Nearly 1 million households took out five year fixed rate mortgages in 2021, leaving many borrowers facing higher repayments as those deals begin to expire, according to analysis by a comparison website. Those are the average rates across all lenders for a 75% loan-to-value (LTV) mortgage, meaning buyers need a down payment of at least 25% of the purchase price. Both cases assume a 60% LTV mortgage, meaning buyers need a deposit of at least 40%. The measure is aimed at supporting borrowers struggling with deposit and moving costs at a time when affordability pressures remain high despite a recent easing in mortgage rates. Santander mortgage dealsSantander (BNC.L) withdrew its 60% LTV mortgage products for first-time buyers on borrowing of less than £250,000 on two- and five-year terms on 19 September.