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UK 95% LTV Mortgage Availability Doubles in a year

Housing-Market / UK Housing Apr 16, 2012 - 08:56 AM GMT

By: MoneyFacts

Housing-Market

The number of mortgage products offering maximum loan-to-values of 95% has more than doubled over the past year, from just 27 to 61 today.

Deals with a maximum LTV of 90% have also increased to 316 today compared to 228 this time last year, an increase of 43%.


Date

Deals with 95% LTV

Deals with 90% LTV

Today

61

316

April 2011

27

228

April 2010

13

140

Source: Moneyfacts.co.uk 16.4.12

Combined with an increase in product volumes, average rates for high LTV deals have reduced.

Date

Average 2 year fixed 95% LTV rate

Average 2 year fixed 90% LTV rate

Today

5.52%

5.45%

April 2011

6.49%

6.05%

April 2010

No 2 year fixed deals at 95% LTV

6.48%

Source: Moneyfacts.co.uk 16.4.12

 

Louise Holmes, spokesperson at Moneyfacts.co.uk commented: “Over the past couple of years we have seen the high LTV mortgage market stage something of a comeback, mainly due to high demand from borrowers with limited deposits.

“The first-time buyer market is often considered to be the life-blood of the housing market and mortgage lenders recognise this. Risk is still a major factor, however, and the majority of mortgages with high LTVs require the financial backing from a third party, such as a guarantor, as well as strict credit checks and lending criteria.

“These latest figures will be good news and a welcome relief to many borrowers who have struggled to find suitable mortgage deals within their financial capabilities.”

www.moneyfacts.co.uk - The Money Search Engine

Moneyfacts.co.uk is the UK's leading independent provider of personal finance information. For the last 20 years, Moneyfacts' information has been the key driver behind many personal finance decisions, from the Treasury to the high street.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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