Having more equity in a property, or a larger deposit, can greatly reduce the rate a lender may offer you. Below is an indication of how different LTV's (loan to value) can change things.
The rates below are an average taken on 16 May '23 for 5 year fixed products, with £999 lender fees.
5% deposit (95% LTV) average five year fixed rate @ 5.15%
10% deposit (90% LTV) average five year fixed rate @ 4.79%
15% deposit (85% LTV) average five year fixed rate @ 4.56%
25% deposit (75% LTV) average five year fixed rate @ 4.41%
40% deposit (60% LTV) average five year fixed rate @ 4.27%
If you are currently considering your options, please get in touch. Initial enquiries are free and no obligation.
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