Countrywide Mortgage Services, the UK’s largest mortgage broker, launches an exclusive mortgage product, designed with first-time buyers in mind, which is available through Taylors.

At a time when many mortgage customers require a 20 or 30 per cent deposit, Countrywide has a mortgage product that requires only a ten per cent deposit in the market. The five-year exclusive mortgage product has a 90 per cent loan to value (LTV) available for first-time buyers struggling to raise a deposit.

As concern over the recovery of the economy continues, Countrywide’s research indicates that more customers are opting to secure themselves with a longer term fixed rate in order to shelter themselves from the risk of any sudden changes to the mortgage market.

In the month of June, six of Countrywide’s top ten mortgages sold were three- to five- year fixed rate deals – a strong indicator that longer term fixed products are in most demand.

Pete Wallace, managing director, says: “We’re pleased to see Countrywide launch innovative mortgage products that reflect what our customers want. We have a team of professional mortgage consultants ready to talk about exclusive products you won’t find elsewhere on the high street.”

Unlike many mortgage products, this month’s exclusive deal has no arrangement fee and includes a £500 cash back incentive, which significantly reduces the cost of moving. The cash back offer is available for a limited time period and provides an opportunity for customers to save, furnish their new home or settle other costs in the home moving process, like surveyor fees and legal costs.

Countrywide Mortgage Services employs nearly 800 consultants across the country with a team of consultants based throughout Taylors’ extensive branch network.

Erik Lenbergs, financial services director says: “Buyers with small deposits have found it particularly difficult to take advantage of reduced house prices and a majority of mortgage products available to first time buyers over the last quarter have required a 15-25* per cent deposit on average – which has been unobtainable for many. There are a number of opportunities and products available for first time buyers, local home movers and landlords looking to invest and enjoy a bigger return than their savings account can provide. Our advice is to move quickly as the best mortgage products are often available for limited periods.”

Local mortgage customers can access information on hundreds of mortgage products and government home ownership housing schemes by visiting a Taylors office or online at www.taylorsestateagents.co.uk To find out more about the latest mortgage options available to you locally, contact your local Taylors branch and ask about the exclusive mortgage offers.

TAYLORS
33-35 Chequer Street St Albans Hertfordshire AL1 3YE
Telephone: 01727 840055

* Source: Countrywide Mortgage Services – product sales data for Q2 2009.