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what % of mortgage do I need these days ?
gemmaking
Posts: 422 Forumite
5 % deposit mortgages were common in 2005, but then banks tightened their lending.
What % is common these days, as a minimum %,
for average clients, with 'good' credit history. (not perfect history)
which might= an expensive monthly repayment rate,
but just wanting to know what % rate that the majority of lenders commonly these days... accept as a deposit,
What % is common these days, as a minimum %,
for average clients, with 'good' credit history. (not perfect history)
which might= an expensive monthly repayment rate,
but just wanting to know what % rate that the majority of lenders commonly these days... accept as a deposit,
0
Comments
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Most lenders I think for good rates require at least 20-25% deposit.0
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Spotless credit history - 90%, maybe 95%.
Good credit history - 70% - 80%
Poor history - 60% or less.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I managed to get 90% 3 years ago and i'm still seeing a few 90% deals. You're always better trying to get nothing less than a 20% depositMFW - <£90kAll other debts cleared thanks to the knowledge gained from this wonderful website and its users!0
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As the governments Funding for Lending scheme gradually starts to free up the mortgage market, we are starting to see more and more good value FTB mortgages come on stream:
http://moneyfacts.co.uk/compare/mortgages/first-time-buyer/0 -
A good credit history you can probably go to 85% ltv, depending on the blip and how long ago it was you might be able to get to 90%.I am a Mortgage AdviserYou 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.0
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