He explained: 'At a 95 per cent LTV, the mortgage rate is 5 per cent, but at a 90 per cent LTV, the mortgage rate is 4.5 per cent.'.
'Yeah, you're way past 95, but you still only have a 95 per cent LTV, which means you're going to be getting a mortgage rate for people in the 95 per cent LTV category.'.
Martin Lewis reveals the 'single biggest factor' that will affect first time buyers' mortgage rates As first time buyers navigate the housing market and mortgage applications, Martin Lewis has revealed the main factor they must consider that will impact the mortgage rate they'll pay.
The expert also pointed out that the lower your LTV, the better the mortgage rate you can expect - with the sweet spot being around a 60 per cent LTV.
You have a 90 per cent LTV, a 90 per cent loan-to-value.
