Since the Corona-virus crisis, mortgage lenders have been withdrawing from various markets basically in complete fear! Why would you borrow someone money where their job may be at risk or at best only have 80% of their income? Low-points of the past 3 months include Nationwide pulling all tracker mortgages and no lender offering any mortgage with less than 15% deposit! Some lenders have also been effectively banning any lending to certain industries and even “black-listing some employers” – something never seen before!
The good news is that some appetite seems to be returning to the market and we now have lenders bringing back 10% deposit deals. If you are looking to buy or even move home, contact your local experts and see how we can help!