What mortgage can I get with my deposit?
If you are wondering what mortgage rate you can get with your deposit, contact us a Deal Direct. We will review all lenders’ products market-wide to find you the one which is most competitive for your LTV level.
We often get asked how much deposit is required to get a mortgage, however there’s no standard amount that you need to have saved. The rule is the larger the deposit you have, the lower the rate you will achieve, and the lower the rate the lower your monthly repayments will be.
While a large deposit is good to have, don’t despair if you are struggling to save as there are deals out there at all LTVs.
For smaller deposit buyers the availability of deals up to 90% LTV is rising, and providing you meet lenders’ affordability criteria you should be able to get a mortgage. There are also government schemes aimed at lower deposit buyers, and to work out if you would be better off with a standard mortgage or one related to a government scheme, will depend on your individual circumstances. To find out more call 0800 048 8828 to talk through your options.
For buyers with a deposit of 25% or more, the best rates are on offer, and at present rates for a 2 year fix start as low as 0.99%. this means home-ownership is much more affordable these days.
To find out what mortgages are available at your deposit level call one of our impartial mortgage advisers at Deal Direct. We are ‘whole of market’ and independent which means our advice is too.
For no-obligation advice, and a low rate quote call 0800 048 8828.
