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FTB mortgage offers these days?
born_again_saver
Posts: 72 Forumite
I know, I know, it's the worst ever time to buy a house and all that jazz, but I'm curious!
What kind of mortgage offers are first time buyers are getting approved these days, i.e. what are the maximum LTV and income multiples being offered? And at what sort of interest rate/fix length/fee?
What kind of mortgage offers are first time buyers are getting approved these days, i.e. what are the maximum LTV and income multiples being offered? And at what sort of interest rate/fix length/fee?
Never mind the house prices, I'm saving a deposit.
[STRIKE]£20,000[/STRIKE] £15,100.82 still needed - 24.50% saved so far!
Buying and moving costs: £3-5k - will save this after the £20k
Aiming to buy my own place by the end of 2011
[STRIKE]£20,000[/STRIKE] £15,100.82 still needed - 24.50% saved so far!
Buying and moving costs: £3-5k - will save this after the £20k
Aiming to buy my own place by the end of 2011
0
Comments
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These days most lenders are doing 90% max LTV, and have reined in income multiples to around 5x max. There are a few exceptions. Mortgage products are being withdrawn by the hour, so if you are determined to buy, it's best to lock in an agreement sooner rather than later.poppy100
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Ive just bought my first place. Mortgage got verbally approved today by the underwriters.
Mortgage was with the Post Office(underwritten by Bristol And West), 5.34% fixed for 3 yrs at 95% max LTV. (we done 94% LTV). £399 Arrangement Fee.
I think their income multiplier for a joint application is 3.75%
The best deal by far for my level of deposit. The next best rate for a 95% LTV was 5.6% approx.
Most of the high LTV competitive deals are with bristol and west just now. It will be interesting to see what the next rate decrease throws up in the morgage market. I suspect very little will change in terms of mortgage rate reductions. if anything like the last rate decrease, the mortgage rates went up!0
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