{"id":21559,"date":"2018-09-25T15:30:50","date_gmt":"2018-09-25T14:30:50","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=21559"},"modified":"2023-10-10T10:23:33","modified_gmt":"2023-10-10T09:23:33","slug":"record-low-fixed-rate-mortgages-pave-the-way-for-first-time-buyers","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/09\/25\/record-low-fixed-rate-mortgages-pave-the-way-for-first-time-buyers\/","title":{"rendered":"Record low fixed-rate mortgages pave the way for first-time buyers"},"content":{"rendered":"<p><strong>First-time buyers with a 5% deposit ready to purchase their first home are in a prime position as the average rate for a fixed rate mortgage with a 95% loan to value (LTV) is the lowest on record.<\/strong><\/p>\n<p>According to the latest figures from Moneyfacts.co.uk, the average two-year and five-year fixed rates mortgages at 95% LTV have reached their lowest value since Moneyfacts began recording this data in 2007.<\/p>\n<p>The average two-year fixed rate has fallen a massive 0.22% from 3.95% to 3.73% in just one month, and average five-year fixed rates are down to 4.08%. While many expected rates to increase following the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/09\/19\/buy-to-let-mortgage-rates-start-their-upward-trend\/\">base rate rise<\/a>, mortgage lenders are unlikely to risk negatively impacting their largest pool of new customers \u2013 <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/08\/31\/first-time-buyers-to-benefit-from-reduced-rate-95-ltv-mortgage-deals\/\">first-time-buyers<\/a>.<\/p>\n<p>Moneyfacts figures also show a boom in the number of mortgages specifically targeted at first-time buyers. This month there are 345 mortgages at 95% LTV to choose from, a significant increase on the 120 available back in September 2016.<\/p>\n<h4>Lenders compete for first-time buyers<\/h4>\n<p>95% LTV borrowers are largely seen as the lifeblood of the market, according to Charlotte Nelson, Moneyfacts finance expert. As the market gets increasingly <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/07\/12\/reduced-rates-and-new-mortgage-deals-as-lender-competition-increases\/\">competitive<\/a> for this customer base, lenders are working hard to position themselves as the \u2018go to\u2019 provider for first-time buyers.<\/p>\n<p>95% mortgages might still be some of the most expensive on the market, but for borrowers that cannot raise a 10% deposit, it doesn\u2019t get much better than this. While rates remain low, they are in a great position to secure a better <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/08\/02\/10000-mortgage-prisoners-to-be-offered-cheaper-mortgage-deals\/\">mortgage deal<\/a> than ever before.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>First-time buyers with a 5% deposit ready to purchase their first home are in a prime position as the average rate for a fixed rate mortgage with a 95% loan to value (LTV) is the lowest on record. According to the latest figures from Moneyfacts.co.uk, the average two-year and five-year fixed rates mortgages at 95%<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/09\/25\/record-low-fixed-rate-mortgages-pave-the-way-for-first-time-buyers\/\" title=\"ReadRecord low fixed-rate mortgages pave the way for first-time buyers\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":3380,"featured_media":15281,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4,26],"tags":[73,25,341],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/21559"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/3380"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=21559"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/21559\/revisions"}],"predecessor-version":[{"id":6097405,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/21559\/revisions\/6097405"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/15281"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=21559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=21559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=21559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}