Mortgage 2000 offers first time buyer benefits

A new market-leading mortgage designed to benefit first time buyers has been launched by Mortgage 2000.

With a fixed five-year interest rate of 5.72 per cent, the loan carries no upfront arrangement or booking fees and will be available from a number of Mortgage 2000 distribution channels

Intended especially for first time buyers, the product offers the security of a fixed rate deal while providing the customer with a free valuation.

"With first time buyers driving the market forward it is crucial to help people onto the property ladder so this product was designed exactly with that in mind," said Chris Burton, product manager for Mortgage 2000.

"Working with our lender partners to develop exciting, innovative products is always a rewarding experience but especially when the outcome is a market leader such as this," he continued.

Recent figures from the Council of Mortgage Lenders have shown that only 27 per cent of mortgage borrowing is made by first time buyers. Mortgage 2000's new product aims at allowing effective property investment for first timers within a fixed budget. 

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