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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.
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