60% LTV Mortgage

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Why Choose Ascot Mortgages

0 %
5-star reviews on Google
years we have been as independent mortgage and protection brokers
0 %
customer satisfaction for finding the best deals on the UK market
£ 0
total donated to various charities

Why Choose Ascot Mortgages

0 %
5-star reviews on Google
£ 0
total donated to various charities
years we have been as independent mortgage and protection brokers
0 %
customer satisfaction for finding the best deals on the UK market

Navigating the mortgage landscape can be a daunting task. As a seasoned mortgage advisor in the UK, I often hear clients ask about the best deals and options they should consider for their financial well-being. One such option that captures attention is the “60% LTV mortgage.” This mortgage type offers competitive rates, manageable repayments, and greater financial flexibility, making it a popular choice for borrowers who have saved a substantial deposit. Ascot Mortgages is pleased to provide this option for you, ensuring you have access to one of the most financially advantageous mortgage options available in the market.

What Our Clients Say About Us

5.0 Based on 122 reviews from review us onLucy B. ★★★★★ Having Phil as my mortgage advisor was great from the very start! He is down to earth and speaking to him was always a pleasure. The kindness, compassion and support I have been given all the way through what can be a stressful process was immeasurable. Phil and Jardelle worked as a solid team and was able to make me feel at ease all the way through buying my first home. The team were always available and the communication between everyone was always clear and I felt safe in the hands of the company as a whole. Thank you for helping me buy my first home!Flora R. ★★★★★ I worked with Richard (Protection Adviser) for a couple of days to sort out life and critical illness insurance. Absolutely brilliant, he found me and my husband the perfect policy. Very knowledgeable and easy to get on, he definetely makes things easy to understand. Thank you for the great service provided.Matthew R. ★★★★★ I've dealt with Phil at Ascot Mortgages for a while now and Phil always comes back back to me with the right plan.Keep the good work up!rafal W. ★★★★★ I would thoroughly recommend Phil Greenwood at Ascot Mortgages ltd to anyone looking to seek advice on purchasing a home.Phil was absolutely fantastic. He made the process very smooth and easy and was always there to answer any questions I had.Shahid L. ★★★★★ This company has been truly amazing in constantly giving me the support and help i need for my mortgage and for their continuous work ethic guiding customers like myself and educating them into making the best possible decisions. My special mention goes to Phil Greenwood who deserves every single credit for his brilliant work and communication skills. The more I got to work with Phil, the more he gained my respect as he is a hugely likeable man and possibly the best mortgage advisor yet. Even after I finished my time with Ascot Mortgages, I will never lose my trust in the company and I hope they exceed their business and gain even more success and popularity.Best wishes,Shahid Latif and familyPretty L. ★★★★★ Phil helped me renew my mortgage. He was great at keeping me updated with any rate changes and secured a lower rate than at the time my mortgage went through. Thank you Ascot for your supportNikki E. ★★★★★ Huge thanks to Richard Johnson for sorting out all of my insurance policies! I had accumulated a variety of life cover and various other policies over the years that all needed a good review and refresh. Richard was extremely patient and helped me to remove the duplication and choose the best cover to suit our current needs. I have used Ascot Mortgages for over 12 years and have met several members of the team, always finding the right help and support to work through what can be a complicated and stressful time. Thanks again, Richard!Aamir R. ★★★★★ As first time buyers we had very little understanding of how to go about applying for a mortgage. Phil was so helpful in cutting through all of the formalities and helping us to decide which mortgage would be best for us also ensured we collated all the details needed and kept us up to date on progress. The process of finding the right house was very stressful but the process of choosing and applying for the mortgage and life cover has been so straight forward that, at times, we were worried it was all a bit too smooth! Thank you for guiding us through this so professionally and with real understanding and personality.Andrew T. ★★★★★ Working with Richard at Ascot has been a great experience. He listened to us and was very professional throughout. This was our first experience with Richard but we've been using Ascot now for 6-7 years. Thank you all at AscotAngie B. ★★★★★ Always give a great service and find you a mortgage in a timely fashion.Alison is awesomeAndrew M. ★★★★★ We have used Ascot Mortgages for over 5 years now and have had excellent service throughout, primarily with Alison and Kevin. Our latest dealings have been with Richard Johnson who although new to us (and to Ascot I believe) has once again provided the 5 star level of service we have come to expect. His product knowledge is excellent offering a range of options supported with consistent communication and updates, always available on the phone or on email every step of the way.Ali H ★★★★★ Excellent service, a big thanks to Natalia Barry for her excellent support with my buy to let mortgage application, Natalia was professional, transparent, and kept me informed during all the process, and thanks to Jason jones for his assistance and support.david R. ★★★★★ I have dealt with Ascot for many years now and will always go back, recently had all my insurances re done by Richard Johnston at the firm, excellent service, communication and swift actions by Richard. Great deals on all three insurances and would recommend anybody to go to Richard for help. Thanks Richard 👍Eve Alexandra C. ★★★★★ We used Ascot Mortgages to purchase a home as first time buyers, Ellie assisted us with this and went above and beyond to ensure everything went smoothly, all questions were answered, and any queries were solved.As first time buyers, myself and my partner were quite nervous and clueless as to what to expect when getting a mortgage and what not, and Ellie made this so simple and explained everything in a way that we thoroughly understood what was happening with our house buying journey, without it being pure jargon.I can't thank Ellie enough, she truly has been a star during the whole experience and is an asset to Ascot Mortgages.She is someone who I would definitely recommend to friends and family if the opportunity arises, and has made this whole experience a very stress free and exciting one!Thank you for everything Ellie!Emma W. ★★★★★ Alison helped me to get the right mortgage for my current situation and was very supportivehelen L. ★★★★★ Phil Greenwood dealt with my recent remortgage, he made sure I had the best product to fit our HMO criteria. Then chased solicitors for me and made sure I completed around the date I wanted to avoid my ridiculous rate I was about to be switched to. Thanks Phil, great job! Ready for my next mortgage now so I will be coming back 🙂Mark C ★★★★★ Excellent service from an excellent representative. Very professional and helpful company. Thank you for all your helpDamian L. ★★★★★ I recently purchased a buy-to-let from Auction and Ascot Mortgages, in tandem with Ascot Bridging Finance, supported me through the whole process. Once the property purchase via a bridging loan was complete, Ascot Mortgages worked out the best options for me, despite the Banks rising interest rates and spiralling UK inflation and managed to secure me a competitive mortgage rate for that property. I wouldn't hesitate in going back to Ascot Mortgages in the future and look forward to working with them again in the near future. Thank you for everything you've doneJuliet B. ★★★★★ Thank you to Alison for helping us and sorting out our mortgage. Swift, reliable and very helpful. Very much appreciated. God bless you abundantly 👍👌🤝gareth P. ★★★★★ Been with Alison and team for more than 25 years. Needless to say, very happy...Jo T. ★★★★★ We have been using Ascot Mortgages for the last few years and they have done 11 buy to let products for us.We have found Alison, Phil, Jason, Jardelle and the team to be excellent at finding the best product for us and to work at pace when we are buying from auction and have a deadline to meet.Communication is very good and nothing is too much troubleBen H. ★★★★★ I can't recommend Ascot Mortgages highly enough.We have used them for all of our Mortgages . They are professional and friendly and have walked us through all our options, they always have the time to talk to you and go the extra mile to get you the best deal. It wont be long till I'm calling on their services again, I wouldn't go anywhere else.If you want a mortgage, there's only one place to go!Dog J. ★★★★★ Ascot went the extra mile to help me acquire a mortgage. With the help of Jason and Ellie I was able to get a competitive rate after 3 other firms had told me they couldn't help me. Great levels of communication throughout, I would highly recommend!Ursula B. ★★★★★ Alison was very friendly and professional in securing the right bridging for us and at a very competative price. This ensured that we were able to place an immediate offer and not miss out on our forever home. Later her help and support in finally getting our completion over the line was nothing short of a miracle. I would strongly recommend both Alison and the team at Ascot Mortgages.primrose C. ★★★★★ ALISON IS BY FAR THE BEST IN THE GAME. ALL WE CAN SAY IS THANK YOU SO MUCH. They are passionate on customer service, even in my frustrated time Alison, Jadelle, Ellie I could name them all. May the good LORD BLESS YOU.js_loader

Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:


Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:


What is a 60% LTV Mortgage?

LTV stands for “Loan-to-Value,” a term used to describe the ratio between the loan you’re taking out and the value of the property you intend to buy. In a 60% LTV mortgage, you are borrowing 60% of the property’s value, and the remaining 40% comes from your deposit. This is often referred to as a 40% deposit mortgage. 

  • Loan Amount: The money you borrow from the lender.
  • Property Value: The full market value of the property you aim to buy.
  • Deposit: The initial sum of money you pay upfront.
  • LTV: (Loan Amount/ Property Value) x 100

For example, if you want to buy a property worth £300,000, a 60% LTV mortgage would mean:

– Loan Amount: £180,000

– Deposit: £120,000

– LTV: (180,000/300,000) x 100 = 60%

Mortgage Repayment Calculator

How Do 60% LTV Mortgages Work?

60% LTV mortgages operate like other standard mortgages but offer advantages like lower interest rates due to the lower risk involved for the lender. Here’s how it typically works:

  1. Application: You apply for a 60% LTV mortgage with your chosen lender.
  2. Approval: The lender assesses your financial situation, credit score, and the property you wish to buy.
  3. Offer: If approved, the lender will make you a mortgage offer, detailing the terms, rate, fee, and repayment structure.
  4. Completion: Once you accept the offer, you pay the deposit, and the lender provides the 60% loan amount, enabling you to complete the property purchase.
  5. Repayment: Over the mortgage term, you make regular repayments covering the interest and, usually, some of the principal amount.

Key Points to Remember:

Interest Rates: The interest rate may be fixed or variable, depending on what the lender offers and what you choose.

Fees: These could include arrangement fees, valuation fees, and other administrative costs.

Repayment Period: The duration can vary, but a 25-30 year period is common.

Why Get a 60% LTV Mortgage?

For those who have saved a significant deposit, 60% LTV mortgages present an appealing option for several reasons:

  1. Lower Interest Rates: The most attractive feature is undoubtedly the lower rate of interest that these mortgages offer. 
  2. Easier Approval: With a large deposit, lenders view you as a lower-risk borrower.
  3. Flexible Repayment Options: Many lenders offer flexibility in repayment terms.
  4. Equity: A smaller loan means you own a larger portion of your property outright, giving you more equity.

Expert Opinion:

If you have the means to opt for a 60% LTV mortgage, doing so is often in your best interest. It provides both short-term and long-term benefits, allowing you to save money in the form of reduced interest payments over the term of the loan.

What Types of 60% LTV Mortgage Rates Could I Get?

While there are several deals available in the market, the best 60 LTV mortgages are generally available in two types:

  1. Fixed-Rate Mortgages: The interest rate is set for a specified period, usually between 2 to 5 years. This allows for consistent repayments but may involve higher fees if you wish to switch before the fixed term ends.
  1. Variable-Rate Mortgages (also known as Tracker Rates): The interest rate can change based on the lender’s rate or external economic factors. These offer more flexibility but come with the risk of increasing repayments.

Alison Gibson

Ascot Mortgage Expert


Remortgaging is applied when you keep

living in your present property while applying for another mortgage deal with a new lender. Before finding out how to remortgage and get the best offers from experts like Ascot Mortgages, you have to check meeting what parameters of the deal that can help you succeed the most. The range of background factors varies a lot — from the recently changed loan-to-value ratio or your existing agreement coming to an end.

Whether you are trying to get a more beneficial deal or searching for funding to improve your home conditions, remortgaging is one of the most advantageous scenarios to consider.

Advantages of 60% LTV Mortgages

Choosing a 60% LTV mortgage comes with numerous benefits:

  • Competitive Interest Rates: You’ll generally qualify for some of the best interest rates on the market.
  • Loan Flexibility: A smaller loan allows you greater freedom to make overpayments or take payment holidays, as permitted by the lender.
  • Equity Building: With a 40% deposit, you start with a large equity stake in your property, which could be beneficial if property prices fluctuate.
  • Easier Approval: Lenders are more likely to approve your application, as the risk for them is significantly reduced.

Disadvantages of 60% LTV Mortgages

However, like any financial product, 60% LTV mortgages aren’t for everyone:

  • Large Deposit: The most apparent downside is the requirement of a substantial deposit, which is not feasible for many.
  • Lost Opportunity: The money tied up in your property could potentially earn more in other investments.
  • Market Risks: If the property market falls, your high equity stake could depreciate, although this risk is somewhat mitigated by the lower loan value.
  • Early Repayment Fees: If you choose a fixed-rate deal, you may incur charges for overpayments or early full repayment.

In conclusion, 60% LTV mortgages offer an array of benefits for those who have the financial means to secure one. As always, it’s crucial to consult with a mortgage expert to find the best product that suits your needs and financial situation. 

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A 60% LTV mortgage means you’re borrowing only 60% of the property’s value, with the remaining 40% covered by your deposit or equity. Key benefits include:

– Lower Interest Rates: Since lenders perceive a lower risk with a higher deposit, they often offer more competitive interest rates for 60% LTV mortgages.
– Greater Chance of Approval: A larger deposit often means a better likelihood of mortgage approval as it demonstrates financial stability and commitment.
– Smaller Monthly Repayments: With a lower loan amount and potentially reduced interest rates, monthly repayments might be more manageable.

Yes, it is possible to secure a 60% LTV mortgage for a second home or investment property. However, the criteria might be slightly different compared to a primary residence, and interest rates might be higher. Lenders will consider the potential rental income (for buy-to-let properties) and any other associated costs when assessing eligibility.

As with most mortgages, there can be various fees associated with a 60% LTV mortgage. These might include:

– Arrangement Fees: Charged by the lender for the mortgage product selected.
– Valuation Fees: For assessing the property’s value.
– Early Repayment Charges: If you repay the mortgage ahead of the agreed product term.
– Legal Fees: For conveyancing processes.

It’s important to discuss with your lender or mortgage advisor to get a full breakdown of all potential fees.

If you’re struggling to meet the repayments on a 60% LTV mortgage, it’s crucial to contact your lender as soon as possible. They might be able to offer solutions such as a payment holiday, changing the repayment terms, or other adjustments. If repayments are continually missed without any agreement, the lender has the right to start the repossession process. However, lenders generally view repossession as a last resort and will typically work with borrowers to find alternative solutions.

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