Why are you looking for a mortgage?
Repayment mortgage of £160,000 over 25 years, representative APRC 4.6%. Repayments: 24 months of £620.54 at 1.24% (discount), then 276 months of £930.55 at 5.25% (variable). Total amount payable £271,724.76 which includes interest of £111,724.76. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.
Eligibility
You must meet the following criteria in order to get this loan:
Are resident of Northern Ireland
Are older than 18 years
Available Direct.
Remortgage only.
Self employed not accepted.
Available in branch only.
Additional criteria may apply.
Repayment mortgage of £160,000 over 25 years, representative APRC 4.6%. Repayments: 24 months of £627.94 at 1.34% (discount), then 276 months of £931.38 at 5.25% (variable). Total amount payable £272,131.44 which includes interest of £112,131.44. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.
Eligibility
You must meet the following criteria in order to get this loan:
Are resident of Northern Ireland
Are older than 18 years
Available Direct.
Remortgage only.
Self employed not accepted.
Available in branch only.
Additional criteria may apply.
Repayment mortgage of £160,000 over 25 years, representative APRC 4.6%. Repayments: 24 months of £635.40 at 1.44% (discount), then 276 months of £932.21 at 5.25% (variable). Total amount payable £272,539.56 which includes interest of £112,539.56. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.
Eligibility
You must meet the following criteria in order to get this loan:
Are resident of Northern Ireland
Are older than 18 years
Available Direct.
Remortgage only.
Self employed not accepted.
Available in branch only.
Additional criteria may apply.
Repayment mortgage of £160,000 over 25 years, representative APRC 5%. Repayments: 24 months of £635.40 at 1.44% (discount), then 276 months of £966.13 at 5.64% (variable). Total amount payable £282,900.48 which includes interest of £121,901.48. Product Fee (£999) with an option to add to the loan. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.
Eligibility
You must meet the following criteria in order to get this loan:
Are resident of England
Are resident of Scotland
Are resident of Wales
Are older than 18 years
Available Direct.
Max age at term end: 80 years
Additional criteria may apply.
Repayment mortgage of £160,000 over 25 years, representative APRC 4.6%. Repayments: 24 months of £641.40 at 1.52% (discount), then 276 months of £910.58 at 4.99% (variable). Total amount payable £268,608.68 which includes interest of £106,713.68. Completion Fee (£1,895) with an option to add to the loan. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.
Eligibility
You must meet the following criteria in order to get this loan:
Are resident of England
Are resident of Wales
Are older than 18 years
Available Direct.
Max age at term end: 85 years
Remortgage only.
Additional criteria may apply.
Repayment mortgage of £160,000 over 25 years, representative APRC 5.1%. Repayments: 24 months of £646.69 at 1.59% (discount), then 276 months of £967.41 at 5.64% (variable). Total amount payable £283,520.72 which includes interest of £122,525.72. Application Fee (£995) paid upfront. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.
Eligibility
You must meet the following criteria in order to get this loan:
Are resident of England
Are resident of Scotland
Are resident of Wales
Available Direct.
Additional criteria may apply.
Repayment mortgage of £160,000 over 25 years, representative APRC 4.8%. Repayments: 24 months of £650.48 at 1.64% (discount), then 276 months of £942.50 at 5.35% (variable). Total amount payable £275,741.52 which includes interest of £115,741.52. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.
Eligibility
You must meet the following criteria in order to get this loan:
Are resident of England
Are resident of Wales
Are older than 18 years
Available Direct.
Max age at term end: 85 years
Remortgage only.
Additional criteria may apply.
Repayment mortgage of £160,000 over 25 years, representative APRC 5%. Repayments: 24 months of £651.24 at 1.65% (discount), then 276 months of £955.64 at 5.5% (variable). Total amount payable £280,381.40 which includes interest of £119,386.40. Arrangement Fee (£995) paid upfront. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.
Eligibility
You must meet the following criteria in order to get this loan:
Are resident of Scotland
Are older than 18 years
Available Direct.
Max age at term end: 85 years
Minimum income £40,000
Available in branch only.
Additional criteria may apply.
Repayment mortgage of £160,000 over 25 years, representative APRC 5%. Repayments: 24 months of £651.24 at 1.65% (discount), then 276 months of £955.64 at 5.5% (variable). Total amount payable £280,381.40 which includes interest of £119,386.40. Arrangement Fee (£995) paid upfront. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.
Eligibility
You must meet the following criteria in order to get this loan:
Are resident of Scotland
Are older than 18 years
Available Direct.
Max age at term end: 85 years
Minimum income £40,000
Available in branch only.
Additional criteria may apply.
Repayment mortgage of £160,000 over 25 years, representative APRC 5%. Repayments: 24 months of £651.24 at 1.65% (discount), then 276 months of £955.64 at 5.5% (variable). Total amount payable £280,381.40 which includes interest of £119,386.40. Arrangement Fee (£995) paid upfront. Early repayment charges apply. Fees are assumed to be paid upfront. Other fees may apply.
Eligibility
You must meet the following criteria in order to get this loan:
Are resident of England
Are older than 18 years
Available Direct.
Max age at term end: 85 years
Minimum income £40,000
Available in branch only.
Additional criteria may apply.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
LTV stands for ‘loan to value’ and means the proportion of the property’s value you are borrowing. So, you’ll have a 75% LTV if you are buying a home for £200,000 with a deposit of £50,000 and mortgage of £150,000.
A 75% LTV mortgage is one where the maximum LTV that can be borrowed with it is 75% so anyone who has a deposit totalling 25% of the value of the property they wish to buy can get a 75% LTV mortgage.
You may also need a 75% LTV mortgage if you have more than a 25% deposit but less than a 40% one as the next category of mortgages is generally 60% LTV.
The mortgage rates that will be available to you are set by LTV thresholds – the lower the LTV the cheaper the mortgage deal you’ll usually get as the risk to the lender goes down.
As the lender would repossess the property and sell it to get its money back if you couldn’t repay the loan, with a lower LTV there’s more chance that it would be able to sell the property for enough money to clear the loan as its value could have gone down since you bought it.
A 75% LTV mortgage is in the mid-range of mortgage LTV thresholds.
As lower LTVs require larger deposits than higher ones, you’ll be seen as a less risky borrower by lenders. This means you will enjoy a lower interest rate and in turn lower monthly repayments. A cheaper mortgage deal could also mean you can afford to borrow more than you otherwise would.
75% LTV mortgages are in the middle range of LTV thresholds, giving cheaper rates than the higher LTV mortgages of 80% and above but more expensive rates than 60% LTV mortgages and below.
Raising a 25% deposit will be achievable by many people but is still likely to require many years of saving or funds from selling your previous home.
75% LTV mortgages are a sensible threshold to aim for (even for first-time buyers) as the interest rates and monthly repayments will be more manageable than those available with 80-95% LTV mortgages.
To attract you as a customer, whether you’re taking out a 75% LTV mortgage or anything else, lenders give you an initial deal period where you pay a lower rate than its standard variable rate. Early repayment charges usually apply to switch within this period.
Fixed-rate mortgage deals are the most popular type. These fix your interest rate for a period of time – usually two to five years, although 10-year fixes are available. Your rate will then move up to the lender’s higher standard variable rate unless you remortgage with a new lender or move to a new deal with your current one.
With a fixed rate you’ll know exactly how much your monthly repayments will be during the deal period so a fixed deal can be a particularly good choice if you’re a first-time buyer or on a tight budget.
You’ll usually pay more for a fixed rate initially than a variable one however, as the lender has to keep your rate the same even if the Bank of England base rate increases. This can happen due to a range of factors, such as rising inflation.
Although you’ll benefit from your rate not going up during the period of the deal, you also won’t benefit if interest rates go down.
Discounted variable-rate deals give you a set discount from the lender’s standard variable rate (SVR) for an initial period of usually two to five years, so the interest rate can go up or down with any changes to its SVR.
For example, you may get a discount of 3% from the lender’s SVR so if the SVR is 4.5% you’ll pay 1.5%. But if your lender raises its SVR to 5% your rate will go up to 2%.
Discounted rates often have a ‘collar’, which means they won’t ever drop below a certain level. So if the collar is set at 1%, you’ll still pay 1% even if the lender’s SVR in the example above goes down to 3.5%.
With discounted rates you’ll usually start at a lower interest rate compared with an equivalent fixed-rate deal but there’s a risk that it could rise to more than you would have paid with a fixed rate.
If you decide to go for a discounted deal, make sure you would comfortably be able to afford the repayments if your rate was to rise by different amounts. Any increases to the Bank of England base rate are likely to be small but a succession of rises could significantly increase your mortgage repayments.
Last updated: 21 December 2021
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