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5 Dec 2019

Go Direct Personal Finance News  2009

Higher LTV mortgages returning to the market

The mortgage market has seen a gradual increase in the number of products offering higher loan-to-values (LTVs), providing some relief to borrowers with limited deposits.

Total number of mortgages split by loan-to-value

 

Total number of residential mortgages

Total number of 90% LTV deals

Total number of 85% LTV deals

Feb 2011

2811

214

560

Aug 2010

2438

185

454

Feb 2010

1971

144

310

Source: Moneyfacts.co.uk 16.2.11

 

Average 2 Year Fixed Rate split by loan-to-value

 

90% LTV

75% LTV

60% LTV

Feb 2011

6.09%

4.03%

3.86%

Aug 2010

6.15%

4.11%

4.02%

Feb 2010

6.48%

4.27%

4.29%

Source: Moneyfacts.co.uk 16.2.11

 

Louise Holmes, spokesperson for Moneyfacts.co.uk, commented: “Higher loan-to-value mortgages are making a steady return to the mortgage market. This will be welcome news to borrowers with small deposits, particularly first time buyers who have struggled to find products which meet their needs.”

 

“Lenders became risk averse during the height of the credit crunch by withdrawing their higher loan-to-value mortgage products. Over recent months some lenders have increased their rates and expanded their number of higher loan-to-value deals, giving indications that the market could be returning to a competitive, rather than risk-based state.”

 

Moneyfacts Group
Moneyfacts is the UK’s leading independent provider of personal financial information and our data is used and trusted throughout the financial industry.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

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