High deposit mortgages eg; 60+%

[jamieandthemagic]

anyone got any pointers on good brokers or lenders that can specialise in high deposit mortgages ?
got about 60% equity, to put into a new house that we will need to spend extra on ?

[Sarnie]

jamieandthemagic said:

anyone got any pointers on good brokers or lenders that can specialise in high deposit mortgages ?
got about 60% equity, to put into a new house that we will need to spend extra on ?

YHM

[Evo141n]

Any pointers on the same, have 70-85% deposit.

[scotal]

At 30-40% LTV you are in the top tier of mortgages. Any and everyone is going to lend to you, provided your credit history and income will support the application.

[NewNameNeeded]

coyft said:

Colleague at work just got a lifetime tracker from HSBC at 2.59%. I thought that was a cracking deal, is there better out there?

Very tempted by something similar myself. HSBC do a Bank of England Base Rate + 1.89% = 2.39%, and they appear to allow unlimited overpayments either as increases to monthly amount, or as lump sums.

Quick (daft?) question though - I've only had fixed term mortgages before, but the duration of this lifetime tracker is 'Term of Loan'. Does that mean you also can't leave the deal and swap it for another mortgage at some point in the future?

Matt

[scotal]

NewNameNeeded said:

Quick (daft?) question though - I've only had fixed term mortgages before, but the duration of this lifetime tracker is 'Term of Loan'. Does that mean you also can't leave the deal and swap it for another mortgage at some point in the future?

Some lifetime trackers do have tie-ins for a couple of years follwoing advance, HSBC however have no ties on their trackers. You could (subject to credit score and underwriting bla bla bla) change your mortgage at any time

[NewNameNeeded]

scotal said:

NewNameNeeded said:

Quick (daft?) question though - I've only had fixed term mortgages before, but the duration of this lifetime tracker is 'Term of Loan'. Does that mean you also can't leave the deal and swap it for another mortgage at some point in the future?

Some lifetime trackers do have tie-ins for a couple of years follwoing advance, HSBC however have no ties on their trackers. You could (subject to credit score and underwriting bla bla bla) change your mortgage at any time

Thanks!

[JoeBolt]

NewNameNeeded said:

Very tempted by something similar myself. HSBC do a Bank of England Base Rate + 1.89% = 2.39%, and they appear to allow unlimited overpayments either as increases to monthly amount, or as lump sums.

If you want that sort of flexibility you might also consider Offset Mortgages. First Direct (part of HSBC) offer a good range. They are very tax efficient for savers, particularly if you are a high rate tax payer.

[NewNameNeeded]

JoeBolt said:

NewNameNeeded said:

Very tempted by something similar myself. HSBC do a Bank of England Base Rate + 1.89% = 2.39%, and they appear to allow unlimited overpayments either as increases to monthly amount, or as lump sums.

If you want that sort of flexibility you might also consider Offset Mortgages. First Direct (part of HSBC) offer a good range. They are very tax efficient for savers, particularly if you are a high rate tax payer.

Yes, I need to do the Maths on offset mortgages. It's likely that I can overpay by at least 100% each month, plus additional lump sums from time to time, so an offset may work out better for me.