The Funding for Lending Scheme introduced by the Government seems to be working. As before those with the largest deposits obtain the best rates. The difference between on rates between a 30% and 40% deposit is now marginal. Those with just a 5% deposit have also gained. The table below shows rates available starting from just a 5% deposit to 40% deposit.
Remember the lowest rate does not mean the best product. We take into account the fees charged by the lender.
To obtain the best rates, some lenders will require the borrower to open a salary funded bank account.
Deposit Rate APR Fees Lender
5% 5.499% 5.50% £995 Monmouth
10% 4.24% 4.90% £599 Loughborough
15% 3.79% 4.40% nil Britannia
20% 3.10% 3.90% £1595 West Bromwich
25% 3.09% 5.79% £1500l Chelsea
30% 2.89% 3.800% £999 Nationwide
40% 2.79% 4.10% £999 Britannia
All lenders have different lending criteria. Let us match you to the lender who matches your personal circumstances.
Why use Neil Soundy Financial Services for your mortgage advice in Cardiff.
We will give you independent impartial advice on every mortgage from every lender.
Your initial consultation is free with no obligation.
View the video on our homepage that explains how we can offer at least twice the choice of mortgages compared to a standard mortgage broker.
How to pay for advice.
On mortgages where commission is paid by a lender we do not charge a fee, as we are receiving a payment from the lender. Free Mortgage Advice.
On mortgages where no commission is paid, we charge a fee instead. This is £395 for arranging a mortgage up to £250,000 and £495 for a mortgage in excess of this figure. These fees are payable on completion only.
Why pay a fee for a non-commission paying mortgage? You will save more money on your monthly payments.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage
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