As a first time buyer, deciding which mortgage product is most suitable for you is one of the most important financial decisions you will ever make. Selecting the best value home loan can mean a difference of thousands of pounds in the years to come. It certainly pays to shop around for the best first time buyer mortgage rates. If you can put down more you will have access to better deals. As independent mortgage advisors we have access to all the products from all the banks, building societies and specialist lenders in the UK.
Good news for first-time buyers: 95% mortgage rates drop
A buy to let mortgage lets you borrow money to buy a house that you can then rent out. It s sometimes known as a landlord mortgage, and allows you to let your property to tenants, students or as a holiday home. You can compare the best deals using our comparison, which includes every buy to let BTL mortgage available in the UK. You can use a buy to let mortgage to invest in a property you rent out to someone else.
You cannot use a normal mortgage to do this. Investing with a buy to let mortgage could let you make money either through the rent you charge, by selling the property at a profit, or both. They work in the same way as residential mortgages and you can get them with fixed, tracker or variable rates. When you apply, the lender decides if you can afford the mortgage before they offer it to you. They base their decision on:. How much rent you will be able to charge on the property.
Your finances , including how much you earn, your credit record and how much you have saved for a deposit. Here are the eligibility requirements of buy to let mortgages so you can find out if you could get one. Buy to let mortgages can be more expensive than residential mortgages because they often come with:. Here is how buy to let mortgages work and how much they cost.
Here is how to get insurance for landlords to cover the risks of your buy to let investment. If you already own a buy to let property, remortgaging can save you money if you can find a cheaper deal. Yes, many buy to let mortgage are interest only. They let you pay back only the interest owed on your mortgage, not the balance; here is how they work.
Some lenders offer mortgages that last until you are 85, but others have strict age restrictions. Here is how to get a mortgage when you are older. Yes, most mortgages need a deposit, and buy to let mortgages usually require a higher amount than when you buy your own home. Yes, because you cannot use a residential mortgage for an investment property. The mortgages in this comparison can be used for buy to let. We include mortgages from every lender in the UK.
They are all from lenders regulated by the Financial Conduct Authority. Here is more information about how our website works. We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here. You do not pay any extra and the deal you get is not affected.
We don t sell your personal information, in fact you can use our site without giving it to us. If you do share your details with us, we promise to keep them safe. Our data experts check the companies we list are legit and we only add them to our comparisons when we re happy they ve satisfied our screening. We re totally passionate about giving you the most useful and up to date financial information, without any fancy gimmicks.
Initial rate term. Show me affiliated products first. Virgin Money 5 year fixed remortgage. Initial rate. Subsequent rate SVR. Overall cost for comparison. Additional information. Early repayment charge If you pay all or part of your mortgage early you will be charged: More information on this mortgage Less information on this mortgage.
NatWest 5 year fixed remortgage. Virgin Money 5 year fixed cashback mortgage. Virgin Money 5 year fixed cashback remortgage. Halifax 5 year fixed. HSBC 5 year fixed. Post Office 5 year fixed. NatWest 5 year fixed. Post Office 5 year fixed cashback mortgage. Halifax 5 year fixed cashback remortgage. Overall representative example. The overall cost of comparison 4. Initial rate 2.
Subsequent rate SVR 5. How to find a buy to let mortgage. How investing in property with buy to let works. Can I get an interest only BTL mortgage? What is the maximum age I can get a BTL mortgage? Do I need a deposit to get a mortgage? Do I need a specialist mortgage for a buy to let? Who do we include in this comparison? How do we make money from our comparison? Related guides. Bad credit mortgages Cashback mortgages Discount mortgages Flexible mortgages Guarantor mortgages Help to buy mortgages Interest only mortgages Interest only remortgages Lifetime mortgages Low income mortgage Mortgages for over 50s Mortgages for over 60s.
Mortgages for over 65s Mortgages for over 70s No deposit mortgages Offset mortgages Remortgage with bad credit Repayment mortgages Right to buy mortgages Second home mortgages Self employed mortgages Shared equity mortgages Shared ownership mortgages Variable rate mortgages. Why check with us? We don t sell your data We don t sell your personal information, in fact you can use our site without giving it to us.
We check out every company we list Our data experts check the companies we list are legit and we only add them to our comparisons when we re happy they ve satisfied our screening. We re a team of money experts We re totally passionate about giving you the most useful and up to date financial information, without any fancy gimmicks.
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Our 3 year fixed rate First Time Buyer mortgages with as little as a 5% deposit
A house isn t necessarily a home - it s who s in it that brings it to life.
No deposit mortgages were common before the global financial crisis, but tighter control of mortgage lending regulations put an end to that. Lenders will decide how much to lend you, and at what rates, based on their policy criteria and affordability checks, as they have to work out if you can afford the repayments. A larger deposit will make you less risky for mortgage lenders, and may help you get more competitive mortgage deals with lower interest rates. Mortgage affordability rules take into account not only how much you are earning, but how much you are spending, to see if you can cope with your planned mortgage repayments. And not just now, but also in the future if interest rates go up, or if your own financial or lifestyle situation changes. The kind of mortgage you can get depends on how lenders see you.
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95% and % mortgages
According to the latest data from the Bank of England, the average two-year fix at 95 per cent loan-to-value LTV fell to 3. In comparison, just a year ago a two-year fix would have cost 3. Go back to the start of the Bank of England s records, and a two-year fix would have cost 7. The fall in rates comes despite the rising Bank of England base rate, which mortgage rates are typically based on. Base rate rose for the first time in over a decade in November from 0. It then rose again to 0. Darren Cook, finance expert at comparison website Moneyfacts said: But Mr Cook added that it s not just falling rates that have given a boost to first-time buyers, but also the number of mortgages available - although this figure has fallen from its record high in August.
95% mortgage rates now cheapest in a decade
You are here: Find the best current contractor mortgage rates with Freelancer Financials. When compiling our best buy tables we choose the best mortgage deals from across the UK market, including deals that are exclusive to us. But it can be a nightmare knowing how to get it spot on. At Freelancer Financials our trusted advisers are on hand to guide you through the best deals. Your next step is to see what each lender needs to approve your mortgage application.
95% Loan To Value (LTV) mortgages
The loan-to-value ratio describes how much you are borrowing in relation to the price of your house. The loan-to-value ratio is a huge factor for lenders to decide how much they can lend you, and at what rate. The more you borrow the more you have to pay back and, crucially, the more interest you will eventually pay over the lifetime of the mortgage. Why are you looking for a mortgage? Please select Remortgaging Buy to let First time buyer Moving home. Repayment period years. Rate type Any Fixed Discounted Tracker. Payment type Repayment Interest only. How would you like to repay? Repayment Interest only.
95% LTV mortgages
Experts at making mortgages easy
A buy to let mortgage lets you borrow money to buy a house that you can then rent out. It s sometimes known as a landlord mortgage, and allows you to let your property to tenants, students or as a holiday home. You can compare the best deals using our comparison, which includes every buy to let BTL mortgage available in the UK. You can use a buy to let mortgage to invest in a property you rent out to someone else. You cannot use a normal mortgage to do this. Investing with a buy to let mortgage could let you make money either through the rent you charge, by selling the property at a profit, or both. They work in the same way as residential mortgages and you can get them with fixed, tracker or variable rates. When you apply, the lender decides if you can afford the mortgage before they offer it to you. They base their decision on:. How much rent you will be able to charge on the property. Your finances , including how much you earn, your credit record and how much you have saved for a deposit. Here are the eligibility requirements of buy to let mortgages so you can find out if you could get one. Buy to let mortgages can be more expensive than residential mortgages because they often come with:.
Searching all mortgages, the following best match your search criteria and are displayed in order of lowest initial rate. Credit will be secured by a mortgage on your property. Written quotations are available from individual lenders. Loans are subject to status and valuation and are not available to persons under the age of All rates are subject to change without notice. Please check all rates and terms with your lender or financial adviser before undertaking any borrowing.
Despite Brexit uncertainty, coupled with interest rate rises, a housing shortage and warnings of a property price slump, the proportion of people buying houses for the first time continues to go up. The backdrop against which this is happening is slow wage growth and rocketing house prices. To keep the momentum going, a growing number of mortgage lenders are slashing their rates to the lowest levels on record. On top of this, the range of choice for this type of mortgage is also expanding, with the number of different deals available now standing at , compared to in October As a result, more than ever before there are great opportunities to get lower cost deals. Nationwide is just the latest lender to cut its rates. Rates now begin at 2. The three-year fixed rate now starts at 3. Although these Nationwide rates are low, you can shop around for even cheaper deals. For example, Nottingham Building Society has a two-year fixed rate at 2. Though she warns that the product tracks the base rate and this may rise with future base rate increases.