You are here: Home - First Time Buyers - News -

Halifax and Virgin Money move back into the 90% mortgage market

0
Written by:
03/12/2020
The news will come as a boost to first-time buyers with a modest deposits, as a growing number of lenders now offer 90% deals
Halifax and Virgin Money move back into the 90% mortgage market

Virgin Money has launched a first-time buyer mortgage, available up to 90 per cent of the property’s value.

The mortgage is available to buyers with a 10 per cent deposit and is fixed for five years at 3.69%. It comes with a fee of £995.

Halifax is also relaunching 90 per cent mortgages next week. The deals are only available to first-time buyers, or joint applicants where one is a first-time buyer.

The lender said that an enhanced credit score will be required to access the mortgages and the deals won’t be available on newly built homes.

The mortgages are also capped at 4.49 times income with maximum loans of £500,000.

Other lenders to have boosted their product range at 90% of the property’s value include TSB, Atom Bank and Platform, part of the Co-operative Bank.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Six bank statement mistakes that can ruin a mortgage application

Being overdrawn and having a history of payday loans can be red flags to lenders when they...
Six bank statement mistakes that can ruin a mortgage application

Fancy fixing your mortgage rate for 40 years? Don’t forget about your pension

Super-long mortgages are becoming more popular but, if you need to make monthly repayments...
Fancy fixing your mortgage rate for 40 years? Don't forget about your pension

Revealed: Property costs per square foot in UK cities

Which Scottish city costs the least in the UK per square foot of property?
Revealed: Property costs per square foot in UK cities

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators