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House builder launches 95% LTV deal

Housing builder Kier Homes, has launched Step One + which offers its buyers a mortgage up to 95% LTV.

The scheme works by offering potential buyers a Step One + secured loan combined with a traditional first mortgage.

It is working with UK specialist lender Step One Finance Limited – a private limited company, to offer the loan.

It provides a top-up loan for customers to buy new build homes.

Step One offers up to 15% of the purchase price on top of a first mortgage to a total LTV of 95%.

The Step One + loan is a secured loan product offered with a 10-year term, which it says is at a competitive fixed interest rate and has no early repayment charges.

Upon viewing a Kier home, potential buyers will then be referred to Kier’s nominated financial advisor.


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  • Jean Gray 22nd June 2011 at 6:17 pm

    Sorry smlaing but what about the money being spent on renting – as long as the mortgage is on a repayment basis and the underwriting is good then the risk is minimised. If no-one kick starts the mortgage market the economy will continue to bump along the bottom!

  • smlaing 21st June 2011 at 5:21 pm

    If I were an FTB I’d sit it out. Time is on your side. Nothing will happen in the property game for years…….No hurry.

  • Maurice Edgington 21st June 2011 at 4:54 pm

    Wel done Kier Homes & Step One Finance. At least someone is trying to do something positive at last.

  • Maurice Edgington 21st June 2011 at 4:53 pm

    Wel done Keir Homes & Step One Finance. At least someone is trying to do something positive at last.

  • Richard Scott 21st June 2011 at 4:25 pm

    Sounds a bit like a Northern Rock Together mortgage and look what happened there. These types of product are fine until something goes wrong with the client’s circumstances and/or house prices. I have come across exactly the same with shared ownership coupled with divorce and decreased prices, only option is to sell losing equity which was minimal in the first place.