It is no secret that we’re renowned for our expertise in Buy to Let, however, we are also passionate about supporting first-time buyers onto the property ladder.
Did you know that there are now more than 40 lenders offering 95% LTV mortgages and the number of lenders has steadily increased since March this year.
However, the strong return of 95% LTV mortgages has failed to make an impact with buyers. New data suggests that only a small number of mortgage completions are from 95% mortgages.
Strict Income requirements and stringent criteria are the main reasons why buyers are looking for alternatives to the much talked about 95% mortgage.
Our recent experience shows that a 90% loan to value tends to suit most applicants, and lenders are more likely to increase their lending to up to 5.5x income. Plus It’s now possible to get a 90% mortgage with a rate of less than 2%, – these low rates seemed highly unlikely just a few months ago.
Lenders have continued to make reductions to interest rates across all of their products and this has meant many existing and new borrowers are able to gain access to some of the lowest mortgage rates in history.
This is a great time for first-time buyers to borrow and we would be delighted to help you or your loved one make this a reality.
If you’d like to discuss how we can support your property purchase, call our senior broker, Danny O’Keeffe on 0208 364 3444 or click the schedule a call button below to book a time slot. We encourage you to schedule a call to explore the opportunities available to you.