2014 mortgage rate prediction: a 5% deposit price war is on the cards.

2014 mortgage rate predictions are for a price war at the lower deposit end of the market.

Since the launch of the Help to Buy mortgage scheme, more and more lenders have come forward with lower rate lower deposit products, aimed at those with just 5% as a deposit.

While there are currently 18,000 reservations under the new mortgage scheme, not all buyers want a Help to Buy deal and are looking for competitive alternatives.

Some just want a standard mortgage at a low rate, and lenders such as the Yorkshire Group have reacted by releasing alternative products.

For instance various lenders within the Yorkshire Group such as the Chelsea BS have recently released several new lower deposit mortgage rates. These low rate mortgages should remain available well into 2014 for anyone looking for a highly competitive 5% deposit deal.

Mortgage rates offered by the Yorkshire BS have for instance have been set lower levels than those offered by RBS and NatWest through the Hep to Buy scheme.

Yorkshire BS 2014 lower deposit mortgage range highlights include:

• A 2 year fixed mortgage rate at 4.89%, fee free with cashback.
• A 2 year fixed mortgage rate at 4.69%, with a £845 fee.

While at the start of 2013 lenders competed for buyers with a 40% deposit, at the end of the year we see competition heating up at 95% LTV end. There is great optimism for smaller deposit buyers looking for a mortgage into 2014.

If you want advice and to review your mortgage options you are recommended to call an impartial and independent mortgage expert.

Independent 'whole of market' broker Deal Direct can find you a mortgage to make your home owning reality a dream.

Deal Direct review all lower deposit deals available on a 'like for like' basis to find you the one which really is the most competitive and affordable overall. We work in our client's interest and not in the interest of any lender, we find the mortgage which is right for you.

If you are looking for a mortgage for 2014, call today and we can begin searching for the right deal tailored to your needs.

Let our skilled advisers find you a low rate mortgage.

Call on 0800 048 8828.