Which are the best high LTV mortgage deals?

Low deposit mortgage deals have become more readily available compared to six months ago.

Cheaper deals at higher LTVs have come at a good time for would-be buyers as house prices rise.

As property starts to once again climb in cost many smaller deposit buyers cannot wait any longer, and are looking for a cheap deal at their LTV to enable them to purchase now.

By waiting and saving more for a mortgage, buyers not only face rising property prices but rising rates.

While saving a large deposit makes sense when looking for the cheapest mortgage deals, it may make less sense as prices rise.

With a smaller deposit your rate my end up higher but at least you will have climbed on the property ladder or moved home. You could look for a deal with no early repayment charge, and pay down your mortgage with any additional money you save after making your home purchase.

If you want to purchase a home before prices rise, what are the best deals on offer at the lower deposit end of the market?

Several lenders are offering products through the government backed initiative Help to Buy. Under the scheme you need a 5% deposit but then are offered help with a further 20% to allow you access to 75% LTV deals.

Various lenders are part of the initiative including the Woolwich which offers a 3 year fixed rate mortgage at 3.49%. For a longer level of security NatWest has a 5 year fixed rate Help to Buy deal at 3.59%.

If you do not want to go down the Help to Buy route what are your options?

While there are some 5% deposit mortgages on offer rates remain high, rates get cheaper with 10% as a deposit.

90% LTV best buy highlights include:

• 2 year fixed rate mortgage at 3.69% - Chelsea BS
• 2 year fixed rate mortgage at 3.74% - Yorkshire BS
• 5 year fixed rate mortgage at 4.74% - Yorkshire BS
• 5 year fixed rate mortgage at 4.79% - NatWest

If you would like a full product review of all lenders low deposit mortgage deals call 0800 048 8828 for a quote.

Mortgage criteria and fees vary from deal to deal and lender to lender, therefore you are advised to seek expert help when looking for the best offer for your circumstances.

Call Deal Direct on 0800 048 8828, for advice and a quote.