Interest rate

headsashed

Whats a decent interest rate for a mortgage of about 10%, obviously the higher the deposit the better the interest rate, and for a decent deposit you can get 2 or 3%. What rate would people expect for a lower deposit?

firstaspect

I got a fixed rate of 4.69% with a 15% deposit recently.

TrickyDicky

Expect to pay between 5-6% for a fix or around 4.5% (currently) for a tracker.

Senior_Paper_Monitor

The rate rarely drops below the 60% LTV mark - the lender would claim that admin costs on the small amount of loan would prevent this being viable. There are fixed rates generally available at well below 3% fixed at the moment for low loan to value (and even lower trackers) - how much lower can one expect to go !!

Lack of fees/charges (and possibly flexibility) will almost certainly be more important to you than the headline rate.

beecher2

SPM, I think the OP is talking about 90% LTV rather than 10%

headsashed

beecher2 wrote: »

SPM, I think the OP is talking about 90% LTV rather than 10%

Yes sorry, i have a deposit which is just over 10% of the asking price, so my mortgage would be between 85-90% of the asking price.

Senior_Paper_Monitor

Apologies, read it (and responded) in a hurry while awaiting the arrival of the compliance man ! It was the "mortgage of about 10%" that fooled me - but it was made clearer later on.

#3 answers your questions properly and as accurately as possible with the limited info available.

headsashed

Thank you, sorry for the confusion