Positive news for low deposit house buyers

Date: 14th March 2018
Author: Peter Hunt

The last 12 months have seen an increase in mortgage products which allow applicants to put down deposits of as little as 5%. In the UK such deals have risen by 20% in the past 12 months and are at their highest level since the 2008 financial crisis. Having recovered from the crisis by only offering mortgages with larger deposits, UK banks are now in a stronger position than in recent years. Therefore we may see more of the lower deposit deals on offer, but expect interest for these deals to be higher at around 4%.