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The property market has experienced a resurgence of low-deposit mortgages with increasing numbers of lenders offering 90% loan-to-value (LTV) products. The low-deposit comeback is likely to initiate a further rise in the demand for property from first-time buyers and those who are still holding their breath for a much-wanted stamp duty holiday extension.

Research by Moneyfacts, the financial information service, has revealed a staggering increase in the number of mortgage deals in recent weeks – from 160 deals available on 1 January to 277 on 12 February. But, more significantly, the availability of 90% LTV products leapt from 32 to 47 in the same period and, with cashback deals for first-time buyers with a 10% deposit increasing to 83 from 50 just a month ago, there’s fresh hope for those wanting to get onto the property ladder.

‘We’ve seen a surge in the availability of low-deposit mortgages since the start of the New Year,’ revealed Alain Amos, Managing Director of Charters Financial Services. ‘Before Christmas, the restrictive conditions of the few high LTV providers around had made it difficult, if not impossible, for many prospective borrowers to take advantage of products that were on offer for limited periods.

‘Fast forward just a few weeks and, with the earlier stipulations being removed from what are now core range products for the majority of high street lenders, low-deposit mortgages have made a welcome comeback. There is now a real opportunity, in particular for many first-time buyers, to join the mortgage market having been locked out of it for much of 2020.’

Indeed, Eleanor Williams, finance expert at Moneyfacts.co.uk, has pointed to the potential for a concrete strengthening of the first-time buyer market:

‘There are of course still hurdles for these borrowers to overcome,’ she explained. ‘House prices inflated quite significantly last year – although early indications are this may be slowing in 2021 – and savings rates have continued to descend to rock bottom lows, making building a larger deposit difficult, as have high rental payments. But their options have been steadily increasing and, added to the news that the homebuyers using the current Help to Buy equity loan scheme have a further extension on the deadline for completions, there is hope that 2021 may see more potential homebuyers take that first step onto the property ladder.’

If a low-deposit mortgage sounds appealing, the renewed scope for a great deal makes this is the perfect time to speak to a mortgage broker who can give you all the advice and support you need in choosing the best deal. Contact our team of specialist mortgage experts and we’ll talk you through your options.

Need more space? Why not think about remortgaging?

If you’re after home improvements, a special purchase, or access to a lump sum for a home payment, we can help find the right mortgage that will keep your payments low over a term that suits you best.⠀

Find out more on remortgages: http://bit.ly/CFSremortgages

In March, amidst the worry and concern surrounding COVID-19 which had gripped the world as well as the nation, and as a measure to help soften any further blow the crisis may have, the Bank of England cut the bank rate to an all-time low of 0.1%.

This has been positive news for anyone looking to save money by remortgaging.

Due to the situation we find ourselves in, some have been made redundant, had to sacrifice a number of working hours per week or been furloughed under the government scheme. It is these types of changes which may meaning revaluating our financial circumstances.

And with mortgage payments the most likely largest outgoing each month, the opportunity to reduce this and taking advantage of the new all-time low interest rate is too good to miss out on!

It is very much business as usual where remortgaging is concerned so there are options open to you. We know, through experience, that some will wait until their current fixed rate deal is expiring before moving forward. You can switch many months before without incurring any early repayment charge. If you don’t take action, your lender will automatically switch you onto their Standard Variable Rate – this is usually a higher rate and an unnecessary expense you could easily avoid.

Speaking to an expert Mortgage and Protection Adviser means you can rest assured they will find the right deal for you. They will also be able to advise as to where you have any early repayment charges against your current mortgage – the answer to this will impact on how you move forward.

We have access to 1,000’s of mortgages with over 90 lenders and 12,000 products. Call us on 08454 500200 for tailored advice about how we can help you.



There are a number of reasons why people choose to remortgage – the most popular reason is to borrow at a lower interest rate than your current mortgage deal. If you have a fixed-rate mortgage deal that’s coming to an end or you’ve already moved to your lender’s follow-on or standard variable rate, a remortgage can enable you to benefit from a lower rate. Likewise, if your home is worth more than when you bought it, your loan-to-value (LTV) ratio could mean you’ll have access to much better deals.

If you need to raise money for home improvements or a big purchase, a remortgage can release the funds to help make it more affordable. You might want to take advantage of low interest rates to consolidate your debts and make a single, affordable monthly repayment.

It may be that your work, family or financial circumstances have changed and you need to switch to a new mortgage product that reflects your new situation – a remortgage can be a great financial move for homeowners.

Remember that a remortgage as with any mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

If you’d like to find out more about remortgaging your home, talk to our team of expert mortgage advisers and we’ll go through your options with you and find a product and a rate that’s the right fit for you. Call us on 08454 500200 or click here to make an enquiry.

As with any mortgage process, remortgage timescales can take anything up to two months depending on how complicated your application or circumstances are. If you’re remortgaging to save money when your existing fixed-rate mortgage comes to an end, ensure you give your application sufficient time to avoid a more expensive follow-on or standard variable rate.

You’ll need to go through a mortgage interview to ensure you’re eligible for a remortgage. Lenders apply strict affordability criteria to remortgage applications and stress tests to see if you’ll be able to meet your monthly repayments should interest rates change.

Your lender will also want to conduct a valuation of your home to ensure your loan-to-value (LTV) ratio is sufficient for its products. If the value of your home has decreased and you’re in a negative equity situation, you might want to wait for house prices to rise or you’ll have to make up the shortfall from your own pocket.

Finally, the legal process will take time. Your solicitor will have a number of conveyancing matters to complete, including Land Registry searches and other formalities that may hold up the process.

If time is of the essence, it’s worth arranging a remortgage through your existing lender. The transaction will then be dealt with as a product transfer so the legal process could be substantially reduced.

If you’re keen to remortgage your home, you should take advice from an independent mortgage broker who will be impartial and have access to a wide range of products on the market. Call us on 08454 500200 or click here to make an enquiry.

Why a remortgage may be your best option.


'Remortgaging' has been a term associated with raising money against your property to consolidate debts or extend your home however this has changed. In the consumer-led, comparison driven world that we all now live in, many of the remortgages taking place in the UK are now customers switching provider to secure a better deal that saves them money.

It’s thought that as many as 40% of UK Homeowners with a mortgage are currently paying more interest than they might have to because their mortgage loan has moved onto their providers standard variable interest rate. Mortgage lenders now have mortgage deals designed for people who are on, or are about to fall onto their current lenders standard variable rate and wish to secure a better deal.

Many of the usual inconveniences of switching your mortgage provider have now become avoidable. With working out which lender is offering you the best deal, being dealt with by a qualified mortgage adviser and many of the costs you would usually find with switching mortgage provider including the cost of the legal & property survey processes often being paid for by the new provider.

With the Bank of England bringing the base rate down to a historic low of 0.1% in recent weeks many UK mortgage providers have brought out new fixed rate products that pass this saving on to new mortgage customers.

There has likely never been a better time to sit down with an adviser and discuss switching provider. Call us on 08454 500200 or email hello@chartersfinancialservices.co.uk to find out more.

Chawley Soper, Charters Financial Services, Mortgage & Protection Adviser.

Remortgaging your home can make good financial sense if you’re a homeowner and want to take advantage of a better deal, but there are a number of advantages and disadvantages that you should be aware of before you start a remortgage application.

Here are the key advantages and disadvantages of remortgaging:

The advantages:

  • You can borrow at a lower interest rate than your current mortgage deal.
  • You can use some of the equity in your home to release funds.
  • You can consolidate your debts into one affordable payment and reduce your monthly outgoings.
  • You can move to a new mortgage product that suits your changing financial circumstances.

 The disadvantages:

 You may need to pay a fee when you remortgage – and that could make your new lower mortgage rate less rewarding.

  • You’ll be using your home as security for your remortgage, which means it could be repossessed if you don’t keep up with your mortgage repayments.
  • If you’re taking your remortgage over a longer term than your existing mortgage, the total cost you repay will increase.

If you’re interested in remortgaging your home and would like to know if you’re eligible, please talk to our team of expert mortgage advisers and we’ll talk you through your options. Call us on 08454 500200 or click here to make an enquiry.

A remortgage refers to a new mortgage that you take out on your home or other property you own to either release cash or to replace your existing mortgage. Around a third of all UK home loans are remortgages and by far the biggest reason for remortgaging a home is to save money.

If you’re coming to the end of a fixed-rate deal or simply want to reduce your costs, you can save a lot of money by switching to a remortgage at a cheaper rate. You’ll want to remortgage before your existing rate ends, so your monthly repayments don’t move to a standard variable rate (SVR) – so start looking into this six months before your deal ends. You could be subject to an early repayment charge and/or an exit charge if you’re still tied into a fixed-rate deal.

You can also remortgage to release equity in your home – if you have a big purchase to fund, home improvements to make or want to pay for your retirement, taking out a new deal to borrow more than your existing mortgage, you can take out a cash lump sum.

Essentially, you’ll be clearing your current mortgage with funds raised from your remortgage and using your home as the security for your new loan. You’ll then make mortgage repayments to your new lender with a new set of repayment terms. You can remortgage with your existing lender, which may save time and money, but you’ll want to talk through your options with your mortgage broker.

If you’re thinking of remortgaging your home, you should talk to an independent mortgage adviser who’ll have access to the best rates, deals and remortgage products. Talk to our team of expert mortgage advisers today to find out how much you could save with a remortgage. Call us on 08454 500200 or click here to make an enquiry.

We have used Alain at Charters Financial Services to purchase a property and the service was first class. Alain kept us informed throughout the whole process and I would highly recommend him and Charters Financial services and certainly we will use Alain again in the future.

Taylor Mc

July 2020

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