Property Investment News: Nationwide offers account holders 95% LTV mortgage

Property Investment News – Nationwide offers account holders 95% LTV mortgage – Mortgage strategy.co.uk – 04 May 2011 – By Natalie Thomas

Nationwide is to launch save to buy – an account for first-time buyers to save regularly towards their deposit that also enables them to apply for a 95% LTV mortgage.

The account will be available from May 6 2011, on a direct only basis.

Save to buy will offer first-time buyers a regular savings account paying a rate of 2.5% gross p.a./AER variable on balances up to £20,000.

Nationwide is to launch Save to Buy – an account for first-time buyers to save regularly towards their deposit that also enables them to apply for a 95% LTV mortgage.

The account can be opened with £50 and customers have to save at least £50 per month, plus customers have the flexibility of not paying the minimum monthly amount for up to three months during a rolling 12-month period. If the first-time buyer goes on to take out a Nationwide 95% LTV mortgage, there is also a cash-back reward of up to £1,000.

About the Author

Brett has over 20 years experience in all facets of property, he owns various companies centred around property and is the driving force behind the education and training at Gladfish. His companies have sold over £850 million in UK and London property and he manages over 1200 properties through his estate agency chain. Today he shares his time between UK, Australia and Singapore. He is married to Arlene and together they have 4 kids.

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