More lenders re-enter 5% deposit market

More lenders are launching 5% deposit mortgages onto the market in a further boost to first-time buyers. New deals announced by Metro Bank and Cambridge Building Society are not part of a new Government-backed mortgage guarantee scheme which was launched this week to increase the availability of 5% deposit loans. Major lenders including Halifax, HSBC UK, Barclays, NatWest and Santander are taking part in that scheme and unveiled new 5% deposit products earlier this week. The average two-year fixed-rate at 95% loan-to-value (LTV) is now 4.02%, down from 4.47% on April 1st, according to Moneyfacts. The average five-year fixed rate is 4.17%, down from 4.32%.

The Courier (23/04/2021) The I (23/04/2021) The Times (23/04/2021)