Mortgages - good news for borrowers with small deposits
If you’re looking for a mortgage but don’t have much money saved for a deposit, we have some good news for you...
If you're looking for a mortgage but don't have much money saved for a deposit, we have some good news for you.
Last month, over 18% of all mortgages approved by lenders were to borrowers with smaller deposits - the highest proportion we've seen since October 2008.
According to chartered surveyors e.surv, more lenders were prepared to accept buyers with deposits of 15% or less of the total value of the property than this time last year (up 22.5%).
Regionally, the South, South East and South Wales all improved their support for small deposit borrowers in September, while Yorkshire was the best region for high loan-to-value lending, with 29% of all house purchase lending made up of small deposit loans.
Whatever the size of your deposit, our mortgage advice service searches the whole of the mortgage market and over 80 leading UK lenders to find the most suitable deal for you.
If you'd like to speak to one of our advisers, you can contact our team on 0800 032 5333, Monday to Friday, 9am-5pm.
Your home may be repossessed if you do not keep up repayments on your mortgage.