High LTV Mortgages Return to UK Market

According to a recent market overview carried out by UK-based financial portal, Moneyfacts, the number of mortgage deals for first-time buyers increased almost by 50% compared to the same time last year.

As such, in February 2010 the number of mortgage deals with 90% loan-to-value ratio (LTV) only amounted to 144. This year, this figure increased to 214. The number of 85% LTV mortgages also rose, from 310 last February to 560 this year.

Commenting on the findings of the market overview, Ms. Louise Holmes of Moneyfacts, said that the return of high loan-to-value mortgage on the market is good news for borrowers and first-time buyers in particular.

She also highlighted that "over recent months some lenders have increased their rates and expanded their number of higher loan-to-value deals, giving indications that the market could be returning to a competitive, rather than risk-based state."

Detailed results of the analysis as well as best sellers mortgage deals list are available on online comparison portals.

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