Current 95% First Time Buyer Mortgages

Neil12_2
Neil12_2 Posts: 6 Forumite
in Mortgages & endowments
What is the best 95% LTV mortgage at present (MAY2009) for a first time buyer ?
«13

Comments

  • Kavanne
    Kavanne Posts: 5,093 Forumite
    There aren't any?
    Kavanne
    Nuns! Nuns! Reverse!
    'I do my job, do you do yours?'
  • allan673
    allan673 Posts: 1,213 Forumite
    First Post First Anniversary Combo Breaker
    dont know of any 95% mortgages now??? theyve all gone.

    the best 85% i know is halifax 5.71% 5 yr fix, although there are a few 90% mortgages available with higher rates still.
  • Neil12_2
    Neil12_2 Posts: 6 Forumite
    Is the one offered by Yorkshire Bank any good ?
  • poppy10_2
    poppy10_2 Posts: 6,575 Forumite
    Name Dropper First Post First Anniversary
    http://www.money.co.uk/mortgages/95-mortgages.htm
    poppy10
  • happybroker
    happybroker Posts: 1,301 Forumite
    wasn't aware they did one neil, if they ar e doing it will be good as it is probably the only one.
    Happily an ex mortgage broker!
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    I believe HSBC will do 95% for graduates.

    Why anyone would want a 95% purchase in today's market is beyond me.
  • riles
    riles Posts: 14 Forumite
    _Andy_ wrote: »
    I believe HSBC will do 95% for graduates.

    Why anyone would want a 95% purchase in today's market is beyond me.

    95% today will probably be a lot less risky than 95% in September 2007 turned out to be.
  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    First Anniversary
    The overwhelming majority of the 95% mortages shown on the link posted by poppy10 are for existing customers only, so would be of no use to a first-time buyer.
    "You were only supposed to blow the bl**dy doors off!!"
  • Neil12_2
    Neil12_2 Posts: 6 Forumite
    Well I've found out more about the Yorkshire Bank . They do still offer the 95% LTV mortgage for First Time Buyers @ 6.99% fixed over three years then switching to their std variabe rate. You can also make overpayments but they have to be regular. To me 6.99% is till low in comparison to 10yrs ago etc and in comparison to what it will be in a year and a half when inflation takes hold of the economy. I must add though that we're not taking a big gamble in buying a 3 bed semi for just over £100k.

    I'm not sure about other first time buyers but it's the requirement for large deposits that I think is stalling the amount of FTB's n the market. If the banks and economy are now recovering as the FTSE seems to suggest, then the banks maybe should start offering such 95% deals again but pay more heed to their applicants particular circumstances...for security of employment etc.
  • spectre
    spectre Posts: 138 Forumite
    allan673 wrote: »
    dont know of any 95% mortgages now??? theyve all gone.

    the best 85% i know is halifax 5.71% 5 yr fix, although there are a few 90% mortgages available with higher rates still.


    just for reference, Natwest do a 5.49% fixed for 5years or 5.29% fixed for FTB`s with 85%LTV
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343K Banking & Borrowing
  • 250K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards