95% Mortgages and who can get them? It's not just new build!
Who is eligible for a 95% mortgage, which lenders are currently offering them?
Months after withdrawing nearly all their highly leveraged mortgage products, lenders have ventured back into low-deposit lending ahead of the government’s mortgage guarantee scheme.
Yorkshire Building Society become the first to launch a deal through brokers in mid-March. It’s since been joined by Coventry, Bank of Ireland, TSB and More. Coventry’s offer is currently the best, charging 3.89% interest, fixed for five years, with a £999 product fee, which you can either pay upfront or add to the loan.
(subject to change)
While lenders named above aren’t directly taking advantage of the government’s scheme some have indicated that they wouldn’t have ventured into the 95% market without other lenders joining them, in order to manage demand.
WHO CAN HAVE THEM ?
For most of the lenders offering at the moment First time buyers are a priority, however they are also available to HomeMovers.
We would recommend discussing your full situation with one of our experts Brokers and they will be able to help you arrange the right mortgage for you.
Property is selling fast and one of our partners, Taunton Property Centre have seen a surge of activity in recent weeks with some properties selling within 24 hours.
Don't miss out, Get in touch with us and we can make sure you are prepared financially to get the home of your dreams as soon as you see it.