Mortgage lenders are getting more strict on the percentage they will lend – and some have slightly increased some of their interest rates in recent weeks. The first time buyers – with a small deposit and usually borrowing under 500K – can still get some good deals.
Halifax are still offering a 1 year discounted tracker rate of just 4.55% which rises to 5.1% after the first year. This is available on loand upto and including 95% of the value of the property.
There are still some good 2 and 3 year fixed rates too : Bank of Ireland and ICS have a 2 year fix at 4.65% – which then goes to a tracker of ECB plus 1.25%. Available on upto 92% LTV.
Get them while you can.
NIB still have the best rates on LTVs of 80% or less.