Borrowers with smaller deposits are punished by higher mortgage rates

It is apparent that borrowers with 5% deposit are paying an average of £324 more per month than those who have saved up a 25% deposit.

Mortgage products are at record low rates but only available to those with significant deposit and so those with lower deposit are punished by paying significantly more.

Typically it is first-time buyers with small deposits who are facing higher monthly mortgage payments

You can read the full article published in Property Reporter 

Photo by Breno Assis on Unsplash

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