HALIFAX 95% - the big guns have landed

lonibra

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.

stevenbecca

stunned to see the interest rates so high, I'm going to be paying less than with adverse credit with an adverse lender.

ukri

stevenbecca 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?

mrlegend123

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

stevenbecca 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?

payless

As a premium.. yes.  , 0.63% is higher than the total rate on my mortgage . 

K_S

lonibra said:

stevenbecca 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.

getmore4less

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

stevenbecca

ukri said:

stevenbecca 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

getmore4less said:

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