Choosing the best 85% LTV Mortgage

Looking to compare the best mortgage with a 15% deposit? It's important to not go on rate alone. Take a number of additional factors into account including any initial fees or charges that need to be paid, any flexible features and whether there are any incentives included too. View today's best rates below. 

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Maximum Loan to Value

First Time Buyers
Second Time Buyers
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Maximum Loan to Value
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First Time Buyers
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Maximum Loan to Value
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Incentives
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Maximum Loan to Value

First Time Buyers
Second Time Buyers
Remortgage
Minimum Loan
Maximum Loan

Charges and Fees

Early Repayment Charge
Exit Fees

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Maximum Age
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Available To

Flexible Features

Underpayments
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APRC
Product Fees
Initial Monthly Payment
Total Repayable Over years
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Maximum Loan to Value
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Incentives
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Maximum Loan to Value

First Time Buyers
Second Time Buyers
Remortgage
Minimum Loan
Maximum Loan

Charges and Fees

Early Repayment Charge
Exit Fees

Application Criteria

Maximum Age
Minimum Income
Available To

Flexible Features

Underpayments
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APRC
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Maximum Loan to Value

First Time Buyers
Second Time Buyers
Remortgage
Minimum Loan
Maximum Loan

Charges and Fees

Early Repayment Charge
Exit Fees

Application Criteria

Maximum Age
Minimum Income
Available To

Flexible Features

Underpayments
Overpayments
Payment Holidays
Draw Down
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Incentives

Revert Rate

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85% LTV mortgages explained

At a glance

  • 85% LTV mortgages are available if you have a 15% deposit or 15% equity in your current home.
  • The best fixed rate mortgage deals for 85% LTV mortgages are typically lower than those available for 90% or 95% LTV mortgages.
  • 85% LTV is a popular option for those looking to remortgage, move to a larger property or those who have seen their current LTV improve from higher levels.

The advantages of a 85% LTV mortgage

Lower interest rates. Because you're putting up a reasonable amount of money, interest rates for 85% LTV mortgages are lower than those with higher LTV.

New build availability. Lenders typically require at least an 85% LTV for new build properties, so you'll be able to consider these properties if you have a 15% deposit or equity available.

The disadvantages of a 85% LTV mortgage

The potential to cost you more. Be sure to calculate your LTV - a greater deposit reduces your LTV and as a result can often reduce your initial mortgage rate. LTVs tend to work in multiple of 5 or 10, so if you already have the 20% deposit/equity you need to apply for an 80% LTV mortgage, you may want to consider waiting and increasing your deposit to 25% to access a lower rate mortgage.

Open to alternatives? Compare 80% LTV mortgages for the possibility of better rates and 90% LTV mortgages to reduce the deposit required. 

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