New Mortgage Deal With Just 10% Deposit From Barnsley

Barnsley Building Society has a new mortgage deal requiring just 10% deposit and no product fee which will be good news for first time buyers.

Barnsley, part of Yorkshire Building Society has a new 2 year fixed rate mortgage with a rate of 6.35% and no up-front product fees.

Toni Roberts, Product Manager for Barnsley said: “We’ve tried to balance the need to help buyers with the need to lend responsibly and we acknowledge there’s more to a mortgage than just a headline rate.

We are now lending to people with smaller deposits and waiving the product fee. This can make such a difference to the amount a borrower can put down as a deposit.”

For those looking for a mortgage or to remortgage who have a greater deposit there are other deals available from Barnsley, all without an up-front product fee, including

• 2 year fixed rate mortgage, up to 75% LTV at a rate of 3.59%
• 5 year fixed rate mortgage, up to 75% LTV at a rate of 4.49%
• 2 year tracker mortgage, up to 75% LTV at the Bank of England Base rate + 2.34%

For those who are looking for a fixed rate mortgage with up to 60% LTV, Skipton Building Society recently added a new Limited Edition 2 Year Fix mortgage with a rate of 2.99% and no product fee.

It’s good to see these mortgage deals and with the latest RICS UK Housing Market survey showing a fall in buyer demand which has pushed prices lower, there may be an improved opportunity for some to buy the house they want.