95% mortgage deals in Jan 2010

As we move into the new decade 95% mortgage deals are still hard to come by.  The recently reported 95% mortgage deals are still available but there are very few new deals coming to the table.

It also appears that these deals are mainly for current borrowers, which still leaves first time buyers out in the cold.

The following lenders are offering 95% mortgage deals to current borrowers:

Nationwide

Halifax

Ipswich Building Society

Northern Bank

Given the current climate it is likely that 95% mortgage deals are not going to be prevalent in 2010 but according to Ray Boulger of John Charcol more will become available as we go through 2010:

“Another positive comes from the recent increased lender competition and, in particular, the significant improvement in the number and pricing of deals to 80 per cent, 85 per cent and even 90 per cent loan to value. This will make it easier for frustrated potential buyers and I would not even be surprised to see a few 95 per cent LTV mortgages re-emerge towards the end of 2010.”