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HALIFAX 95% - the big guns have landed

24

Comments

  • lonibra
    lonibra Posts: 365 Forumite
    100 Posts Name Dropper
    Given the average FTB house price being around £200,000, 5% is £10,000. A whole lot better than than the 10-15% (£20,000-30,000) minimum required not more than a month or two ago.
  • stunned to see the interest rates so high, I'm going to be paying less than with adverse credit with an adverse lender.
  • ukri
    ukri Posts: 139 Forumite
    100 Posts Name Dropper
    stunned to see the interest rates so high, I'm going to be paying less than with adverse credit with an adverse lender.
    At 95% LTV?
  • mrlegend123
    mrlegend123 Posts: 194 Forumite
    100 Posts Name Dropper
    LTI of 4.5 for buyers is the limiting factor at the end of the day. I don't see house prices shooting up due to 4.5 LTI. 
  • lonibra
    lonibra Posts: 365 Forumite
    100 Posts Name Dropper
    stunned to see the interest rates so high, I'm going to be paying less than with adverse credit with an adverse lender.
    I'm stunned that you're stunned :)

    Halifax 90% LTV no-fee is 3.37%. 95% LTV is 4%. Is a 0.63% jump really that much?
  • payless
    payless Posts: 6,957 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    As a premium.. yes.  , 0.63% is higher than the total rate on my mortgage . 
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • K_S
    K_S Posts: 6,908 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 16 April 2021 at 7:56PM
    lonibra said:
    stunned to see the interest rates so high, I'm going to be paying less than with adverse credit with an adverse lender.
    I'm stunned that you're stunned :)

    Halifax 90% LTV no-fee is 3.37%. 95% LTV is 4%. Is a 0.63% jump really that much?
    @lonibra The last time around (old H2B mortgage guarantee scheme), the difference was about 1% I believe (though at higher interest rates overall).
    I would expect 95% rates to quickly soften. Natwest 95% fee-free 2yr fix rate will be 3.9% so the squeeze has already started.

    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. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    payless said:
    As a premium.. yes.  , 0.63% is higher than the total rate on my mortgage . 
    that must be from the days of good base rate trackers  and follow on rates..


    The cheapest recent rates have been ~1% for 60%LTV 2y fix and comes with fees

    top notch borrowers can expect 1%-1.5% with fees,  ~1.5% up for no fees   as the new normal
  • ukri said:
    stunned to see the interest rates so high, I'm going to be paying less than with adverse credit with an adverse lender.
    At 95% LTV?
    No definitely not, I've only just recovered from buying at 95% in 2008, we completed 2m before the financial crash, was in over 20k of negative equity before our 1st mortgage payment.
  • payless
    payless Posts: 6,957 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 17 April 2021 at 5:20PM
    payless said:
    As a premium.. yes.  , 0.63% is higher than the total rate on my mortgage . 
    that must be from the days of good base rate trackers  and follow on rates..


    The cheapest recent rates have been ~1% for 60%LTV 2y fix and comes with fees

    top notch borrowers can expect 1%-1.5% with fees,  ~1.5% up for no fees   as the new normal
    Yes late 2007...    O.36% over base for term, ( at time base was 5.75) ,  I decided it was better than short term discounts at the time.....   I missed out on the +0.17 deal, that I got some clients at the time... still get Christmas cards :) 
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
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