90% LTV mortgages are still achievable with the right team on your side

LTV mortgages are still achievable with the right team on your side

Much has been made of the fact that several lenders have pulled back on their 90, 95 and 100% loan to value (LTV) mortgages as the global pandemic continues to have an economic impact. In fact, it has been estimated than as many as 1,000 low deposit mortgage deals have been pulled from the market in the last six months[1], due to lenders exercising increased caution in the face of uncertainty. Although there are certainly fewer deals to be had in the market, we are still able to find them in the right circumstances. That’s why our clients value our team of specialist advisers, because we have decades of experience in hunting down opportunities across our global panel of over 200 lenders.

Case profile

Our client contacted our Associate Director, Tom Foster, late on a Friday afternoon, having been let down by a lender on their 90% LTV mortgage. The contract exchange date to purchase the house was fast approaching, so there was a need for speed to secure the finance and the property.

Solution

Tom acted immediately to meet the client (observing social distancing guidelines) to obtain the relevant paperwork, so that the application could be submitted the same day to the lender. The valuation on the £875,000 property was booked immediately, and the mortgage offer produced within ten days of the application being submitted – an incredibly fast turnaround in COVID times, when most applications are taking several weeks longer than usual. With mortgage offer in hand, the client was able to exchange contracts and complete on the purchase of their new home.

If you need a high LTV mortgage, we may be the team to help. Get in touch with one of our specialist advisers today to discuss your options.

[1] https://www.yourmoney.com/mortgages/more-than-1000-low-deposit-mortgage-deals-pulled-in-just-six-months/

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