It found that the average two-year fix was 82% higher at 90% loan-to-value compared with 60% LTV. Across both direct and broker channels it said the lowest rates fix at 60% LTV was 1.64%, with the cheapest at 90% LTV available at 2.99%.
The gap is even further in the variable mortgage market with the lowest 90% tracker more than twice the rate of the lowest at 60%.
Mortgage Brain said the average two-year fix had fallen by 18% since the start of the year with those products at higher LTVs falling even further. It added that the tracker market had seen little variation in the last six months.
Mark Lofthouse, CEO of Mortgage Brain, said: “Not only can this new data assist brokers when they’re conducting a mortgage search and comparing products with their clients, but lenders can also use it to ascertain the position and competitiveness of their products within the market.”
