Which are the best low deposit mortgage rates?
The margin between 2 and 5 year fixed rates has narrowed, and 5 year rates have become much cheaper.
However it is still the case that 2 year deals offer far lower rates and can be a much more appealing product, that is unless you are looking for longer term security.
Interest rates are set at 0.5% but the prediction is this could rise to 1.75% by the end of next year. This means if you opt for a 2 year fix, rates could well be on the rise as your fixed term ends so you could end up paying far more on your next deal.
With a 5 year term you will be protected against any increase during 2015, however you will pay more for this security.
For impartial advice and to discuss your mortgage options call MMR compliant broker Deal Direct on 0800 048 8828, we can find you the right mortgage at the best rate.
85% LTV mortgage highlights:
2 year fixed rates.
- Skipton BS offers a rate of 2.89% with a £395 fee.
- West Brom BS offers a rate of 2.79% with a £499 fee.
- Chelsea BS offers a rate of 2.74% with a higher £1,675 fee.
5 year fixed rates.
- Chelsea BS offers a rate of 3.64% with a £1,545 fee.
90% LTV mortgage highlights:
2 year fixed rates.
- West Brom BS offers a rate of 3.49% with a £999 fee.
- Skipton BS offers a rate of 4.19% with a £995 fee.
5 year fixed rates.
- West Brom BS offers a rate of 4.49% with a low £99 fee.
- Yorkshire BS offers a rate of 4.34% with a £975 fee.
- Nottingham BS offers a rate of 4.65% with a £199 fee.
95% LTV mortgage highlights:
Various lenders offer Help to Buy mortgages – call 0800 048 8828 for a comparison.
2 year fixed rates.
- Halifax offers a rate of 5.19% with a £995 fee.
- Virgin offers a rate of 5.29% fee free.
5 year fixed rates.
- Virgin offers a rate of 5.49% fee free.
- Yorkshire BS offers a rate of 5.69% with a £130 fee and £500 cashback.
- Leeds BS offers a rate of 5.19% with a £999 fee.
- Leeds BS offers a rate of 5.69% with a £199 fee.
To compare all mortgages market-wide speak to one of our advisers today. We can get you the best deal for your deposit level.
Call 0800 048 8828 for a low rate quote.
