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5% Mortgages been reduced due to Covid
Jonesy657
Posts: 1 Newbie
Good Morning.
I had a mortgage in principle sorted before the lockdown based on a 5% deposit. Natwest have now said they have pulled these 5% deals and you need at least 20-40% deposit. Are there still 5% deals out there to be had at competitive rates or shall I wait until banks release these lower deposit mortgages again?
Thank you.
I had a mortgage in principle sorted before the lockdown based on a 5% deposit. Natwest have now said they have pulled these 5% deals and you need at least 20-40% deposit. Are there still 5% deals out there to be had at competitive rates or shall I wait until banks release these lower deposit mortgages again?
Thank you.
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Comments
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Looking at the house price trajectory following Nationwide's release today, we may be waiting a very long time for any 95% mortgages
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If you go on Uswitch for example you can compare mortgages which are 95% LTV, there isn't as much choice as before but there is still some out there1
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Nationwide still offer 95% mortgagesDDS958 said:Looking at the house price trajectory following Nationwide's release today, we may be waiting a very long time for any 95% mortgages1 -
Will it be harder to be accepted for now due to covid? We had a DiP that runs out tomorrow with Halifax and the product isn't available at the moment, what would the chances of us being accepted for a 95% mortgage for Nationwide?Deleted_User said:
Nationwide still offer 95% mortgagesDDS958 said:Looking at the house price trajectory following Nationwide's release today, we may be waiting a very long time for any 95% mortgages0 -
I would suggest doing the DIP for Nationwide - check if it's a soft or hard search. If you use a broker they'll be able to give you a good idea of their criteria/get you the best deal1
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Usually best advice but unfortunately nationwide 5% is direct only. Sucks but at least its an optionCatwales said:I would suggest doing the DIP for Nationwide - check if it's a soft or hard search. If you use a broker they'll be able to give you a good idea of their criteria/get you the best deal0
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