The 95% mortgage offer is aimed to help encourage first time buyers into the property market and help home movers find an affordable new property. With the average price for these properties at just £105,000, a buyer would need just over £5,000 for a deposit, which is ideal for first time buyers.
In addition, many of these properties come with a further incentive of fixed conveyancing legal fees of £299, to allow buyers the added financial freedom to complete the purchase.
Robin King, whitehotproperty.co.uk, director, commented: "Property that is affordable is not easy to come by in the current market. By offering a 95% LTV, we are giving purchasers the chance to buy a home that does not break the bank. Despite indications that the property market is picking up, the industry still has a long way to go to full recovery and encouraging buyers back into the market is the first step towards this."
