27
Jan
Number of high LTV mortgages increases, research shows
The number of 85 per cent loan-to-value (LTV) mortgages on the
market has increased by 22 per cent since December and there has
also been a rise in the number of 90 per cent LTV products,
according to one price comparison website.
Research released by moneysupermarket.com revealed that there has
been an 11 per cent jump in the number of 90 per cent LTV deals on
the market since December, with borrowers now able to access 165
products.
The organisation also noted that rates across mortgage products
have fallen slightly since October 2009, with those looking to
finance a property purchase with an 80 per cent LTV product
experiencing the most substantial drops.
Hannah-Mercedes Skenfield, mortgages channel manager at
moneysupermarket.com, said: "It is encouraging to see rates
starting to drop across all LTV products."
"These figures do suggest that those looking for a mortgage are
finding more choice," she added.
On January 21st, the Council of Mortgage Lenders published lending
figures for December, which showed an increase of 14 per cent
compared with the previous month.