24
Feb
Number of high LTV mortgages 'on the rise'
The number of mortgage products which offer homebuyers high
loan-to-value (LTV) ratios is rising, it has been noted.
According to MoneyExpert.com figures cited by the Financial Times,
there are now 147 fixed-rate loans available that fall into this
category.
This represents an 88 per cent hike on the number of 90 per cent
LTV mortgages on offer during the same time last year.
One of the firms providing 90 per cent loans is Newcastle Building
Society, which recently launched a new range of products for
consumers with deposits of ten per cent.
Steve Urwin from the company - which is a mutual society with roots
tracing back to 1861 - said conditions in the UK's property market
have been tough for some time now.
He went on to state: "[There has been] a particular impact on the
first-time buyer market, where numbers across the UK have fallen
year-on-year by around four per cent."
