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<4% APR for 88% LTV mortgage?

Wantaflat
Wantaflat Posts: 32 Forumite
Ninth Anniversary Combo Breaker
in Mortgages & endowments
Hi all you mortgage savvy folks, I'm looking to get a 88% LTV mortgage end of the year when I should hopefully be at my financial goal. I've been considering the monthly cost of repayments and it's actually looking higher than what I'm paying in rent now but then again my rent is super cheap right now so I could definitely afford mortgage payment higher than my current rent.

Key question: Is any lender out there offering ca. 88% LTV mortgages at less than 4% interest rate? Based on my calculations I definitely wouldn't want to give a lender more than 4% and would ideally like to be around the 3.5%-3.9% APR mark - possible or am I dreaming? Any tips and thoughts most welcome!

Thanks to anyone who answers, in advance!!

Comments

  • ACG
    ACG Posts: 24,746 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    your dreeaming at 3.5%.
    There are a couple but not many lenders out there - HSBC being the cheapest but also the strictest criteria.
    Yorkshire and Darlington Building societies also come in at 3.99%.

    Your shoud probably speak to a mortgage advisor, there are a couple of other deals out there but not many.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Wantaflat wrote: »
    Based on my calculations I definitely wouldn't want to give a lender more than 4% and would ideally like to be around the 3.5%-3.9% APR mark -

    Keep saving. Even then you may miss the boat as rates are heading upwards.......
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    Dreaming - you cannot quite barter in the mortgage market - yet!

    Just be mindful when chasing the best buy rates, they tend to be more selective so you need to be super appealing and ensure you do not miss a payment on anything from now on in...

    Good luck
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    A bigger deposit will open more doors. 15%+
This discussion has been closed.
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