Santander to offer 5% deposit mortgages
Santander for Intermediaries is the latest major mortgage lender to announce it will be offering 95% loan-to-value rates without support from the Help to Buy scheme.
With the Government’s temporary funding scheme due to finish in 2016 lenders are making alternative plans to provide low deposit mortgages.
Last week Nationwide Building Society relaunched its range of 95% loan-to-value mortgages targeting first-time and next-time buyers. The lender is planning to support one in five first-time buyers by boosting its mortgage lending by £1 billion over the next 12 months.
Santander will be launching their low deposit mortgages on 29 September and the acceptance criteria will mirror the existing policy for applications under Help to Buy.
The BBC wrote about these changes and Trinity provided comment. You can view the story by clicking here.
For help to secure a low deposit mortgage call Trinity on 020 7016 0790.
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