70% LTV Mortgages

A 70% LTV mortgage would be considered a high-deposit agreement, but getting the most out of your deposit isn’t always easy. Here, you will learn what mortgage rates are available at 70% LTV and how to get the best deal.

What is a 70% LTV mortgage?

A 70% LTV mortgage is a mortgage with a loan-to-value ratio of 70%, which means it would cover this percentage of the value of the property it is secured against. The other 30% would come from the borrower’s deposit, or existing equity if they are remortgaging at this LTV.

Example: If you were buying or remortgaging a property valued at £200,000 and have £60,000 deposit/equity, your loan-to-value ratio would be 70%.

Is 70% LTV a good mortgage ratio?

Yes. A mortgage deposit of 30% would be roughly double the national average in the UK and 20-25% higher than the absolute minimum you need to put down to get approved.

Borrowers with lower LTVs in the 70% region are sought after by lenders because they are considered less risky. They tend to incentivise these borrowers with lower interest rates and more flexible borrowing options, but finding the ideal lender can still be tricky.

With a 30% deposit, you should have a wider range of options and incentives, including:

• Lower interest rates than borrowers with a higher LTV
• More product options, including interest-only and longer fixes
• Access to specialist mortgages, such as buy-to-let and commercial
• The ability to get approved with most types of bad credit
• The option to borrow against higher income multiples than the standard 4.5

Not all lenders offer all of the above, but our expert mortgage brokers can help you get the most out of your deposit amount finding the best 70% LTV deal that fits your needs.

What interest rates are available?

At the time of writing (June 2024), interest rates on 70% LTV mortgages are very similar to 75% LTV rates, starting at slightly over 4% in the UK residential market. Longer fixed-rate mortgages tend to have the lowest rates, while tracker mortgages have some of the highest.

There is a wide range of choice in both the residential and buy-to-let mortgage markets for borrowers with a loan-to-value ratio of 70%. You can compare rates and deals for free with Teito and access support from a mortgage broker to ensure you get the best deal.

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Buy-to-let mortgage rates at 70% LTV

The maximum LTV on most buy-to-let mortgages is usually around 75-85%, so 30% deposit is not considered particularly high in this market. That said, it will grant you access to a good range of different options at most buy-to-let mortgage lenders in the UK.

With 30% deposit, you will meet the LTV requirements for specialist types of buy-to-let mortgages, including:

• HMO mortgages
• Holiday let mortgages
• Multi-property mortgages
• First-time buyer buy-to-let mortgages

Calculate your mortgage repayments

To calculate the potential repayments on a 70% LTV mortgage, first deduct your 30% deposit from the property’s purchase price. Next, enter the resulting figure into the calculator below along with a term length, interest rate and repayment type to get some quick results.

Can you get approved with bad credit?

Whether you are approved for a bad credit mortgage usually comes down to the circumstances surrounding your credit issues, namely their age and severity. But putting down extra deposit can boost your chances too, and 30% will suffice in most cases.

With an LTV of 70%, you can potentially access mortgage deals from specialist lenders and high street providers aimed at borrowers with various types of adverse. Rates can, however, be higher for bad credit mortgages and the most severe types of adverse, such as bankruptcies, might need to be discharged full the full six years before you can be approved.

Anyone applying for a mortgage with bad credit is advised to speak to a mortgage broker first, as they often have access to bespoke deals for borrowers in this situation.

Why choose Teito for your mortgage needs?

You can compare rates and deals for 70% LTV mortgages for free on Teito, access advice from a whole-of-market broker and secure an agreement in principle quickly.

Here are just some of the reasons why our customers choose us:

• You can access mortgage rates in seconds
• Our brokers can access exclusive 70% LTV deals
• We are 5-star rated on leading review websites
• You can secure an agreement in principle in minutes

Ready to source your own mortgage and take advantage of a free, no-obligation chat with an independent mortgage broker? Get started here.