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High LTV mortgages coming back to the market
The number of high loan-to-value (LTV) mortgages on offer in the UK has "soared", according to one commentator.
Research from MoneyFacts highlights that there were 144 mortgages requiring a ten per cent deposit at the start of February, compared to 114 at the beginning of the year.
Commenting on these figures, Katie Tucker, technical manager at mortgageforce, said that many home loan providers are considering higher LTV mortgages at the moment.
However, she added that the interest rates on many of these products are very "off-putting" suggesting that buyers might be better off saving up the extra five per cent deposit so they can get a better deal.
"You are looking at six months really before 90 per cent deals get any more competitive. There are so few on the market and there is no need for the lenders to compete with each other," Ms Tucker continued.
She also stated that there is likely to be more activity in the housing market this year compared to 2009.