Finding the best fixed rate mortgage with a 20% to 30% deposit.

Finding a good fixed rate mortgage deal usually depends on the size of your deposit.

If you have a moderate deposit of between 20% and 30% then there are some reasonable deals available for you. The smaller the deposit you have, then the less competitive the deals appear to be.

This is because the loan to value (LTV), is one of the main risk factors that lenders consider when you request a mortgage. When the LTV ratio of a loan is high, then lenders are more at risk of absorbing any debt in the likelihood of a mortgage default.

Lower LTV ratios of 80% and below carry with them less risk for the banks and you can generally access some good interest rates.

For the latest fixed rate mortgage deals that have been announced and to find the best deal for your LTV ratio, contact us at Deal Direct.

Deal Direct are whole of the mortgage market brokers and we compare all of the lenders offers to find the right deal for you. We look not only at interest rates, but at fees and deposits required to ensure your chosen mortgage fits in with your lifestyle and circumstances.

Low cost mortgage deals are not out of the question for those with 70% LTV from lenders such as the Chelsea Building Society who offer some competitive deals.

They have a 2 year fixed rate deal with an initial rate of 3.49% and a fee of £895. For a 5 year fixed rate mortgage also for LTV of 70%, they offer a rate of 4.09%. This mortgage does come with quite a large fee of £1,495.

If you consider the Chelsea's 7 year fixed rate mortgage at 4.49% then the fee is a more reasonable at £395. Again this is for a 70% LTV mortgage.

Contact Deal Direct for an up to date comparison of the best mortgage deals.