Two lenders returned to the market at 95% loan to value last week supporting first time buyers.
Both Bank of Ireland and Accord Mortgages came to market with a 5 year fixed rate priced at circa 4%. Interestingly, neither of these 95% products are supported by the new Government mortgage guarantee scheme.
However, had the scheme not been announced it is unlikely we would have seen a return to 95% from these lenders so quickly.
With the mortgage guarantee scheme launching in a couple of weeks we are keen to see the interest rate that will be offered and the effect this will have on both 90% and 85% products currently available.
This 95% launch simply goes to show the confidence lenders have that we are escalating into a strong housing market for 2021 which is a really positive sign.