90% mortgage lenders for first time buyers

90% Mortgage Lenders for First Time Buyers

Mortgage Chain

First Time Buyer Mortgages

Alex Kerr: Mortgage Broker for First Time Buyers

Mortgage Chain are Mortgage Brokers for First Time Buyer Mortgages and today we look at the 90% mortgage lenders for first time buyers.

What is happening with this mortgage product and what are the signs moving forwards ?

What is a 90% mortgage ?

A 90% mortgage is available when you purchase a property with a 10% deposit of the properties purchase price.

The number of 90% mortgage lenders for first time buyers returning to the 90% mortgage market, can only be good news for first time buyers. The number of low-deposit mortgages on the market has seen a significant increase in recent months.

90% Mortgage lenders were withdrawn from the mortgage market by the vast majority of mortgage lenders, from March 2020, following the emergence of the COVID-19 outbreak.

Fast forwards 12 months and the majority of mortgage lenders are now offering the 90% mortgage product, once again. This can only be described as a victory for first-time buyers, and mortgage lenders are continuously revamping their mortgage products to include 90% mortgage deals.

Best 90% mortgage rates for first time buyers

What are the best 90% mortgage rates for first-time buyers ? Will 90% mortgage deals go down in rate ? These are questions we get asked all of the time. If you’re considering a 90% mortgage, it could pay dividends to wait until spring 2021. So far a small handful of banks have reduced their mortgage rates as the demand for the product increases, but with the old help to buy scheme winding down, and the stamp duty holidays proposed end date, both coinciding with the end of March 2021, a lot of mortgage lenders have temporarily taken low-deposit mortgages from the market.

This is so they can focus on the huge surge in applications experienced for help to buy and first time buyers looking to beat the stamp duty holiday deadline. Once this hurdle is over, more lenders will return to opening their mortgage books back up, which should see furthermore a larger selection of 90% mortgage products available.

Finding the best 90% lenders for first time buyers

Buying your first home should be exciting. However trying to go alone can sometimes be a huge task, with many first time buyers unaware of the whole process.

You don’t have to work this all out alone. Mortgage Chain will find the very best 90% mortgage lender for your situation, we explain the different mortgage options you have as a first-time buyer and will be by your side for the whole first-time buyer experience.

>> Read more: Why not start by looking at the first steps – mortgages for first time buyers

Today’s Question: Are you thinking about a 90% mortgage is 2021 ? Please comment below.

Alex Kerr
Mortgage Broker for First Time Buyers


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DISCLAIMER: This video and description contain affiliate links via the above checkmyfile link, which means that if you click on one of the product links and purchase the product, I’ll receive a small commission. This helps support the blog and allows us to continue to make more like this. Thank you for the support!

If you would like to speak to a Mortgage Broker for First Time Buyers please get in touch below, using our contact form.

Any questions, please let me know.

Speak soon

Alex Kerr
Mortgage Broker for First Time Buyers

Direct Line: 03333 44 68 69

Contact Form: https://www.mortgagechain.co.uk/contact-us/

 

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