The loan to value (LTV) of a mortgage is understandably of significant concern for those hoping to buy a property, as saving for a large deposit is a huge commitment. This is especially true if you’re purchasing a large property, but wish to keep your liquidity high. As such, many of our clients are looking to borrow in the region of 85% LTV, which is more than the majority of lenders will offer. To complicate matters further, many of these lenders have an upper lending cap significantly below what many Enness clients are looking to achieve.
Fortunately, our access to the whole of the lender market means we’re currently working with a bank who can offer 85% LTV on a mortgage of up to £2million. This is a fantastic offering if you want to secure a large mortgage with a low deposit. Furthermore, this product can also be used by those looking to remortgage their existing facility.
Typically, the flipside of a high LTV mortgage is an expensive rate—but this product also offers a very favourable 5-year fixed rate of just 2.18%. This is ideal for clients who want the stability of a low rate for the foreseeable future.
However, if a lower rate is your priority, you could also secure an 85% LTV mortgage at a 2-year fixed rate of 1.65%. Again, this can be used for mortgages up to £2million, which could make this product a great fit if you’re looking purchase a large property or remortgage your existing facility.
- 5-year fixed rate
- Mortgages up to £2million
As an added bonus, this lender also offers free residential lender valuations on properties up to £2million. Valuations on large properties can end up costing hundreds if not thousands of pounds, so this is another excellent opportunity to save on costs.