Search

Availability Of Mortgage Lenders Accepting A 10% Deposit Rising.


Some great news for first-time buyers, anyone looking to move home or re-mortgage, or anyone who wants to put down a 10% deposit or release the maximum possible equity from their home.


During Autumn of 2020, a couple of Lenders started lending up to 90% of the property value again, having spent the spring and summer of 2020 only lending up to 80% of a property value. While the initiative was a great success which led to a rejuvenation of the Scottish property market, these 90% mortgages were only available for first-time buyers.


However, since the start of 2021, more and more lenders have come to market offering mortgage deals up to 90% of a property value; and not just for first-time buyers. Home movers and those looking to re-mortgage can now benefit from some of lenders' 90% deals. This month (Jan 2021), there are currently 8 Lenders offering up to 90%, and we expect to see more lenders enter this market over the coming weeks and months.


Could we see the return of 95% mortgages soon? We asked that question to several lenders, and the consensus was, in the short term no. Still, if economic stability and recovery emerge, then it was something some lenders would look at, but that would be many months away in their view.


Still, this is fantastic news for those who can raise 10% as a deposit as this now offers you more options and choices. However, borrowing such a significant proportion of the property value may not be right for everyone. We take the time to understand you, your needs and your situation before making the most appropriate recommendation across the whole of the mortgage market.


As independent mortgage brokers, we access the whole market of lenders, and from time to time, we are offered exclusive deals. Despite lockdown, our brokers work from home and can help you over the phone and via video calls.


Click here to get in touch today to see how we can help you with your Mortgage and Insurance requirements.






GreenShoots Financial Ltd, Bathgate Business Centre,  6 Whitburn Road, Bathgate, West Lothian, EH48 1HH

GreenShoots Financial Ltd is authorised and regulated by the Financial Conduct Authority and is a Registered in Scotland with Company number: SC553850, Registered at Bathgate Business Centre,  6 Whitburn Road, Bathgate, West Lothian, EH48 1HH.

 

Authorised and regulated by the Financial Conduct Authority, Greenshoots Financial Ltd is entered on the Financial Services Register https://register.fca.org.uk/ under reference 772313.

The guidance contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.  A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567

© Copyright 2017 Greenshoots Financial Ltd. All rights reserved. Cookie Policy | Privacy Notice