Compare mortgage availability & rates for low & high deposit.
If you compare mortgage availability for high and low deposit deals, things appear to be improving for first time buyers. According to recent figures, the number of products available for home buyers with just 10% deposit is gradually increasing.
If you are a first time buyer or have a small deposit or equity, contact Deal Direct for the best offers available. We are are constantly updating our offers with the best deals from lenders throughout the whole of the mortgage market.
Since the launch of the Funding for Lending scheme the number of deals available with 10% deposit has risen. From just over 250 products available in August, 300 were on offer at the beginning of November.
While the number of low deposit deals is improving if you compare mortgage availability with 40% deposit a wide gap still remains. Nearly 500 deals are on offer with a deposit of 40% or more and these are the best deals in the market.
If you compare mortgage rates there is also a difference depending on your deposit. While the Funding for Lending initiative has encouraged lenders to cut rates, the focus has been on high deposit low risk deals.
The Co-operative Bank's recently launched 2 year fixed rate of 3.99% is on offer with just 10% deposit. This is a lower rate for first time buyers, though it is still much higher than rates below 3%, available with a larger deposits.
At Deal Direct we have access to low rates from lenders, for both high and low deposit deals.
Call us now for the latest rates.
