With the rising property prices in the UK, it’s becoming increasingly difficult for first-time buyers and even existing homeowners to afford a property. For many people, getting a mortgage with a high loan-to-value (LTV) ratio is the only way to make their dream of homeownership a reality. In this article, we will discuss the best 80 LTV mortgages in the UK and how Mortgage Knight can help you secure the right mortgage for your needs.
What is an 80 LTV mortgage?
An 80 LTV mortgage is a type of mortgage where the borrower puts down a deposit that is equal to 20% of the property’s purchase price. This means that the mortgage loan will cover 80% of the property’s value. For example, if you are buying a property for £250,000, you would need to put down a deposit of £50,000 and take out a mortgage for the remaining £200,000.
These types of mortgages are popular among first-time buyers who may not have a large deposit saved up, as well as existing homeowners who may have equity in their current property but still need a mortgage with a higher LTV ratio to afford their next home.
Best 80 LTV mortgages in the UK
When looking for an 80 LTV mortgage, there are several factors to consider, including interest rates, fees, and the overall terms and conditions of the loan. Here are some of the best 80 LTV mortgages currently available in the UK:
1. Halifax
Halifax offers a range of 80 LTV mortgages with competitive interest rates and options for both fixed and variable rate mortgages. They also offer perks such as cashback on selected mortgages, making them a popular choice among borrowers.
2. NatWest
NatWest is another lender that offers attractive 80 LTV mortgages, with options for first-time buyers, home movers, and remortgaging. They also provide flexibility with repayment terms and fixed or tracker rate options.
3. Barclays
Barclays has a variety of 80 LTV mortgages that cater to different borrower needs, including options for new purchases, remortgaging, and existing customers looking to move home. They also offer the ability to offset savings against the mortgage balance, potentially reducing the amount of interest paid.
4. Nationwide
Nationwide is known for offering competitive interest rates on their 80 LTV mortgages, as well as additional perks such as cashback and fee-free overpayments. They also have options for both fixed and tracker rate mortgages.
How Mortgage Knight can help
Navigating the mortgage market and finding the right 80 LTV mortgage for your needs can be a daunting task. This is where Mortgage Knight comes in. As a professional mortgage brokerage firm, we specialise in helping clients find the best mortgage deals tailored to their individual circumstances.
Our team of experienced mortgage advisers will work closely with you to understand your financial situation, your housing goals, and your preferences. We have access to a wide range of mortgage products from various lenders, including those offering 80 LTV mortgages, and we will provide you with personalised advice and recommendations to help you make the right choice.
One of the key benefits of working with Mortgage Knight is our ability to compare mortgage deals from different lenders, giving you access to a wider range of options than if you were to approach individual banks or building societies directly. This can potentially save you time and money in the long run, as we will negotiate on your behalf to secure the most favourable terms for your mortgage.
Contacting us for mortgage advice does not affect your credit rating, so you can rest assured that reaching out to Mortgage Knight for assistance will not have any negative impact on your financial profile.
In addition to helping you find the best 80 LTV mortgage, Mortgage Knight can also assist with other aspects of the mortgage process, such as arranging for a mortgage in principle, completing the mortgage application, and liaising with the lender on your behalf. We aim to take the stress out of the mortgage process so that you can focus on finding and buying your dream home.
Final thoughts
Finding the best 80 LTV mortgage in the UK can be a challenging task, but with the right support and guidance, it is certainly achievable. Whether you are a first-time buyer looking to get on the property ladder or an existing homeowner in need of a higher LTV mortgage, Mortgage Knight is here to help.
Our team of dedicated mortgage advisers are ready to assist you with all your mortgage needs, providing you with expert advice and support every step of the way. Contact us today to find out how Mortgage Knight can help you secure the right 80 LTV mortgage for your property purchase or remortgage. Let us help you navigate the mortgage market and make your homeownership dreams a reality.
