According to new research by MoneyExpert.com, the mortgage market is now showing signs of a return to lending at higher loan to value rates. The number of providers offering fixed-rate mortgages at 90% LTV or higher has soared, the study said.
According to the report, some 147 fixed-rate mortgages are available at 90% LTV or higher, an 88% increase in the last year. The average LTV on a mortgage is now reported to be 76.8%, higher than a year ago.
The head of research at MoneyExpert.com, Pierre Williams, reportedly commented: "For those looking to borrow a sizeable percentage of the value of their home this is clearly good news. Lenders have been risk averse in the past year and have shied away from high LTVs. Measured optimism over the housing market, though, seems to be encouraging higher value lending . It'll be interesting to see how other provides react in the coming months. We're some way off the flurry of 100% deals of previous years and that is a good thing to some extent but it seems that door is opening up."
Higher loan to value mortgages becoming available
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