5% Mortgages are making a comeback
After the pandemic caused lenders to take a step back from offering 5% mortgages, it has now been confirmed that they will be making a comeback through a new low deposit scheme
Several of the UKs biggest mortgage lenders have already signed up to the scheme with names such as, Lloyds, Natwest, Santander, Barclays and HSBC in preparation for the scheme to commence next month
This is really positive news and a step in the right direction for those that possess a 5%-9% deposit, as the scheme is nonspecific which means it is available to a wider range of potential buyers including, previous home owners, home movers and first time buyers
If your potential deposit falls within this bracket and you wish to begin the mortgage process, get in touch for more information or to be booked in for fee-free advice on your current circumstances via our web online enquiry form, email or telephone
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