Lending at high loan to value increases by 7%

May 15, 2015 by in category Mortgage News with 0 and 0

According to E.surv, the number of loans to borrowers with small deposits grew 7.3 per cent year-on-year in April.

p from around 9,400 a year earlier,Lenders advanced 10,112 loans to borrowers with a fifteen per cent per cent deposit or less last month

At 62,035 from 63,236 the previous April, there were one point nine per cent fewer approvals for house purchase loans in April

Up from fourteen point none per cent a year earlier, on the proportion of total approvals, higher loan to value lending stood at sixteen point three per cent last month.

“Borrowers with smaller deposits are making a welcome comeback, thanks to increased accessibility in lending, improving wages and highly attractive mortgage rates. This revival of the bottom of the market is becoming ever more crucial – and this showed in the recent election struggle, with all the main parties placing helping first-time-buyers as one of the crucial components of their campaigns, ssaid E.surv director Richard Sexton.

He went on to say “However, before concerns are raised regarding the increase in higher LTV lending, it’s worth putting these numbers in context. The number of higher LTV house purchase approvals is still only a quarter of what it was in 2007. This is a healthy upturn in higher LTV lending, not a symptom of any malady in the mortgage market.”

London Mortgage Advice Ltd is authorized and regulated by the Financial Conduct Authority for residential mortgages and non investment insurance business.

Although London Mortgage Advice Ltd is regulated by FCA, commercial mortgages and most buy-to-let and offshore mortgages are not regulated by the FCA.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

London Mortgage Advice ©2015