90% LTV mortgages

• First-time buyers - As long as you have a 10% deposit and meet the lender's eligibility criteria, they should be able to find a 90% mortgage. But some first-time buyers may prefer to put down a larger deposit if they're able to. And others may only manage a 5% deposit.
• Those who are remortgaging - If you have 10% equity built up in your property and your initial mortgage deal has come to an end, a 90% remortgage might work for you. There are normally 90% remortgage deals available on the market, but some lenders may expect you to have a bit more equity to remortgage with them. You could use money from savings to increase your equity and get a lower LTV deal when you remortgage.

• Those who are buying to let - In most cases you won't be able to get a 90% buy-to-let mortgage. Lenders normally require at least a 25% deposit for a buy-to-let property (although the amount can vary from 20-40%). This is due to the increased risk the lender takes on with these properties.

This means your interest rate remains the same for a set period. This gives you peace of mind that your payments won't suddenly increase if interest rates rise.

This means your interest rate is subject to change during your deal period. If the rate increases, you end up paying more each month. But if it decreases, you benefit from lower payments. The main types of variable-rate deals are discount mortgages and tracker mortgages.

• Saving a 10% deposit can be manageable, even for first-time buyers
• Putting down a smaller deposit can let you keep money aside for property renovations and other projects
• You usually get better deals and rates with a 90% LTV mortgage compared to a 95% mortgage
• You're less likely to go into negative equity (when you owe more than your property is worth) compared to a 95% deal

• Those with larger deposits can get lower LTV mortgages and normally better rates
• You're more likely to go into negative equity compared to a lower LTV deal
• If a 10% deposit stretches your budget, a 95% mortgage might be more suitable to allow you to keep some money back for emergencies