Latest best buy mortgage deals on offer.

When the Co-operative Bank recently launched a 90% LTV fee-free best buy mortgage, it was a significant deal for first time buyers. The product was one of the first aimed at helping buyers with small deposits, since cheaper funding for lending became available.

If you are looking for a low rate mortgage, Deal Direct are here to help. We are constantly monitoring mortgage market changes and can offer independent advice and the cheapest rates available. Call us for a best buy mortgage to suit your individual situation.

The Co-op's deal offering a 2 year fixed-rate of 3.99% was as a result of £80billion of cheaper finance available for lenders. The Government scheme is anticipated to encourage more lower rate mortgages to help home buyers. However, until the Co-op's deal most low rate offers were limited high deposit deals.

While the availability of mortgages may have increased throughout the market, potential buyers with smaller deposits have still struggled. The Co-op's deal has the advantage of being fee-free compared to many low rate deals with large fees.

There are now 300 different mortgage products on offer for up to 90% loan to value. However, while the number of mortgage deals offered with 10% deposit may be increasing, the average rate remains around 5%.

As the funding for lending initiative continues it is hoped that more competitive deals will emerge. However, you may need to act quickly as some deals are limited by the funding allocated to them. We have already seen Tesco's best buy mortgage withdrawn less than a month after its launch.

Call Deal Direct for the latest deals.