www.iva.co.uk

BBC News has just announced that the last remaining 100% mortgage deal (Abbey) has just been withdrawn.

They went on to suggest that 95% mortgages might not be available for too much longer as well.

Halifax announced a 2.5% drop in house values in March, but they are still 1.1% up on the last year.

I noticed another article stating that mortgage lending is at a 16 year low.

John,

I have seen and heard various reports whereby the best deals are being reserved for those who are only looking for 75% LTV, i.e. if you are coming to the end of an existing deal then you are borrowing no more than 75% of the value on your new deal, or if you are a first time buyer then a deposit of 25%.

Obviously there are other deals available but at much less favourable terms, the effects of this credit crunch period are being felt all over it seems.

Regards.

Lenders have always given better rates to people with more equity in their houses ie under 75% loan to value (LTV). With the credit crunch, if you have a mortgage up for renewal you have to act very quickly as rates are still being pulled with little or no notice.

I agree Martin. I also think that if any Forum Member is going to need a Re-Mortgage soon for Equity Release, they should be talking to an Independent Whole of Market Mortgage Adviser NOW.