MeetMyAgent Comments as Co-Operative Bank Launches 10% Mortgage
MeetMyAgent.co.uk, an independent estate agent review and rating website, comments after the Co-Operative Bank announced the launch of a two-year fixed rate mortgage for borrowers with a 10 per cent deposit, and charges under 4 per cent interest.
Online PR News – 24-November-2012 – London – London, United Kingdom (15th November, 2012) – MeetMyAgent.co.uk, an independent estate agent review and rating website, comments after the Co-Operative Bank announced the launch of a two-year fixed rate mortgage for borrowers with a 10 per cent deposit, and charges under 4 per cent interest.
The mortgage from the Co-operative Bank carries no set-up fee, and charges 3.99 per cent until 31st December 2014. This offer is now the UK’s official best-buy loan, having taken over Chelsea Building Society’s competitive rate of 4.19 per cent, and represents what MeetMyAgent believes is a considerable saving for first-time buyers who can only save up a small deposit.
A spokesperson for MeetMyAgent commented: "This competitive mortgage offer from the Co-Operative is hopefully the beginning of some much-needed competition in the high loan-to-value section of the market.
“The government’s funding for lending scheme has certainly helped consumers with deposits of 20% or above, as mortgage lenders use the cheap loans from the government to pass on rate savings.
“To get the housing market moving, first-time buyers, who generally have modest deposits, need to have access to lending at competitive rates - providing that they are creditworthy, of course.
“It will be interesting to see how the 10% deposit end of the market develops in terms of rates over the next few months."
For more information on MeetMyAgent and their estate agency services, visit their website at http://www.meetmyagent.co.uk.
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