Cambridgeshire is an incredibly popular location to live, with the vibrant city of Cambridge at its heart. Its desirability causes house prices to remain high and a potential barrier for those with a low deposit looking to purchase in the area.
The number of First Time Buyers plummeted during 2020 and as further analysis is released, it is evident house prices have increased despite the global pandemic. The average house price in Cambridgeshire soared past £300,000 in September 2020 for the first time since Land Registry records began in 1995.
The enhanced low deposit range from The Cambridge aims to help First Time Buyers and those seeking to move home with smaller deposits. Rates start at just 2.89% on the two year discounted mortgage – a new edition to the range. With no completion fees and the flexibility to overpay by up to 10% The Cambridge expect this product to be particularly popular.
Product | Initial interest rate | Application Fee | Completion Fee | Early Repayment Charge | Over- payments |
2 Year Discounted | 2.89% | £199 | £0 | 1% | 10% |
2 Year Fixed | 3.39% | £199 | £800 | 3/2% | 10% |
5 Year Fixed | 3.49% | £199 | £800 | 5/4/3/2/1% | 10% |