Boost for first time buyers with 10 per cent deposit as mortgage rate falls below 6 per cent for first time in three years | Mail Online

Boost for first time buyers with 10 per cent deposit as mortgage rate falls below 6 per cent for first time in three years | Mail Online

The typical mortgage rate paid by people with just a 10 per cent deposit has fallen below 6 per cent for the first time in more than three years.
The average cost of a 90 per cent loan-to-value (LTV) mortgage, typically taken out by first-time buyers, is now 5.98 per cent - 0.4 per cent less than in May last year.

In a further boost to people trying to get on to the property ladder, the number of different deals available to those with only a 10 per cent deposit has soared by 41 per cent during the same period to 229.