Can I get a mortgage below 60% LTV?

What does “below 60% LTV” mean?

LTV (loan-to-value) compares the mortgage amount you want to borrow with the value of the property.

• LTV = mortgage size ÷ property value
• A lower LTV usually means you’re putting in more of your own money (either as a deposit when buying, or equity when remortgaging).

So if you’re asking, “Can I get a mortgage below 60% LTV?”, the answer is generally yes—but the key question is often whether you’ll see a meaningful difference in the mortgage pricing compared with a 60% LTV deal.

Why 60% LTV is such an important threshold

Mortgage lenders group products into LTV bands (often in 5% steps). As LTV drops, lenders typically view the loan as lower risk because there’s more equity in the property.

In practice, this often leads to a pattern where:

• Rates can improve as LTV falls towards 60%
• Beyond 60%, the improvement can be limited because lenders don’t always price separate products for every lower LTV level

A helpful way to think about it is that 60% is a common point where you may reach a higher tier of pricing for that type of mortgage. Even if you’re well below 60%, lenders may still treat your loan similarly to a 60% LTV borrower for pricing purposes.

What you can usually expect with LTV below 60%

Having a loan-to-value below 60% can be beneficial, particularly when buying or remortgaging:

• Potential access to competitive rates (often within the same broad pricing band as around 60% LTV)
• Potentially more lender choice depending on the exact mortgage type and your circumstances
• A stronger overall risk profile in the eyes of lenders, which can help in some cases

That said, the rate you’re offered will still depend on other factors such as the mortgage term, product type, your income and affordability, credit profile, and whether the property is residential or has any special characteristics.

Is there a lowest LTV mortgage?

There’s usually no fixed minimum LTV in the way people sometimes assume. However, there is an important practical limit that can affect whether you can get a mortgage at very low LTV.

Minimum loan size can be the real blocker

Many lenders have a minimum mortgage amount they will lend on a residential property. If your required borrowing is below that minimum, they may not offer you a mortgage—even if your LTV is extremely low.

Minimum loan sizes vary by lender and can change over time. Your broker can check the current position for the lenders you’re considering.

If your loan amount is small, what options are there?

If your LTV is below 60% because you have a large deposit or significant equity, but the mortgage you need is relatively small, you may need to think beyond “finding the lowest LTV rate”. Common considerations include:

• Compare lenders’ minimum loan sizes: different lenders can have different thresholds, so the same borrowing need may be possible with one lender and not another.
• Consider what happens at the end of your current deal: if you’re remortgaging, your current lender’s options (including standard variable rate arrangements) may be part of the decision-making process.
• Review whether borrowing slightly more is worth it: increasing the loan amount can sometimes move you above a lender’s minimum. However, borrowing more increases total interest costs, so it’s important to weigh up the trade-off.
• Check alternatives for very small balances: for some borrowers, comparing the cost of staying on a lender’s standard rate versus other borrowing options (such as a personal loan) can be relevant—especially where mortgage minimums make the mortgage route difficult.

Does a lower LTV always mean a better deal?

Not necessarily.

While a lower LTV can improve your position, the pricing step-up often happens as you approach 60%. Once you’re below that level, you may not see a dramatic rate reduction compared with a 60% LTV mortgage.

Also consider the wider financial picture:

• A very low LTV can mean more of your money is tied up in the property.
• You might have other priorities for your savings, such as home improvements, building an emergency fund, or investing.

The “best” outcome is usually the one that balances mortgage cost, flexibility, and how you want to use your capital.

Key takeaways

• Yes, you can generally get a mortgage with LTV below 60%.
• 60% is a common pricing threshold, so rates may not improve much further once you’re below it.
• Your ability to borrow at very low LTV can be affected by minimum loan size rules.
• The most suitable option depends on the full picture: property, mortgage type, your finances, and the amount you need to borrow.

FAQs

Can I get a better deal with a LTV lower than 60%?

You may not see a significant rate difference once your LTV is below 60%, because lenders often price within LTV bands. That said, there can be exceptions depending on the lender, product type, and your overall circumstances.

How can I lower my loan-to-value?

Common ways include:

• increasing your deposit when buying
• paying down your existing mortgage to build equity
• benefiting from property value growth by the time you remortgage

Is it always better to have the lowest LTV possible?

Not always. A lower LTV can improve mortgage pricing and lender options, but it also means more capital is tied up in the property. The best approach is usually the one that fits your wider financial goals and risk balance.