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 expert impartial advice on the mortgage market.
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.
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How Much Will It Cost Me For Your Advice?
A fee of £495 is payable on completion of the mortgage and Neil Soundy Financial Services Ltd will keep the commission received from the lender for arranging the mortgage.
Neil Soundy Financial Services Ltd is an appointed representative of HL Partnership Ltd which is authorised and regulated by the Financial Services Authority.
The Financial Conduct Authority does not regulate some forms of buy-to-lets.
We do not give or imply legal or taxation advice. We recommend you contact a solicitor or accountant for advice in these areas.
Think carefully before securing other debts against your home/property. Your home/property may be repossessed if you do not keep up repayments on your mortgage.
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