90% Mortgages – Current Pick Of 90% Mortgages
90% Mortgages – November 09
Although the market has been quite flat and high LTV mortgages have fast disappeared over the past couple of years new deals are becoming available. There are currently a few choices for 90% mortgages.
The Nationwide has introduced a new range of mortgages with the requirement of only a 10% deposit. These are fixed rate mortgages starting at 5.98% for two years with a fee of £495. These deals are available to existing customers to those who sign up to their FlexAccount.
Halifax offers a choice of two 3 year fixed rate 90% mortgages. The first is at 6.79% until Feb 2011 then rising to 7.29% until Feb 2013 on loans below £500,000 with a product fee of £995. The second deal starts at 5.84% until Feb 2011 rising to 6.34% Feb 2013 with product fee of 2.5% of the loan. Also 6.64% until Feb 2011 then rising to 7.14% until Feb 2013 with a product fee of £495. These last two deals are for loans up to £2million. First time buyers are required to have or open a Halifax or Bank of Scotland current account.
The HSBC offer two 90% mortgages. Home Buyer Mortgage Special 2 Year Fixed Rate at 5.99% until the end of 2011 with a £599 booking fee. The second deal is their Home Buyer Mortgage Special 5 Year Fixed Rate at 6.49% until the end of 2014 with a £599 booking fee. With both deals there is a maximum £400,000 loan.
As mentioned 90% mortgages have become quite a rarity since 2007 and have almost disappeared from the market. Recently Moneyfacts.com which is a product comparison site presented a 75% fall in the availability of 90% mortgages. However those that are still available have had soaring costs. So it’s worth checking all options.
Related posts:
