More Mortgage deals available

andys15

Just had a call from Natwest, asking me if I still required a mortgage, as I had left my details with them in Jan. I told them maybe, (even though I dont), and we discussed the ones available. I was quite surprised that they had 95% mortgages fixed for 5 years at about 6.5%. After the call I used MFORM to see what other mortgages were available, and even though there was no where near the amount of mortgages availablee than there were in Jan, there were more available than there were in Aug. I am talkingg about 95% mortgages here.

andys15

in fact natwest one is 6.64% fixed for 5 years with a £999 product fee. I think that is quite a good deal considering. Peace of mind for 5 years. Does Natwest know something we dont.

HammersFan

There seems to be a growing expectation that BoE rates will go very low (hence the re-pricing upwards of lots of BoE linked deals). I agree peace of mind is worth having. There could well be lower deals around though quite soon.

andys15

HammersFan wrote: »

There seems to be a growing expectation that BoE rates will go very low (hence the re-pricing upwards of lots of BoE linked deals). I agree peace of mind is worth having. There could well be lower deals around though quite soon.

do you think 100% mortgages will be back. I am about 95% sure that Natwest did not have 95% mortgages available recently. It seems abbey,rbs halifax and a few others nowhave them available, but did 95% ever get scrapped by the main lenders, I cant remember, but I was certainn they did.

puddy

i thought 90% was the most you could get recently

ad9898_3

More maybe available but speaking as a FTB who the hell wants one in a falling market ??, not me for sure, good news for people already with an albatross their neck though I guess.

MissMoneypenny

I think there will be a lot of 95% mortgages available (and even 100% mortgages available) when the house prices eventually stop dropping and are showing definite signs of starting to rise again, however many years that may take to do so.

The best deals will be for the good deposits, but I think that most will be able to get a mortgage as long as they have a job and a good credit record.

andys15

ad9898 wrote: »

More maybe available but speaking as a FTB who the hell wants one in a falling market ??, not me for sure, good news for people already with an albatross their neck though I guess.

ok I am not trying to talk up the market. but the best mortgage deal I have found now is HSBC 5 year fixed 6.44% with a £734 arrangement fee. There are 20 mortgages at 95% available to me.
If a house previously on the market for £110000 is now available for £80000, and 1 single FTB wants it. It would be only a £4000 deposit, just over 3 times average wage, low arrangement fee. The price reductions over thh last 6 months, a decent mortgage product, I wouldn't be surprised to see people having a sniff.

Generali

andys15 wrote: »

ok I am not trying to talk up the market. but the best mortgage deal I have found now is HSBC 5 year fixed 6.44% with a £734 arrangement fee. There are 20 mortgages at 95% available to me.
If a house previously on the market for £110000 is now available for £80000, and 1 single FTB wants it. It would be only a £4000 deposit, just over 3 times average wage, low arrangement fee. The price reductions over thh last 6 months, a decent mortgage product, I wouldn't be surprised to see people having a sniff.

So what you're saying is that when prices have fallen by 30% you think some FTBs will start to consider buying houses.

andys15

Generali wrote: »

So what you're saying is that when prices have fallen by 30% you think some FTBs will start to consider buying houses.

What I am saying is that with 95% mortgages available again (when did they become available), and the house prices as they are today compared with 6 months ago, low arrangement fees compared to a few months ago, stamp duty threshold raised, deals to be had everywhere, as some sellers are obviously desperate, a buyers market like there has never been for years. I wouldn't say it was a terrible time to buy.

meanmachine_2

andys15 wrote: »

do you think 100% mortgages will be back. I am about 95% sure that Natwest did not have 95% mortgages available recently. It seems abbey,rbs halifax and a few others nowhave them available, but did 95% ever get scrapped by the main lenders, I cant remember, but I was certainn they did.

Abbey have 95% mortgages available again?

Can't seem to find any on their website...