MFYC March Newsletter

A warm welcome to all our clients as spring arrives and we bring you our March newsletter.

The past year was incredibly busy and we were delighted to welcome many new clients. A large
number came through referrals from existing clients, which we truly appreciate—thank you for
your continued trust and support.

In this month’s edition, we’ll share details about Santander’s new 98% Loan-to-Value mortgage
products, along with an update on the current housing market.

Santander launches five-year, 98% LTV ‘My First Mortgage’ helping first-time buyers achieve homeownership dream

Santander UK has introduced ‘My First Mortgage’, a new 98% loan-to-value (LTV) five-year fixed-rate mortgage designed to help first-time buyers step onto the property ladder sooner. The product offers a 5.19% interest rate, no product fee, and £250
cashback.

Exclusively available through Santander mortgage advisers and brokers, the new product responds to research showing that 52% of UK adults cite saving for a deposit as the biggest barrier to home ownership.

Borrowers will need a minimum deposit of £10,000, with loans of up to £500,000 available over terms ranging from five to forty years. Lending between 95% and 98% LTV applies only to existing houses, reflecting data that two-thirds of first-time buyers purchased a house in 2025. Standard affordability checks apply, including a maximum income multiple of 4.45x. Customers buying new-build homes or flats can borrow up to 95% LTV.

Beyond this new product, Santander continues to support first-time buyers through:

• Up to 95% LTV on new-build houses and all flats
• Acceptance of gifted deposits from family members
• Borrowing up to 5.5x income (subject to criteria)
• Allowing up to four applicants on direct applications to improve affordability
• Free standard valuation on most mortgage products

For more information on my first Mortgage, visit:
https://www.santander.co.uk/personal/mortgages/my-first-mortgage

House prices appear to be off to a steadier start in 2026 according to Nationwide’s latest house price index, rising by 0.3% in February which matches the 0.3% uptick seen in January. Annual house price growth was also unchanged, rising by 1%, which brought the average house price to £273,176.

This suggests a gradual recovery compared to the dip seen towards the end of last year, we are unlikely to see a marked uplift in house prices for a while yet.

While lenders are vying for business and bringing cheaper products to the table, as well as higher loan to income and loan to value offerings, affordability is still stretched. With the prospect of further rate cuts throughout 2026, many will be holding out in hopes of securing a cheaper deal later down the line. Until rate cuts are more clearly evidenced and there is significant downward pressure on mortgage rates, prompting more people to put moving plans back in motion, we can expect house prices to remain relatively stagnant.

Have you future-proofed your income?

What if you sustained an illness or injury and were unable to work. How would you fund your current lifestyle? And if you have a family, how would you continue to support them? Income protection is a plan that will pay a monthly proportion of your salary to help see you through the unexpected.

The policy is designed to pay out up to 60% of your gross salary, monthly (tax free) should you be unable to work due to accident or sickness (e.g. mental health/broken bones/bad back/more serious illnesses etc).

If you would like to know more about this and obtain a quote then please contact one of our helpful and friendly team members.

We do not charge a fee for this service.

Clare - clare.viner@mortgagesforyachtcrew.com

Emily - emily.brook@mortgagesforyachtcrew.com

5* Reviews

The smoothest mortgage application!

 "We had such a smooth mortgage process, Clare was fantastic and as a buyer securing the mortgage was so stress free. The amount we were able to borrow was massively more than doing it solo, getting wages paid in Euros didn't seem to exclude us from a good mortgage rate with a well known lender.
I wish we had used Mortgages for Yacht Crew years ago but will 100% be using again and highly highly recommended!" 

If you have any questions or concerns about your fixed rate mortgage, please do not hesitate to contact any of us here at Mortgages for Yacht Crew or our sister company Marine Accounts for guidance. Don’t forget that you can get yourself locked into a new deal 6 months prior to your fixed rate coming to an end.

This does not mean you are stuck if rates fall again, when the time arrives, it simply allows you to have the best rate available at that time. We will always check the best rates one week before it’s due.

If you think you may be affected by any of the topics above and are unsure of your position, you can contact clare.viner@mortgagesforyachtcrew.com for advice.

Kindest regards,

Clare Viner
Principle Mortgage Advisor
T: 07773 355523

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