Marsden Building Society has launched a 3.99% fixed rate mortgage until 2015 for LTVs up to 90%. Michael Ossei, personal finance expert at Uswitch.com**, says:** “Following launches from Yorkshire Building Society and Chelsea Building Society below the 4% mark at the start of the year, this is further good news for first time buyers especially those with only 10% deposit.
“This will no doubt be music to the ears of tens of thousands of would-be first time buyers. With free valuation costs included, this mortgage could be the little injection needed to get more first time buyers into their own home and put their renting days behind them.
“This aside, some might see this move as a sign that we are getting closer to building societies and other lenders offering 100% LTV mortgage deals. While this would no doubt be saluted by first time buyers, it could be seen as a danger sign that the industry is creeping back towards irresponsible lending.”
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Charlotte Nunes
Phone: 020 7148 4664
Email: charlotte.nunes@uswitch.com
Twitter: @uswitchPR
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