Best 5yr fixed rates at 25% or lower LTV?

iandv

Hi

What are the best products on the market for a 5 year fixed rated with a maximum of a 25% deposit?

Many Thanks

getmore4less

Title needs fixing thats a 75% LTV or higher

Lynsey

Why 5 years, is it for stability or are you expecting interest rates to rise (they will at some time)??
Is it BTL or residential (cheaper rates for residential)??
Leeds BS have one for 3.89% fixed for 5 years, obviously penalty charges for early repayment and other things to take into consideration, but it is a starter.

Without more info, it's just guess-work. Talk to an independent morgage/financial advisor.

Lynsey

blueberrypie

"Best products" isn't really answerable without a lot more information than you've given. You can find the best *rates* at sites like comparethemarket.com, but not all products are suitable (or even available) for all borrowers, so you need to do more than just look at rates.

iandv

"so you need to do more than just look at rates."

What else should you look at? For example what I am looking at is a 5 year fixed rate mortgage at 75% or 80% LTV with no extended tie in at the end of the 5 year term, also portable would be good.

The best rate I have found is with Yorkshire BS at 3.99% with £999 fees, any others?

blueberrypie

iandv wrote: »

"so you need to do more than just look at rates."

What else should you look at? For example what I am looking at is a 5 year fixed rate mortgage at 75% or 80% LTV with no extended tie in at the end of the 5 year term, also portable would be good.

The best rate I have found is with Yorkshire BS at 3.99% with £999 fees, any others?

You need to factor in the fees, whether you plan to overpay, what charges will apply if you need to get out of the mortgage - you mention that portable would be good - porting a mortgage is never guaranteed, and you could find that your lender won't approve a mortgage on your new property, which leaves you with the choice of a) moving, getting another mortgage and paying off your current one + any ERC, or b) not moving, and keeping your current mortgage. You need to know whether you are likely to be approved by a particular lender - e.g. some lenders will accept an applicant with a couple of late payments or even a settled default, others will reject the same applicant. Some lenders will take benefits income into account, some won't. Some lenders will reduce affordability based on the number of dependents you have, some won't. You need to know whether the lender will lend on a property like yours - some lenders won't lend on properties over shops, or require higher deposits on new builds, for example. You don't mention if you're looking at a buy-to-let, or an interest-only mortgage, or whether you might want to take additional borrowing as your principal reduces...