90% Loan-To-Value Mortgages Set To Return To The Market

 

The availability of 90% loan-to-value (LTV) mortgages is expected to increase over the next few months, according to a leading mortgage broker, news which was welcomed by estate agents.

A recent study by chartered surveyors e.surv revealed that mortgage approvals rose sharply in March, with LTVs climbing to their highest levels in three years. Approvals rose by 4.3% last month, marking the third consecutive month of growth after the traditionally slower Christmas period.

Chief Operating Officer at Alexander Hall, Andy Pratt, noted how both Nationwide and Northern Rock have recently moved into the 90 per cent LTV marketplace and he expects more to follow in the future.

"While you could say that it is just more of the same, they have all got slightly different criteria and slightly different views on risk, so it means that there is a greater choice for consumers," he added.

"Brokers are dealing with consumers to get the right solution for the customer – perhaps around affordability or just general criteria to get acceptance on the application – which is good."


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