Lenders 5% deposit best mortgage deals still too restricted say Bellway.
Three lenders are offering low deposit best mortgage deals in support of the Government's NewBuy mortgage guarantee scheme, but the housebuilder Bellway has warned that deals remain too restricted.
The Bellway Group has commented on the scheme saying that while lenders have signed up pledging to offer NewBuy best mortgage deals, the availability of high LTV mortgages are still restricted.
A spokesperson added that Bellway feel it is unlikely that the scheme will have any significant impact on the current financial year, but hopes that it will go a way to supporting sales in the next financial year. It is hoped that more lenders will sign up to the scheme offering cheap mortgages as without this the scheme may be of limited success.
The three high street lenders already signed up to the scheme offering their best mortgage deals for 95 per cent LTV are, the Nationwide Building Society, Barclays and NatWest Home Loans. Halifax have advised they are likely to join and Santander is aiming to release to products towards the middle of the year.
For the most competitive mortgage deals currently available on the market contact 'whole of market' brokers Deal Direct.
