'Mortgage market hope' for FTBs

Posted: 19 Jul 2011 13:59:41 GMT

People with a ten per cent deposit are currently enjoying high levels of mortgage options.

First-time buyers (FTBs) are currently experiencing a positive spell thanks to the number of mortgages available for those with a ten per cent deposit being at their highest levels since November 2008.

New research from moneysupermarket.com has shown that there are now 312 home loan products at 90 per cent loan to value, which marks an escalation of 17 per cent since June.

In addition, the average rate on 90 per cent mortgages has also dipped, with such figures tumbling 0.53 per cent over the last year and 0.17 per cent in the last month alone.

Mortgage spokeswoman at the price comparison website Clare Francis said it is encouraging to see the number of 90 and 95 per cent mortgages rising, but added: "There is a severe shortage of FTBs at the moment and one of the reasons for this is down to the fact that it's been so difficult to get a mortgage."

The findings come after unbiased.co.uk's recent Advice Drivers report showed FTBs are seeking advice on how to get on the property ladder more than they ever have in the past.
 

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