Head of Content
Mortgage Advisor & Director
Welcome to our guide to 30% LTV mortgages. Here you will learn what rates are available for these mortgages, how to get the best deal and much more.
What is a 30% LTV mortgage?
A 30% LTV mortgage is a mortgage with a loan-to-value ratio of 30%, meaning that the loan covers this exact percentage of the property’s value or purchase price.
You would be in a position to secure a 30% LTV mortgage if you have a substantial deposit to put down (70%), or are remortgaging and have paid off 70% of your mortgage debt.
Borrowers with low LTV ratios like this are generally attractive to mortgage lenders and stand a good chance of being offered the lowest interest rates on the market.
Advantages of a 70% mortgage deposit
With a mortgage deposit/equity that covers 70% of the property’s value or purchase price, you will be in a strong position to secure a favourable deal on a mortgage or remortgage.
The benefits you could reap with a 30% loan-to-value ratio are as follows:
- Superior rates: Lenders tend to reserve their lowest mortgage rates for borrowers with high deposits or low LTVs (such as 30%).
- Borrow more: Your salary might stretch further if you are applying for a 30% LTV mortgage, compared to someone with a high LTV. This is because some lenders use a higher income multiple (5-6 times salary) for applicants with a deposit this high.
- Wider product choice: Some lenders only offer their longest fixed-rate mortgages and the interest-only repayment option for borrowers with low LTVs.
- Flexible features: There are lenders who offer greater flexibility to borrowers with very low LTVs, such as 30%. Features you could take advantage of include the option to make uncapped overpayments and take payment holidays.
- Higher approval chances: If there are risk factors to your application, such as bad credit, limited accounts (self-employed applicants), or non-standard construction on the property, putting down a deposit as large as 70% can help you get approved.
In addition, there is also the benefit of becoming mortgage free much quicker if you can put down a 70% deposit, compared to someone with a higher LTV.
30% LTV mortgage rates
The best mortgage rates on the market kick in at between 50% and 60% LTV, so needless to say, with a deposit of 70%, you will qualify for them as long as there are no other risk factors.
The table below shows examples of the kind of deals available to borrowers with 30% LTV:
|
Mortgage Lender |
Rates at 30% LTV |
Products Available |
|
4.09% to 6.14% |
2, 3, 5 and 10-year fixes & 2-year tracker mortgages |
|
|
4.17% to 5.68% |
2 and 5-year fixes & 2-year tracker mortgages |
|
|
4.04% to 6.24% |
2, 3, 5 and 10-year fixes & 2-year tracker mortgages |
|
|
4.19% to 5.39% |
2 and 5-year fixes & 2-year tracker mortgages |
These rates were accurate at the time of writing (December 2024)
Compare rates and deals for free
You can compare the latest 30% LTV mortgage rates and deals from lender across the market for free on Teito, or have one of our brokers do it for you, below:
Compare 30% LTV mortgage rates from 90+ lenders
Buy-to-let mortgages
Although buy-to-let mortgages generally have higher rates and deposit requirements than residential, 30% LTV would be more than enough to access the best deals. Like with residential lending, the best rates tend to kick in at between 50% and 60% LTV.
With a deposit this high, buy-to-let mortgage applicants can:
- Get approved for higher risk property types, such as HMOs
- Secure a mortgage with no landlord experience
- Get a multi-property mortgage to cover a large portfolio
- Secure a holiday let mortgage
Many of the same benefits of high deposit residential mortgages - such as lower rates, relaxed affordability criteria and flexible features - will also apply here.
How much your mortgage will cost
You can work out how much the repayments on your 30% LTV mortgage will be by deducting your 70% deposit from the amount you need to borrow and entering the total into the calculator below, along with an interest rate, term length and repayment type:
Why choose Teito for your mortgage needs?
You can use Teito to compare rates on 30% LTV mortgages from more than 90 lenders across the market, and book a consultation with one of our brokers if you need some help.
Here are just some of the reasons people choose us for their mortgage needs:
- It takes seconds to access the latest mortgage rates
- Our brokers have access to exclusive deals
- We are 5-star rated on leading review websites
- You can secure your agreement in principle in minutes
Ready to compare the latest mortgage rates and take advantage of a free, no-obligation chat with one of our mortgage brokers? Get started here.
FAQs
Yes. A mortgage deposit of 70% would be considered high and is more than enough to grant you access to the best deals on the market, assuming you are eligible for them.
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.