Smaller lenders look to offer 100% ltv and low deposit mortgages
Northern Bank, which only lends to Northern Ireland residents, offers a number of mortgages up to 100% loan-to-value to existing current account customers.
Two other lenders say that they will lend up to 100% of the property value, including the Teachers Building Society and the Tipton & Coseley Building Society. Qualifying for both mortgages will be particularly tricky because they are not widely available.
To get a 100% loan-to-value mortgage with the Teachers Building Society you would need to secure 20% funding from the government Home Buy scheme and one applicant on the mortgage would need to be a qualified Teacher or Learning Assistant.
The Tipton's 100% offering will require a family member to give permission for a collateral charge to be taken on their home and the property must be in the Midlands counties.
There are more lenders offering 95% loan-to-value mortgages and many of them are available through regional building societies. The Cambridge Building Society is the latest society to offer 95% loan-to-value rates.
Trinity Financial has access to the Skipton Building Society two-year fixed rate for borrowers with a 5% deposit and the arrangement fee is £195.
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