low deposit mortgage

low deposit mortgage

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Jargon Buster

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low deposit Mortgage


Click Here to get a low deposit mortgage quote

A low deposit mortgage is currently a very difficult mortgage to find, given the way the banks are looking for borrowers have more than just a low deposit. Deposits of 40% are being asked for by some of the bigger banks and lenders before they will offer a mortgage at a reasonably low interest rate. However, if the borrower can afford to pay the higher interest rates that are being insisted on for someone with only a small or low deposit, then it may be possibly to obtain an agreement, providing all the boxes are ticked that the lender requires.

Normally this will mean that to get a low deposit mortgage you will need a spotless credit profile with a good work record.

In other words, low deposit mortgages are likely to be available to only those prospective borrowers who can show a clean credit search, and an employment record that is "bankable"

There is a huge demand for low deposit mortgages, and this is made up mainly of first time buyers who only have a low deposit or access to a low level of savings, due in part to the need to pay out rent while the deposit is saved up.

The main reason behind the sudden absence of low deposit mortgages is the drop in property values across the UK.

Until the decline in house prices stops, a low deposit mortgage will be a very difficult mortgage to find.

However, mortgage brokers are particularly well placed to spot low deposit mortgages when they appear on the market, and can often know in advance which lenders are about to launch such a low deposit mortgage.

So, if you are unable to save more than just a low deposit, or if you simply want know when a low deposit mortgage appears, in order to move quickly, then fill in the enquiry form and state your request for a low deposit mortgage.

The brokers can then conduct a search and see what's available at this time.
 

CLICK HERE and send your details for a low mortgage enquiry.


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