Compare 70% LTV Mortgages

Is 70% LTV good?

Considering that lenders offer mortgages with an LTV as high as 95%, a 70% LTV mortgage is among the more competitive loan-to-value ratios and is unlikely to be prohibitively expensive in terms of interest rates.

For example, if you wanted to buy a property worth £300,000 with a 70% LTV mortgage, you would need a deposit of £90,000. That’s not a small sum by any means, but neither is it beyond the realms of possibility.

With a 70% LTV mortgage, you may be able to access better interest rates, as lenders will see you as less of a risk.

Can I get a 70% mortgage?

As its name suggests, the main requirement to apply for a 70% LTV mortgage is a deposit worth 30% of the property you are looking to buy.

However, having that deposit will not guarantee that your application is successful. You will also need to meet the lending criteria, some of which can differ between providers.

You will likely need to:

• Prove your deposit comes from an approved source.
• Meet the lender’s affordability checks, based on your income and spending.
• Supply the required proofs of ID, income and evidence of deposit.
• Pass the lender’s credit check.
• Be within the maximum and minimum age requirements.

The outcome of these checks will also help inform the terms of the mortgage you are eventually offered.

How to find the best 70% LTV mortgages for me

Our simple, quick-to-use mortgage comparison tool can help ensure you find the best 70% LTV mortgage available for your current situation.

First, we need you to answer a few short questions. These will cover your existing mortgage (if applicable), the value of the property you wish to buy, and the kinds of rates and terms you are looking for in your new mortgage.

Then we will compare providers across the mortgage market and only show you those offers that match your search requirements.

Once you have chosen the mortgage that is best for you, taking into consideration interest rates, initial monthly payments and more, you can then either apply directly or through a mortgage broker.

Advantages of a 70% LTV mortgage

There are a number of benefits that can come from a 70% LTV mortgage. First and foremost, you will likely be able to access better interest rates from lenders than if you had a higher LTV.

The higher your initial deposit, the quicker you may be able to pay off your mortgage. You may also have the option of smaller monthly repayments, since you are borrowing less.

And if you have bad credit, a larger deposit, such as the 30% deposit required for 70% LTV, may mean you have a better chance at a successful mortgage application.

Disadvantages of a 70% LTV mortgage

While not as high as the deposit required for a 50% LTV mortgage, a 30% deposit can still be a lot of money depending on the value of the property you are looking to buy.

It can be risky to spend all of your savings on a deposit, as you may need to make improvements to the property or have money in reserve for emergencies. Therefore you should only opt for a 70% LTV mortgage if you can comfortably afford that level of deposit.

If you cannot afford a 30% deposit, don’t worry – a 20% deposit, i.e. an 80% LTV mortgage, is still seen as a strong application. And some providers will even consider mortgages with a deposit as low as 5%.

70% LTV Mortgages FAQ