Can high LTV latest mortgage rates help increase UK home-ownership?

Lenders latest mortgage rates at high LTVs may go some way to increasing home-ownership figures which have hit the lowest levels since the '80s. A reduction in home-ownership is being attributed to young buyers struggling to get on the housing ladder.

A survey by English Housing shows that the number of owner-occupiers in the country has fallen. The survey reveals that currently 66 % of the population living in England are owner-occupiers which means that home-ownership levels have hit the lowest point since 1988. The figures for private rental property show growth from 10 % cent 10 years ago to 16.5 % now.

In light of the figures, lenders see the need for more of their latest mortgage rates to be aimed at young first-time buyers. In response to this UK mortgage providers have started to launch more first-time buyer friendly products, with many deals launched at high loan to value levels which is proving to be of enormous help to many.

Despite negative press the housing market experienced a strong spring bounce. Figures from Rightmove show a 4.1 % increase month to month which is the largest recorded increase since 2002.

Lenders many have started to tightened their criteria but they understand that low loan to value deals and high first time buyer rates strict house purchase development. Young first-time buyers may now find that the latest mortgage rates offered by lenders could help them to make their first step up on the ladder.

Here at Deal Direct we are up to date on the latest mortgage rates and different mortgage providers lending criteria. We are best placed to source you a competitive deal.