Financial Times - UK lenders raise rates on low-deposit mortgages

A host of UK lenders are increasing rates on mortgages for borrowers with small deposits. “It’s been a surprise Yorkshire has been able to undercut so many of the biggest lenders and for so long,” said Aaron Strutt, a mortgage broker at Trinity Financial. “But the competition is finally starting to catch up with them.” Mr Strutt pointed out that Tesco Bank, Skipton Building Society and Coventry Building Society had all lowered rates on tracker deals for 15 per cent and 2 per cent deposits. “Saving up a bigger deposit or simply asking how much more you need to put into the deal will potentially save you thousands,” he added. “In some circumstances, raising an extra 1 per cent deposit could potentially enable you to qualify for a significantly lower rate.” Click here to view Trinity Financial in the Financial Times £ We are not responsible for the accuracy of the information contained within the linked sites accessible from this page. February 19, 2014