Lenders are softening up on their loan-to-value (LTV) ratios, according to MoneyExpert.com.
Research by the price comparison website shows the number of fixed-rate deals at 90% LTV or above almost doubling in the last 12 months, with 147 products to choose from today, up from 78 this time last year.
However, those seeking LTVs of above 90% [...]
Nationwide has lowered the deposit required for some of its most competitive remortaging deals, from 40% to 30%.
From today, all the lender’s existing 60% loan-to-value (LTV) fixed and tracker remortgage loans are available at up to 70%.
Since the onset of the credit crisis, remortgaging activity has been in a steady decline as lower interest rates [...]
The average loan-to-value (LTV) ratio on house purchase loans increased to 70% in December 2009, leaving the typical homebuyer requiring a 30% deposit.
According to research from the Mortgage Advice Bureau, the tendency for lenders to require large deposits in exchange for reasonable rates is softening, having improved from an average LTV of 67% in [...]
First-time buyers are finding it easier to get a foot on the property ladder, according to independent mortgage adviser, Mortgageforce.co.uk.
Better deals for high loan to value (LTV) borrowers meant that in November, 14% of all transactions arranged by the online broker were for those buying their first home, compared to the usual 10%. The majority [...]
Figures from realpricecomparison.com show that in October and November, first-time buyers accounted for nearly a third of all mortgage searches.
However, small deposits mean would-be homeowners are seeking out deals at 80% loan-to-value (LTV) ratio or above, with around 8.5% of searches for mortgages with LTVs of between 90% and 95%.
According to the price comparison website, [...]
Lenders continue to offer mortgages at an “obscene” rate of interest despite the cost of interbank borrowing falling to a record low.
Paul Holmes, chief executive of first-time buyer advice site Firstrung, said lenders have “no excuse” for the rates they are charging.
Banks and building societies are simply using record low interest rates to boost their [...]