the market-leading five-year fix on loans above £150,000 (if you are borrowing less than that, NatWest has a deal at 5.99 per cent which will be better value).
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Comments
You have moral authority over the governmnet and the banks. Who have proven themselves to be liars, thieves and incompetent fools.
Take all your savings out of banks that have been bailed out by the governmnet, because these banks are supporting Browns Mortgage Relief scheme.
In other words, the government and Banks are stealing your interest, to give it to the people, who were suckered into buying at peak, and are now paying as little as one pence per month, to stay in 400k houses, while you still have to find 7,8,900 pounds per month rent.
TThe banks and the government are thieving scum. Dont believe their lies.
They are all at it. All these vested interest media groups, presenters. SKY, BBC, The Times, Will Hutton with his BTL portfolio, Kirsty and Phil, Gordon Brown, Labour, all the Banks, the Estate Agents, House Builders.
They are all desperate for the Money of FTBers.
A 50% reduction would not destroy the country. It would not be financial armageddon as they would have you believe. Dont believe them
A 50% deduction off a house that was sold for 60k in 1999, and is now on the market for 240k is, still a complete rip off.
If you are alooking to buy your first house, search the web for the 1999 sold prices, and dont offer a penny more. And dont belive a word of the Estate Agents.
They are complete liars. That is the essence of their job now.
If you had talked to them 2-3 years ago, they would have sworn on the souls of their children that house prices would never drop. Dont trust them.