Lenders slash high LTV mortgage rates.

The news is positive for lower deposit buyers, as several lenders have announced rate cuts to their high LTV deals.

This means owning a home has become cheaper for those at the lower deposit end of the market.

With rates set low now may be the time to buy or remortgage because cheap rates are not likely to remain on offer for very much longer.

One lender to have cut its rates is the Nationwide which has announced cuts of up to 0.35% on its deals for 85% LTV and above. Products included are 2, 3, and 5 year fixes for up to 90% LTV, range highlights include:

• A 2 year fix for up to 90% LTV at 3.14%.
• A 3 year fix for up to 90% LTV at 3.49%.
• A 5 year fix for up to 90% LTV at 3.74%.

Clydesdale and Yorkshire Banks has also reduced its rates, new first time buyer deals include a 2 year fixed 90% LTV deal at 3.49% and a 95% LTV deal at 4.59%.

Coventry for Intermediaries has cut its 90% LTV range, rates now start from 2.99%.

If you are looking to buy a property or remortgage and would like to review the mortgages that are on offer for your deposit level call us at Deal Direct on 0800 048 8828.

Our highly qualified advisers are up to date on all lenders lending criteria and mortgage offers, and can find you a competitive deal. We compare all mortgages on a 'like for like' basis which means we find you the offer which is most affordable overall.

For impartial advice and a low rate mortgage,

call 0800 048 8828.