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Saving enough deposit is a major hurdle for would-be mortgage holders.
The good news is that lenders have recognised there is a need that has to be properly served if more people are going to get on the housing ladder. Consequently, there has been a rise in the number of high LTV mortgage products available as lenders respond to demand.
Aldermore is an example of a lender who already has a range of 95% mortgages. The recent action they have taken, however, is to shave 0.5% from its rates.
Rates now start from 5.18% with no fee to pay or 4.98% with a £999 fee.
Its Help to Buy range now includes 2, 3 and 5 year fixed rates starting from 3.78% and reviews have also been made to the pricing of its mortgages for new builds.
Other lenders have either introduced new high-LTV ranges or followed suit and adjusted pricing on existing loans. But, how do you choose between them? What is the difference in real terms whether you opt for a lower rate with a product fee or a higher rate with no fee? How do you determine which one offers the best all-round value when you factor in all of your other costs?
Don’t worry – you don’t have to answer these questions alone as Deal Direct is here to offer expert advice, guidance and assistance in determining which mortgage is the right one for you. We’ll even help you present your application in the best possible light to increase the possibility of a favourable decision when it comes to approval.