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A 90% Loan to Value (LTV) mortgage is a type of mortgage where the lender provides 90% of the property’s value, meaning you would need a 10% deposit to secure the loan. In Manchester, these mortgages are popular among first-time buyers and those with limited savings, as they allow you to enter the housing market with a smaller deposit.
For example, if you’re purchasing a property in Manchester valued at £250,000, a 90% LTV mortgage would require a £25,000 deposit, with the lender covering the remaining £225,000 through the mortgage.
If you are looking for 90% mortgage advice in Manchester or want to ask our experts a question, don’t hesitate to get in touch. Your first mortgage appointment is completely free, so make sure to take advantage of this opportunity and set yourself on the path to owning your dream home!
Whether you can get a 90% mortgage in Manchester or not will depend on several factors including:
Interest rates on 90% mortgages tend to be lower than 95% deals due to the lower loan-to-value (LTV). This is because mortgage lenders see less risk when lending to an applicant with a 10% deposit. As a mortgage broker in Manchester, it’s our job to find you the best 90% LTV mortgage product for your individual situation.
Our mortgage advice service is designed to guide you through every step of the mortgage process, offering tailored support to match your unique financial situation. We compare thousands of mortgage deals from a wide range of lenders to find the most suitable options, whether you’re a first time buyer in Manchester, moving home, or remortgaging.
Our team of dedicated mortgage advisors in Manchester will simplify the complexities, ensuring you understand your choices and feel confident in your decisions.
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Louise was absolutely outstanding !!! We had a few issues with the property we were purchasing and Louise was so helpful in getting us the answers we required from the lender within a timely manner. I spoke with Louise regularly and she was...
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To get a 90% LTV mortgage, you’ll need to save a 10% deposit of the property’s value and pass the lender’s affordability checks. The lender will assess your income, credit history, and outgoings to ensure you can afford the monthly payments. Comparing different mortgage deals or speaking to a mortgage broker in Manchester can help you find the best option.
Most high street banks, building societies, and specialist lenders offer 90% LTV mortgages. You can find these deals through direct applications or by using a mortgage broker who can compare rates from various lenders.
Eligibility for a 90% LTV mortgage depends on factors like your credit score, income stability, and affordability. Lenders will look at your ability to meet the monthly repayments and assess any debts or financial commitments. A higher credit score and a stable income increase your chances of approval.
A 90% LTV mortgage can be a good idea if you have a smaller deposit but still want to get on the property ladder. They allow you to buy a home with less upfront savings. You may face higher interest rates compared to mortgages with lower LTV ratios, making it important to compare offers to find the best deal.
While 90% LTV mortgages are widely available, they can be more difficult to get if you have a low credit score or unstable income. Lenders often charge higher rates due to the increased risk, but working with a mortgage advisor in Manchester can help improve your chances of finding a suitable deal.
No, 90% LTV mortgages are not just for first time buyers in Manchester. They are available to home movers and those looking to remortgage as well. However, first-time buyers tend to use these mortgages more often, as they generally have smaller deposits compared to existing homeowners.
Yes, you can get a 90% LTV mortgage on a new build, but not all lenders offer this for newly built homes. Some lenders consider new builds a higher risk, so they may require a larger deposit. It’s best to check with a mortgage advisor or compare deals to find lenders who offer 90% LTV for new builds.
When you book your free mortgage appointment, you'll have the opportunity to speak with a mortgage advisor in Manchester.
You can book your free mortgage appointment online or by giving a member of the team a call!
During your free mortgage appointment, our team of mortgage advisors in Manchester will ask you a series of questions to try and find the most suitable mortgage option for you.
We will also obtain your mortgage agreement in principle (AIP). Armed with the AIP, you can confidently make offers on properties.
Our team will search through 1000s of mortgages to find the perfect 90% mortgage deal for you in Manchester.
Once you are happy with the mortgage product we have found you and you have had an offer on a property accepted, we can begin the mortgage application process!
From here in the process, you will work alongside a dedicated case manager. They will make sure that you have all of the correct documents at the ready to support your mortgage application.
Once we are ready, we can send your mortgage application off to the mortgage lender. All that is left to do now is to wait for the response back.
Contact us and arrange a free mortgage appointment with one of our mortgage advisors in Manchester at your convenience.
During this appointment, your expert mortgage advisor in Manchester will guide you through the mortgage process, answering all your burning questions and understanding your unique circumstances. We believe in providing personalised solutions that align with your financial goals.
We pride ourselves on our ability to find the best mortgage deals by scouring through a vast selection of options. As a first time buyer in Manchester, our main objective is to secure the most suitable deal that caters to your specific circumstances.
Our mission goes beyond simply finding you the ideal mortgage; our dedicated team is here to provide unwavering support throughout the entire process.
As your mortgage broker in Manchester, we offer a personalised and supportive service, understanding each client's unique needs and providing tailored solutions.
We understand the excitement and challenges that come with buying your first home, and we are here to support you every step of the way. Life is full of milestones, and we are passionate about helping you achieve this significant one.
Our team of experienced mortgage advisors in Manchester are available day and night, ready to provide you with the reliable 90% mortgage advice in Manchester you need. No matter the time, we are just a phone call away, ensuring that you can reach us at your own convenience.
With our dedicated team by your side, you can trust that you are in good hands. We are committed to helping you find the best mortgage solution that suits your needs.
A 90% LTV mortgage in Manchester with bad credit allows those with a less-than-perfect credit history to secure a mortgage with a 10% deposit. Although your options may be more limited, specialist lenders offer products designed for applicants with County Court Judgements (CCJs), defaults, or missed payments. You may face higher interest rates, but working with a mortgage broker in Manchester can help you find the best deals available for your situation.
If you’re self-employed and looking for a 90% LTV mortgage in Manchester, you’ll need to demonstrate your income stability with proof of earnings, typically from two to three years’ worth of accounts or tax returns. Lenders will evaluate your affordability and income consistency to approve a mortgage with just a 10% deposit. Speaking to a specialist mortgage advisor in Manchester can be helpful to navigate the process and find lenders open to self-employed applicants.
For borrowers aged 50 and over, a 90% LTV mortgage in Manchester can still be an option, though lenders may take your retirement income and future affordability into account. Some lenders may offer extended terms or retirement interest-only mortgages, allowing you to borrow up to 90% of the property’s value with a 10% deposit. Getting expert over 50 mortgage advice in Manchester is crucial to ensure you choose the best product that suits your long-term financial plans.
With a 90% LTV mortgage for Shared Ownership, you can buy a share of a property (typically between 25% and 75%) with just a 10% deposit of your share’s value. This makes homeownership more accessible for those with smaller deposits. You’ll pay both a mortgage on your share and rent on the remaining portion, making it essential to compare deals that work with Shared Ownership schemes.
A 90% LTV mortgage with a gifted deposit allows you to use money from a family member or friend as part or all of your 10% deposit. The lender will require proof that this is a gift and not a loan. This option can help you get on the property ladder more quickly and reduce the burden of saving a full deposit yourself.
While 90% LTV mortgages are more common for residential purchases, they are not typically available for Buy to Let properties due to the perceived higher risk. Most lenders require a larger deposit, usually between 25-40%, for Buy to Let mortgages. Speaking with a specialist lender or mortgage broker might help identify niche products that may work for your investment needs.
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Manchestermoneyman.com & Manchestermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Manchester, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Manchestermoneyman.com & Manchestermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Manchester, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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