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Post Office slashes mortgage
03/10/2011
The post office has moved away from the buy to let market so that they can focus primarily on first time buyers, movers and re-mortgage customers.
The new mortgages they are offering could help first time buyers finally take their first step on to the property ladder as one of the new offers only requires a small 10% deposit at a very small interest rate of 4.75%.
The Post Office also boasts that their 5 year fixed rate mortgage is currently the lowest in the market at a rate of 4.99% which also requires a 10% deposit but requires a £995 fee.
These small deposits and small interest rates are great news for first time buyers as it makes starting on the property ladder more achievable.
But, homeowners aged 55 and over may want to help their grandchildren invest in their future by helping with the deposit. It could be a gift or even an early inheritance payment. Whether you want to invest in your grandchildren’s future or focus on your own future, equity release may be the perfect answer.
With equity release plans such as the lifetime mortgage you can release much needed funds from your property to help achieve these goals.
Contact the right equity release for advice on the best way to release your money.
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