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.
23+ years in debt advice
I do not post for anyone other than myself
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.
Independent Mortgage and Financial Advice from:
Martin Law BSc (Hons) CeMAP
Financial Planning Consultant