Over the last year small deposit buyers have benefited most from mortgage cost cuts.
Mortgage costs have come down at all LTV levels, but research has shown that those who have benefited most in the last year are both first time buyers and lower deposit borrowers
In July last year 2 year fixed rate mortgage costs for up to 90% LTV, were 6% higher than they are now. Rates for high LTV mortgages are lower than ever, making now a good time to buy a first time home or move up a rung on the property ladder.
Interest rates have again been held at 0.5%, and lenders have been cutting rates which puts lower deposit buyers in a good position to get an affordable deal.
If you are looking to climb on the property ladder or you are looking to move to a new home, call us at Deal Direct.
We are independent and ‘whole of market’ which gives us access to ALL mortgage ranges market-wide. We can compare all products on a like-for-like basis to ensure that you end up with the most affordable mortgage for your deposit.
For advice and a low rate quote call 0800 048 8828.
