Hardy & Brown Recruitment

Linden Homes is claiming to be the first housebuilder to offer a 95% mortgage, following recent government announcements on the new mortgage indemnity scheme for first time buyers.
Linden’s “Step Up” product allows buyers with a 5% deposit to purchase one of the housebuilder’s homes. It offers a rate of 4.99%, fixed until April 2015 on a 95% LTV mortgage. Buyers with a 10 to 15% deposit can enjoy rates of 4.49% and 3.99% respectively and fixed for the same period, Linden said.
The housebuilder is also set to launch another new mortgage product with Hitachi Capital (UK). “Deposit Assist” will allow buyers to secure a deposit of up to 15% via an unsecured top-up loan to boost their 5% deposit. This will create a 95% LTV mortgage at a blended rate of 5.55%, repayable over 12 years and applicable to houses and apartments costing up to £300,000.