First Time Buyers get cashback on Contractor Mortgages

There is some very exciting news for First Time Buyers as the Contractor friendly lender Halifax gears up to offer cash back on their entire First Time Buyer mortgage range. 

According to ContractorMoney, a leading and specialist contractor mortgage broker; First Time Buyers applying for a mortgage between 4^th of May and the 28^th of June 2015 could receive a 1% cashback. 

THE OFFER

Halifax will pay first time buyers cash back of 1% of the loan amount available up to a maximum £2,500. The total amount is calculated as 1% of the whole mortgage balance including fees.

The cashback will be paid within 30 days of the mortgage completion, into the bank account that the mortgage payments will be paid from. This cashback deal is available on affordable housing, new build and Help to Buy purchases.

Buyers who qualify for the cashback could also get £50 back if they take out combined buildings and contents insurance before the 9th of August and also a £100 discount on their e-conveyancing service.

Please note this offer excludes buy to let and large loans over £1million.

THE RATES

This special offer is available with Help to Buy purchases, which means borrowers with as little as a 5% deposit can benefit and the rates are some of the best in the market too:

- 40% deposit – 2 years fixed at 1.64% with a £1,499 arrangement fee

- 25% deposit – 2 years fixed at 1.94% with a £1,499 arrangement fee

- 20% deposit – 2 years fixed at 2.19% with a £1,499 arrangement fee

- 15% deposit – 2 years fixed at 2.44% with a £1,499 arrangement fee

- 10% deposit – 2 years fixed at 3.74% with a £1,499 arrangement fee

- 5% deposit – 2 years fixed at 4.79% with a £999 arrangement fee

THE BROKER

Here at ContractorMoney we understand that as a contractor buying your first house can be one of the most expensive purchases you will ever make. That’s why we want to help you.

Not only will you receive up to £2,500 from Halifax but by applying through ContractorMoney you’ll also save on the usual “Broker Fees” as we won’t charge you a penny for our services. Instead, we just receive the introducer’s commission paid by the lender for arranging your mortgage. Buying a new home is an expensive time; people are often left with no savings after purchasing their new home.

This cashback scheme shows a real commitment to helping first time buyers get on the property ladder and provide practical help with not only the upfront costs of purchasing a home but also the moving in costs.