95% LTV mortgages - 5% deposit mortgages - 2021

K_S

Aldermore withdraws its 95% products and TSB enters the market.

• TSB - 5 year fix, 10 year fix, Available for first-time buyers and home-movers

• 5 year reducing-rate product (FTB only) - purchases only, houses and bungalows only, no new build, LTI cap of 4.25x (up to 40k income) and 4.49x otherwise
  

boxer234

There doesn’t seem to be a lot of choice for non FTB I have previously owned do you think this will change ? 

K_S

boxer234 said:

There doesn’t seem to be a lot of choice for non FTB I have previously owned do you think this will change ? 

@boxer234 There is a decent smattering of non-FTB products as well and from experience the FTB-only deals will quickly be extended to non-FTBs as well.

boxer234

K_S said:

boxer234 said:

There doesn’t seem to be a lot of choice for non FTB I have previously owned do you think this will change ? 

@boxer234 There is a decent smattering of non-FTB products as well and from experience the FTB-only deals will quickly be extended to non-FTBs as well.

Thank you got a broker we are just playing the waiting game. 

Capri84

K_S said:

Aldermore withdraws its 95% products and TSB enters the market.

• TSB - 5 year fix, 10 year fix, Available for first-time buyers and home-movers

• 5 year reducing-rate product (FTB only) - purchases only, houses and bungalows only, no new build, LTI cap of 4.25x (up to 40k income) and 4.49x otherwise
  

Why would Aldermore withdraw products? Not likely to have ever used them but interesting to see lenders withdraw just as others are returning to market

K_S

boxer234 said:

K_S said:

boxer234 said:

There doesn’t seem to be a lot of choice for non FTB I have previously owned do you think this will change ? 

@boxer234 There is a decent smattering of non-FTB products as well and from experience the FTB-only deals will quickly be extended to non-FTBs as well.

Thank you got a broker we are just playing the waiting game. 

@boxer234 I have a few clients who are doing the same. Out of professional interest, what are the aspects that you are waiting to see before proceeding?

K_S

Capri84 said:

K_S said:

Aldermore withdraws its 95% products and TSB enters the market.

• TSB - 5 year fix, 10 year fix, Available for first-time buyers and home-movers

• 5 year reducing-rate product (FTB only) - purchases only, houses and bungalows only, no new build, LTI cap of 4.25x (up to 40k income) and 4.49x otherwise
  

Why would Aldermore withdraw products? Not likely to have ever used them but interesting to see lenders withdraw just as others are returning to market

@capri84 Aldermore had always said it was for a limited time only. Probably just to test the waters and check if everything is working as it should at their end. I'm sure they'll be back soon.

boxer234

K_S said:

boxer234 said:

K_S said:

boxer234 said:

There doesn’t seem to be a lot of choice for non FTB I have previously owned do you think this will change ? 

@boxer234 There is a decent smattering of non-FTB products as well and from experience the FTB-only deals will quickly be extended to non-FTBs as well.

Thank you got a broker we are just playing the waiting game. 

@boxer234 I have a few clients who are doing the same. Out of professional interest, what are the aspects that you are waiting to see before proceeding?

I think we were waiting on more products coming out so greater choice.  I was following the brokers advice.  

alyssssa

I'm researching the information and trying to figure out if 95% LTV mortgages will be available for properties worth 500k-600k. The Gov Scheme is supposed to cover properties up to 600k but all of the 95% mortgages released so far all seem capped at 500k. 

If it's the 19 April they are being released then I'll guess we'll have to wait and see...

K_S

alyssssa said:

I'm researching the information and trying to figure out if 95% LTV mortgages will be available for properties worth 500k-600k. The Gov Scheme is supposed to cover properties up to 600k but all of the 95% mortgages released so far all seem capped at 500k. 

If it's the 19 April they are being released then I'll guess we'll have to wait and see...

@alyssssa The cap is usually for the loan size, not the house price. For example, the TSB cap is at 500k loan size. Not a huge difference at 95% LTV tbf but theoretically that would cover a house price range from 526k to around 550k or so.