We work with trusted brokers to give you access to a panel of leading lenders well placed to meet your needs.
If you are looking to borrow 80%, 90% or even 100% of the value of your property, Proper Finance can assist you in getting the best rates for an LTV mortgage.
You might be a first-time buyer or existing homeowner and may not have a substantial deposit saved, or even any deposit at all.
We have options available for your mortgage, whatever your financial history, and we can help check your eligibility. Get started on your application today!
An 80% or 90% loan-to-value (LTV) mortgage is a type of home loan where you borrow a percentage of the property’s value from a lender, while providing a deposit equal to 20% or 10% of the property’s value, respectively.
The LTV ratio represents the loan amount as a percentage of the property’s appraised value or purchase price.
A 100% LTV mortgage is therefore is a loan taken out from a bank for the entire cost of the property. This is also known as a no-deposit mortgage and for this kind of mortgage
LTV mortgages come in different types that you might be offered:
Fixed Rate: Interest rate stays constant for a set period, providing predictable monthly payments.
Variable Rate: Interest rate can change over time, tied to a benchmark like the lender’s standard variable rate (SVR). Payments may fluctuate.
Tracker: Interest rate tracks an index, such as the Bank of England base rate, plus a fixed percentage. Rate adjusts with changes in the tracked index. Attractive when rates are low.
In order to be eligible for an 80%, 90%, or 100% LTV mortgage, you must meet specific eligibility criteria.
The most important requirement is having the necessary deposit amount. Additionally, lenders may have additional criteria that must be fulfilled, which can include:
Choosing to use a mortgage broker grants you access to a diverse selection of rates offered by multiple lenders for all credit histories.
Their impartial advice can help you to make the best choice by evaluating the available options throughout the entire mortgage market.
Mortgage brokers are driven to secure the best rates on your behalf since they earn a commission only when you accept an offer.
To repay your mortgage, you make regular payments to the lender. Each payment reduces the outstanding loan balance and covers the accrued interest.
The repayment schedule is based on factors like the loan term, interest rate, and repayment frequency, which are agreed upon with your lender.
Timely payments gradually pay off the mortgage, making you the full owner of the property.
If you find yourself unable to meet a repayment on your mortgage, it is important to take immediate action to address the situation. Failure to make timely mortgage payments can have serious consequences:
When evaluating 80%, 90% or 100% LTV mortgages, it’s important to consider the pros and cons.
These mortgages offer certain advantages such as allowing for a lower upfront deposit, making homeownership more accessible.
However, higher LTV ratios can result in higher interest rates, larger mortgage payments and potentially longer repayment periods. A lower deposit means less equity in the property, which could limit refinancing options or impact selling the property in the future.
If you are able to provide a higher deposit, for example you are looking for a 10%, 20%, 30% LTV Mortgage, Proper Finance can assist you in finding even more favourable rates.
We want to help our customers find the best mortgage deal for them in the most cost-effective way possible. This is the reason why there are no upfront charges when filling in an application with us. Our online platform is free to use, and our application process quick and easy to fill out.
Once you have decided the best type of mortgage to fit your current financial needs, you can apply simply via our online form.