Low deposit mortgage range further enhanced with reduced rates
1 February 2021 • Products & Services
Getting a foot on the property ladder remains very difficult, particularly in light of the fact that despite the global pandemic house prices continued to increase during the course of 2020. The latest announcement from The Cambridge aims to address this with reduced rates and new additions to its low deposit mortgage range.
The number of First Time Buyers plummeted during 2020 and as further analysis is released, it is evident house prices have increased despite the global pandemic. The average house price increased by 7.5% and in Cambridgeshire, the lenders home county, average house prices soared past £300,000 in September 2020 for the first time since Land Registry records began in 1995.
The enhanced low deposit range from The Cambridge aims to help First Time Buyers and those seeking to move home with smaller deposits. Rates start at just 2.89% on the 2 year discounted mortgage – a new edition to the range. With no completion fees and the flexibility to overpay by up to 10% The Cambridge expect this product to be particularly popular. Products can be found by clicking here.
Kathy Bowes, Mortgage Manager at The Cambridge comments “The housing market has remained reassuringly buoyant and busy, whilst this is great for us and our intermediary partners, we recognise it makes it more difficult for people to get on the housing ladder. Our enhanced range for those who have a 10% deposit is yet another way The Cambridge are striving to support both First Time Buyers and those looking to move”.
For more information contact the team today.