Lenders increase best mortgage availability for low deposits.
Lenders best mortgage deals offered at high loan to value levels have significantly increased in number during the past year.
Research by Moneyfacts.co.uk reveals that the availability of deals offered for 95 per cent LTV has doubled. More lenders are now willing to offer some of their best mortgage deals to low deposit would-be borrowers, many of whom are making a first time property purchase.
The number of 95 per cent loan to value deals has increased from just 27 on offer at this time last year to 61 on offer today.
Would-be home buyers with a slightly higher 10 per cent deposit have also benefited, Moneyfacts figures show that the number of deals offered by lenders for 90 per cent loan to value are now 316 which is 43 per cent up on the 228 offered a year ago.
Louise Holmes who is a Moneyfacts spokesperson commented on the figures saying that over the last year, high loan to value mortgage deals have made something of a comeback which can be attributed to a high mortgage demand from would-be property buyers with a limited deposit.
She added that first-time buyers are often considered as key to a healthy housing market which is something that mortgage lenders now recognise.
For mortgage advice and details of the best mortgage deals currently on offer in the UK contact Deal Direct. Let us search the market on your behalf to find the most suitable and affordable mortgage on offer.
