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Michelle Monck

Michelle Monck

Consumer Finance Expert
Published: 28/05/2020

There are more signs of the mortgage market starting to stabilise as Clydesdale/Yorkshire Bank brings back its 90% LTV mortgage for first time buyers. The three-year fixed rate mortgage has an initial rate of 2.39%, reverting to 4.55%. This mortgage has no product fee, free valuations and offers £250 cashback.

However, those looking for a mortgage with only a 5% deposit are likely to still face lengthy delays as mortgage lenders still require physical valuations at 95% LTV. Research from Moneyfacts shows that only HSBC currently offers a 90% LTV mortgage that will use automated valuations for both house buyers and those remortgaging. Aldermore Mortgages and Post Office Money offer mortgages at 85% LTV for those buying a home or wanting a remortgage, with Accord (Yorkshire Building Society’s brand for mortgage brokers only) offering remortgage only.

Which lenders offer automated valuations for higher LTV buy-to-let mortgages?

Those looking to remortgage or  a purchase a buy-to-let property will find the maximum LTV with an automated valuation available for either is from the Post Office Money at 85%. Landlords at 80% and 85% LTV can approach the Halifax or Newcastle Building Society.

When will the backlog of valuations clear?

Data published by Zoopla estimates that 370,000 house purchases have been delayed because of the Coronavirus lockdown. Of these, it is estimated that at least 60,000 will require a physical valuation. While the UK lockdown restrictions now allow for estate agents and surveyors to access properties for the purpose of house sales and valuations. Clearing the backlog is not likely to be a fast process.
The average age of a surveyor in the UK is 55 according to The Royal Institute for Chartered Surveyors (RICS). This means many surveyors fall into the most vulnerable age group at risk of serious complications from Coronavirus. In addition, according to Richard Sexton, director at the surveying firm, esurv those surveyors that have been furloughed are likely to brought back in phases.

Get help from a mortgage broker

In the meantime, those looking to purchase a new home or needing to remortgage can access higher LTVs and increase the speed of completing a mortgage by selecting a lender that will use an automated valuation on the property.

A mortgage broker has the information to hand and can help guide buyers to find the best mortgage for them. Read our guide to find out more about how mortgage brokers can help buyers find a mortgage.


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. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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