Britannia makes it easy

Latest figures from the Council of Mortgage Lenders show a massive 85 percent of first time buyers are opting for a fixed rate mortgage.

As part of its commitment to helping first time buyers, Britannia Building Society has pledged its highly competitive three and five year fixed mortgages will remain in place.

The lowest rate three year fixed has a rate of 5.34 percent and the lowest rate five year fixed has a rate of 5.24 percent. Customers have the choice to reduce their initial set up fees and remortgage customers can switch for free to a very competitive rate.

Not only is Britannia providing security, it is also offering people a way of saving thousands of pounds for those who can see further than a fixed rate deal.

By switching to its flexible mortgage, people can save almost £40,000 on their mortgage and be mortgage free sooner than they think!

By simply cutting out a packet of cigarettes a day and buying one less pint of beer/glass of wine a week, borrowers would save an average of £160 a month - which could be added on to their mortgage payment.

Not only can they reap the cash benefits, but a 25-year, £130,000 mortgage would be paid off seven years early, saving the borrower approx. £38,000 in interest.

Even those wanting to cut a few calories and get in shape for summer can benefit. By resisting just one cup of take-away coffee and a bar of chocolate a day and using the cash to make overpayments, a mortgage could be dramatically reduced by £18,000.