10% Deposit Mortgages

10% Deposit Mortgage Service

Special features of what we offer include:

• Whole of market service - we work with most UK lenders

• Access to loan deals not available on high street

• Fast turnaround - speak to us today if you need to move quickly

• We have lenders who will take into account previous defaults and missed payments 

• Looking to raise additional finance on top of your existing mortgage or buy to let mortgage? - we have access to a range of finance solutions

To investigate your mortgage options call our independent mortgage adviser team or fill in our call back form.

The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support. 

As your mortgage is such an important transaction, good advice is imperative.

10% Deposit Mortgages

Whether you are trying to buy your very first home, remortgage or move, you may be wondering what being able to put down a 10% deposit will be able to get you.

While it can be possible to secure mortgages with smaller deposits, being able to put down at least 10% of the property value will increase the amount of products available to you.

There is a selection of mortgages with Loan to Values of 90% on the market, so it is worth shopping around thoroughly before hand to try and find the best product for your specific circumstances. Use the calculator above to give you an indication of what you coudl get.  

Loan to Value

The Loan to Value (LTV) of a mortgage is the amount borrowed compared to the size of the deposit put down, meaning a mortgage with a 10% deposit will have a LTV of 90%.

It should be noted that having a larger deposit will increase the amount of products available to you, and decrease the rate of interest you pay on the loan.

Affordability

In addition to being affected by the size of deposit,  the maximum amount of money a potential borrower can borrow from a lender will also be dependent on their affordability, which is generally calculated as being a certain multiple of their annual (combined in the cases of a couple) income.

However, lenders are required to take into account other factors such as the monthly outgoings of applicants and if they would still be able to afford their repayments if interest rates were to rise.

From this lenders will be able to assess exactly how much they could lend you.

How Do I Get A 10% Mortgage?

Different lenders will have differing lending criteria, meaning not all 10% deposit mortgages will be suitable for all applicants. This is because the lender may require their applicants' specific financial circumstances to fulfil certain criteria such as having a minimum credit rating requirement.

Using an independent mortgage adviser

There are a range of mortgages available for individuals able to put down 10% deposits on the loan; you may therefore find it helpful to use the services of an independent mortgage adviser. In addition to being able to offer their clients advice about obtaining a mortgage, an adviser which offers a whole-of-market service can search across products from a range of providers to try and find the best products for their client.

There is also a selection of mortgages from specialist lenders which can only be applied for via an intermediary.

Fill in our online contact form to request a call back from a Fair Mortgages mortgage adviser, at a time that suits you.