Ipswich building society has launched a new two-year fixed rate mortgage aimed at first-time purchasers who can only manage a 5% deposit. At 4.89% it is not the cheapest 95% deal, but some people who have been turned down by other lenders may be approved. Ipswich uses individual underwriting rather than central computer systems, so applicants who missed, say, one mobile payment by accident, but have an overall good credit record otherwise, may be approved. There is a pounds 150 application fee and a completion fee of pounds 975. Overpayments of up to 50% of the original loan are free.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- U.S. to Relinquish Gov't Control Over Internet
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Quiznos Files for Chapter 11
- Some California Cities Seeking Water Independence