Yorkshire Building Society First Time Buyer mortgage 'helps those just starting out'

Date:Monday 5th July 2010
Author: Susanna Kavka

The new Yorkshire Building Society First Time Buyer mortgage is only available for people trying to take their first step on the property ladder.

In order to apply for the product, individuals must head to one of the firm's branches, with mortgage product manager at the company Tom Girling suggesting that the situation is changing for first-time buyers.

He claimed that people with smaller deposits are finding they are able to secure a home finance deal and many fees are being waived.

"We've tried to balance the need to help first-time buyers with the need to lend responsibly and designed the new range to provide different ways to help those who are just starting out," explained Mr Girling.

The Yorkshire Building Society First Time Buyer is available at a fixed rate of 5.99 per cent interest for up to 90 per cent loan to value.

Last month, the firm revealed that it topped the best-buy tables with a two-year fixed-rate arrangement at 2.89 per cent interest.