Accord Mortgages has launched a new product tailored for those taking their first steps into homeownership today. To be eligible, at least one applicant must be a first time buyer, defined as someone who has never owned a property before. Additionally, applicants must have a minimum deposit of £5,000.

Here are the critical details of their new mortgage product:

• 5-Year Fixed Rate: Enjoy a fixed-rate mortgage’s stability and peace of mind for the first five years.
• The product is available for a Loan to Value (LTV) range between 95.01% and 99%.
• Suitable for house purchases ranging from £100,000 to £500,000.
• The minimum loan amount is £95,000, with a maximum loan of £495,000.
• The product is exclusively available for new house purchases for applicants taking their first steps onto the property ladder.
• The £5,000 deposit can be a gift from an immediate family member or a concessionary purchase.

At Independent Mortgages Direct NE (IMDNE), we understand the significance of owning your first home. We’re committed to supporting first time buyers in taking their first step to achieving this milestone of making homeownership dreams a reality.