First-time buyers face rising mortgage rates – This is Money
Banks are hiking mortgage rates for homebuyers who can only put down deposits worth 10 per cent of the property value.
A range of lenders increased their rates on high loan-to-value mortgages last week, even though the Bank of England interest rate has remained rock bottom at 0.1 per cent.
Those worst affected will be first-time buyers, who typically borrow 90 per cent or more of their property’s value.
A range of lenders increased their rates on high loan-to-value mortgages last week