Some good rates out there

For example, aimed at new customers only, Santander has launched a sub 3% fixed rate for five years and a sub 4% fixed rate for ten years.

Both attractive rates and the longer term very attractive, if you can guarantee your circumstances are not going to change over the next ten years! Otherwise, there will be a big penalty charge to get out of such a mortgage.

However, this is an ongoing trend as we are seeing a lot of people considering medium to long term fixed rates.

The certainty of knowing exactly what the cost of your mortgage payment is each month and that this will not change over a period of time is very attractive, especially with the current rates being so low and so many lenders competing for business.

Low deposit mortgages are also back on the radar.

We have limited access to a lender who will offer a 95% mortgage to both First Time Buyers, as well as Next Movers, with no requirement to buy a new build property.

The lender does not credit score either, so not being on the voters role or not having any credit will not be held against you, as it is with some high street lender credit scoring systems.

This is a superb product offering and I’m sure it will not be around for long, so do seek advice before it is withdrawn.

Finally, some councils and housing associations have been selling off their properties for many years.

However, more recently the government have really been pushing these opportunities again.

With some recipients receiving up to £75k discount from the normal open market value, these are attractive propositions.

Some high street lenders will assist, but until recently, not many would have considered a mortgage for anybody who had missed any payments or had the occasional financial issue.

Again, this is an area that is being relaxed and there are now lenders who will look to assist for the right property in the right area. Do seek professional advice to find out more.

Dale Jannels - AToM director