|
"The Easy Way to Get Your Best UK Mortgage" |
|
| Helping
over 300,000 people a year find the right mortgage NINE YEARS ONLINE |
|
|
|
|
||||||
|
|
Put simply, an 80% mortgage is a mortgage where you borrow 80% of the value of the property you are buying. So if your new house costs £150,000, your mortgage will be £120,000.
An 80% mortgage means your mortgage loan has a loan to value (LTV) ratio of 80% - you have been loaned 80% of the value of your property.
A general rule with mortgages is that the bigger your deposit, the better the deal you can get. This means access to lower interest rates, lower monthly payments or perhaps a shorter mortgage term.
The 20% deposit you will need to provide for an 80% mortgage is large enough to ensure that most lenders will offer you their best deals.
You can also be sure that you will not be subject to any Higher Lending Charges, or HLCs – these are fees some lenders charge for people borrowing more than 90% of the value of the property they are buying.
Most lenders will provide 80% mortgages – it is a very common level of borrowing and puts you firmly in the mortgage mainstream.
You will have access to a wide variety of types of mortgage, such as:
·
Fixed rate
· Variable rate
· Tracker
· Discounted rate
You will also have access to flexible and offset mortgages, which allow you various combinations of flexible repayments and allow you to use your savings to reduce the amount of interest you have to pay.
You may find you have a surprisingly wide choice of mortgages!
With such a wide choice, it may be difficult to work out exactly which mortgage is best for you.
If you are in that position, an independent mortgage broker should be able to explain the different options to you without obligation and to help you understand which type of mortgage will suit your needs best.
To read more on this subject please see the list below or your mortgage guide or your home buying guide
Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below
Fixed
Rate
Variable
Rate
Discounted
Rate
Interest
only mortgages
Interest
repayment arrangements
Choosing
a Mortgage
Different Mortgage Types
Re
Mortgages
How to Find your Mortgage
Mortgages in Principle
Guide to Buying Home in the UK
Guide to UK Home and Mortgage Insurance
Back to A to Z Mortgages UK List
Read more about Types of Mortgages
See contents of Full Mortgages Guide
See contents of Home Buyers Guide
I've read enough for now and want to get a free Quick Mortgage Quote
The
two major varieties:
Repayment
mortgages
Interest
only mortgages
Then
mix in the various:
Interest
repayment arrangements
Finally,
to cover all the different types there's a
Complete A-Z of mortgages
All UK Mortgage types
100%
Mortgages
Base
Rate Trackers
Bridging
Loans
Bad
Credit Mortgages
Buy
to Let
Calculators
for Mortgages
Cashback
Mortgages
Capped
Rate
Costs
of a Mortgage
Current
Account Mortgages
Discounted
Variable Rates
Equity
Release Mortgages
Endowment
Mortgages
Expatriate Mortgages
First
Time Buyer Mortgages
Fixed
Rate Mortgages
Group
Mortgages UK
Interest
Only Mortgages
Investment Mortgages
ISA
Mortgages - UK
Part
and Part Mortgages
Pension
Mortgages
Prime
Mortgages
Repayment
mortgages
Shared
Ownership Mortgages
Standard
Variable rate
| Can't Find It Here? Enter what you are looking for in the box below |
I'm
employed -
shortcut
I'm
self-employed -
shortcut
I'm
buying my first mortgage
- shortcut
I've
got a bad credit history -
shortcut
Mortgage
Basics
How
to Choose your Mortgage
Types of Mortgage
Where to Find Your Mortgage
Getting a Mortgage in Principle
Browse over 200 Free Mortgage TipsYour Complete Guide to UK Mortgages Find Out How to Win the Race to Buy Your Home - Home Buyers Guide Learn How to Save ££s by Remortgaging Read the Insider Info on Home Insurance Site Help |