Research compiled by Moneyfacts.co.uk has shown the average rate for a 90% loan-to-value mortgage has fallen below 6.00% for the first time since March 2008. This will be pleasing news to first time buyers, who have struggled over the past few years to raise a large enough deposit for their first home. Here is a selection of some of the best higher loan-to-value fixed rate mortgage products, offered by familiar high street lenders.
HSBC's two year fixed deal offers a rate of 5.39% to 31 July 2013. The maximum loan-to-value is 90% and is available to first, second time and remortgage buyers. All customers can borrow up to £400,000. An arrangement fee of £999 is payable. Free legal fees are offered to remortgage borrowers.
This two year fixed deal, available to first and second time buyers, offers a rate of 5.55% to 2 July 2013. The maximum loan-to-value is 90% and customers can borrow between £6,000 and £250,000. A booking fee of £499 is payable. Incentives of a free valuation and a £250 rebate on completion are offered to all borrowers. There is also the option to make overpayments of up to 10% of the outstanding balance.
This two year fixed rate deal from Northern Rock offers a rate of 5.65% to 1 September 2013. The maximum loan-to-value is 90% and customers can borrow up to £500,000. No fee is payable. Borrowers have the option to make overpayments of up to 10% of the outstanding balance.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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