Interest-Only Mortgages: How Much Deposit Do You Need?
Thinking about an interest-only mortgage? Whether you’re buying a new property or considering switching your current deal, interest-only can be a smart strategy in the right circumstances. It isn’t for everyone, but if you have a clear repayment plan and fit the criteria, it can provide extra flexibility and lower monthly costs.A common belief is […]
95% LTV Mortgages
If you’ve saved up a 5% deposit, you’re in a great position to get moving. Right now, there are plenty of lenders offering 95% LTV mortgages, making it one of the most popular routes for first-time buyers to get onto the property ladder.But not all 95% mortgages are created equal. Some lenders are more generous […]
What is loan to value?
What is loan to value?Loan-to-Value (LTV) is a simple yet crucial concept in finance. It represents the ratio of a loan amount to the appraised value or purchase price of an asset, such as a home or car. LTV is expressed as a percentage, with a higher percentage indicating a larger loan relative to the […]
Are there any 95% LTV mortgages?
Given that the average mortgage deposit in the UK was around £59,000, equivalent to 23% of the total mortgage amount, it’s no surprise that saving for such a substantial sum can be a significant hurdle for aspiring homebuyers. However, there is good news, as there are mortgage lenders who offer options for lower deposit amounts, […]
Is 90% a good LTV?
90% LTV mortgagesWhat is a 90% loan-to-value mortgage?A 90% loan-to-value (LTV) mortgage in the UK is a type of mortgage that allows borrowers to potentially borrow up to 90% of the value of a property they want to purchase, while they provide a deposit of only 10%. This can be a great option for those […]