Clydesdale and Yorkshire banks still offer a 95 per cent loan-to-value deal for first time buyers.

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  • First time buyers hoping to secure finance on new homes can benefit from a low deposit mortgage from Clydesdale and Yorkshire banks.

    The two lenders are reaffirming their commitment to helping people onto the property ladder with the continuation of their 95 per cent loan-to-value mortgage.

    Fixed for three years at 6.99 per cent, the deal includes a free home valuation and an arrangement fee of £599.

    According to the banks, customers buying new homes with an average price of £121,717 would need a deposit of £6,085.85 to secure the finance.

    Steve Reid, retail director for Clydesdale Bank, said: "We understand how difficult it can be to buy your first home and we want to support customers throughout the process and help them take their first step on the property ladder."

    Owned by the National Australia Bank Group, the two banks have set an ambitious lending target which could benefit homebuyers.

    The group want to hit a target of £10bn in lending to its customers by October 2011.

    Announced in 2009, the pledge could help to secure mortgage finance for new homes.

    Some information contained herein may have changed since it was first published. SmartNewHomes strongly advises you to seek current legal and/or financial advice from a qualified professional.

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