Hi there

When you start a mortgage, if the deposit what you pay in the first 2 years is more than 20% (including interest) does your interest rate go down as your LTV is now less than 80%?

I.e. say you put 15% deposit down to get a decent-ish interest rate in the current circumstances and then you pay off another 5% easily in the first 2 years whilst doing a 2 year fixed plan, does your mortgage interest rate go down as you go along (do you have the option to move it to another plan with better rates because now you've paid off 20%)? Because you can get a much better interest rate when putting down 20% deposit as compared to 15%. Hope you understand what I mean.

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Many thanksJackie