85% ltv mortgages, those that allow you to borrow 85% or more of your property's value, may be harder to find now than a few years ago, but they are still available.
In fact a wide range of different types of mortgages are still available at this level of loan to value.
These include a range of regular fixed, discounted or tracker deals, as well as offset and current account mortgage deals 85% ltv.
The choice of 85% buy to let mortgages is more limited as lenders usually require a deposit of at least 25% before extending a buy to let mortgage, however they are still available.
The same can be said for 85% mortgages first time buyer deals so you should still be able to get on the property ladder with a 15% deposit.
When seeking the best mortgage deal 85% ltv for your circumstances, you should not automatically assume that the one with the lowest interest rate is the best 85% mortgage deal out there.
Instead you should pay attention to the fees to be charged on the deal, in particular the application fee as this could add a significant cost.
You also need to check whether there will be a higher lending charge as some lenders will impose this charge for 85% ltv mortgage loans, while others will not.
Make sure to also check the flexibility of the mortgage deal too and find out whether you're able to make overpayments or underpayments should you want or need to.
Checking your eligibility for the deal before you apply is also essential as applying for a mortgage deal you don't stand a chance of getting is not only a waste of time and money, but also could harm your credit rating and in doing so impede your chance of getting approved for a mortgage deal at all.
