High Street - Residential - Convici Capital

High Street – Residential

High street banks offer a diverse range of options for individuals looking to purchase residential property.

These lenders provide a range of LTVs, with some offering mortgages up to 95%. The LTV for which borrowers qualify is determined by a number of factors including personal financial position, income and affordability, property value, type and location and the credit history of the borrower. A high LTV means the borrower puts down a lesser deposit and hence benefits from increased liquidity.

Interest rates are a crucial component of any mortgage arrangement, and the rates offered by high street banks reflect prevailing economic conditions and lending practices. Borrowers can choose between fixed and variable interest rate mortgages.

Fixed-rate mortgages provide stability and predictability in monthly payments, while variable-rate mortgages offer the potential for lower initial payments but may be subject to fluctuations over time. It’s essential for borrowers to carefully consider their risk tolerance and financial circumstances when selecting an interest rate structure.

Earnings multiples play a crucial role in determining how much a borrower can borrow based on their annual income. Generally you can borrow up to 5 x your annual income, with some high street banks stretching this to 6 x annual income. These multiples are designed to ensure that borrowers can comfortably afford their mortgage payments while maintaining financial stability and quality of life.

Explore our other financing options.

High Street – Buy-to-Let Non-Resident Borrowers Private Banks P2P Lenders Self-Employed Borrowers

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